Answer and Explanation:
1. The adjusting entry is
Net unrealised holding gain or loss $45,000 ($85,000 - $40,000)
To Fair value adjustment $45,000
(being net unrealized holding gain or loss is recorded)
2. In the income statement, the amount that should be reported is zero as the net unrealized gain or loss would be reported as an other comprehensive income also it is a part of the stockholder equity
The Opening price of the Dow Jones Industrial Average on May 16, 2017, in the format of XXXXX.XX was 20,984.48.
The Dow Jones Industrial Average, Dow Jones, or simply the Dow, is a stock market index of 30 prominent companies listed on stock exchanges in the United States.
So, Dow Jones was 20,984.48 on May 16, 2017.
To know more about Dow Jones, refer to:
brainly.com/question/2685954
#SPJ2
Answer:
The answer is B. $180,000
Explanation:
The sum of years' digits method is an accelerated depreciation that is based on the assumption that the productivity of the asset decreases with time.
Here, the sum of the digits are found. In this question, useful life is 5 years. So the sum of the digit is:
5+4+3+2+1 = 15.
April 1 20X4 through March 31 20X6 is 2 years.
First year depreciation is:
5/15 x $300,000
=$100,000
2nd year depreciation is:
4/15 x $300,000
=$80,000
Therefore, accumulated depreciation is
$100,000 + $80,000
$180,000
The reduction in Max's demand for hot dogs as his income rises shows that Max's hot dogs are an inferior good.
<h3>What is an inferior good?</h3>
An inferior good is a concept used in economics to describe a product whose demand falls as people's earnings increase. As salaries and the economy improve, people begin to replace these things with more expensive alternatives.
- The demand for an inferior good usually falls as consumer income grows, as opposed to normal goods, which experience the reverse.
Therefore, we can conclude that the reduction in Max's demand for hot dogs as his income rises shows that Max's hot dogs are an inferior good.
Learn more about inferior goods here:
brainly.com/question/6039968
Answer:
40,000 units
Explanation:
Given that,
Selling price per unit = $45 per unit
Variable cost per unit = $25
Fixed cost = $800,000
Contribution margin per unit:
= Selling price per unit - variable cost per unit
= $45 - $25
= $20
Break - Even units:
= Fixed cost ÷ Contribution margin per unit
= $800,000 ÷ $20
= 40,000 units
Therefore, the Break - Even sales in units are 40,000.
