Answer:
Explanation:
The journal entry is shown below:
Machine A/c Dr $4,500
To Cash A/c $4,500
(Being machinery is purchased for cash)
The total amount of machinery purchased cost is shown below:
= Purchase cost of machine + training cost
= $4,000 + $500
= $4,500
Since the machine is purchased for cash so we debited the machine account and credited the cash account as cash
An entrepreneur can best build social capital by using reciprocation..
<u>Explanation:</u>
An entrepreneur is a person who own his own business and takes risks. He is responsible in getting profits and bearing losses associated with the business he started. He can attain capital for starting business in many ways like taking loans or investing his money in smaller scale business. He can also raise funds by buying shares, etc.
An entrepreneur can use of reciprocation for the purpose of building social capital. Reciprocation refers to the relationship between give and take.The entrepreneur can undergo activities like building trusts with the customers and can be involved in doing volunteer activities.
Answer: $6,600
Explanation: According to the question, The price elasticity of demand for cars is unitary meaning that any percentage increase or decrease in price of a product will give an equal increase or decrease in the demand for the product.
If cars are sold at $20,000 and current sales is 30 units. To increase the quantity sold to 50 units, there must be a price reduction.
what percentage of increase in quantity to be sold do we have? 50 - 30 = 20
20/30 = 66.67 appx 67%
Meaning that a 67% decrease in price of the car will give an equal 67% increase in sales quantity.
The new price of the car will be $20,000 * 67% = $13,400
new price = $20,000 - $13,400 = $6,600
Declining-balance depreciation method does not use an asset's residual value to calculate depreciation expense.
<h3>What is depreciation?</h3>
- In accountancy, depreciation refers to two aspects of the same concept: first, the actual decrease of fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wear, and second, the allocation in accounting statements of the original cost of the assets to periods in which the assets are used.
- Depreciation is thus the decrease in the value of assets and the method used to reallocate, or "write down" the cost of a tangible asset (such as equipment) over its useful life span.
<h3>What does accounting depreciation mean?</h3>
- During the asset's anticipated useful life, depreciation is allocated in order to charge a fair percentage of the depreciable amount in each accounting period.
- Amortization of assets with predetermined useful lives is included in depreciation.
Learn more about depreciation here:
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