Answer:Economic activities are those activities of man which are undertaken for earning money. Whereas non economic activities are those activities that are not undertaken for any monetary gain.
Explanation:
Answer:
Direct material= $5,600
Explanation:
<u>First, we need to calculate the direct labor added to Work in Process:</u>
Direct labor= allocated overhead / predetermined overhead rate
Direct labor= 6,400 / 0.8
Direct labor= $8,000
<u>Now, by difference, the direct materials:</u>
Direct material= Ending balance - allocated overhead - direct labor
Direct material= 20,000 - 6,400 - 8,000
Direct material= $5,600
Answer:
It is better for Frank, to go for a line of credit
Explanation:
It is better for Frank, to go for a line of credit, as this will enable him to have the lowest interest payment. This will also help him to draw for his services and also enable him to be repaying the in small amounts so that the operations are not affected.
Answer:198,800usd by the end of 2016
119,280usd by the end of 2017
Explanation: 2016 9 months depreciation percent 30%. Then 284,000*30%=85,200usd.
2017 12 months depreciation rate 40%. Then 198800*40%=79520.
198800-79520=119280
Answer:
B. Natural resources
Explanation:
The assets which are consumed physically and are productive also is come under the natural resources. The example of natural resources includes mineral deposits, coal mine, iron, etc. It is also known as wasting an asset. These are considered as long term assets
In the case of the natural resources, the depletion expense is charged, not the depreciation or amortization expense
