Answer:
Chiquita makes an economic profit of $250,000.
Answer:
$375,000
Explanation:
The computation of the amount included in the natural resource is shown below:
= Cost of land & natural resource rights + cost of extraction during year + equipment used for mining + exploration & drilling cost
= $200,000 + $35,000 + $100,000 + $40,000
= $375,000
Hence, all the cost is inlcuded for natural resource except asset retirement obligation for restoring the land as this is not relevant so we ignored it
In the united states, the average person mostly patronizes firms that operate in Monopolistic Competitive Market.
Monopolistic Competitive Market is a kind of market structure where numerous associations are accessible in an industry, and they produce relative yet isolated things.
None of the association participate in a partnership, and every association work unreservedly no matter what the engaging quality of various association. The market structure is a type of Imperfect Competition.
Imperfect Competition alludes to the circumstance where the characteristics of a market don't satisfy every one of the essential states of an entirely serious market and consequently, it cause market weaknesses when it ends up actually working, and bringing about market disappointment.
To learn more about Monopolistic Competitive Market.
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Answer:
$3,355
Explanation:
Accounts receivables = $ 352,000
Debit Allowance for uncollectible accounts = 630
Net Sales = $797,000
The company estimates that 0.5% of net credit sales are uncollectible
Estimates of uncollectible receivables
= 0.5% × $797,000
=$3985
This is the total amount to be recognized at the end of the year as Bad Debts Expense. Since a debit of $630 has been recognized already, additional debit required
= 3985 - 630
= $3,355
The amount to be debited to Bad Debts Expense when the year-end adjusting entry is prepared is $3,355.
