Answers
Answer: The equilibrium price is indeterminate, but the equilibrium quantity falls.
Explanation:
As a result of the cost of iPhones rising, the production and supply for iPhones will decrease in the market to save costs. This will cause the supply curve to shift to the left.
With customers preferring android to iPhones, the demand for iPhones will decrease which will shift the demand curve left as well.
Looking at the graph attached, notice how when both supply and demand shift left at the same time, equilibrium quantity will reduce and equilibrium price however will remain indeterminate and dependent on the magnitude of the shift.
Related Questions
Assume that a properties CAM expense is 30,000 per year and 60% fixed. The occupancy is 70%.
Answers
$30000 value should be entered in the Amount 1 field in the Operating tab.
What is CAM expense?Common Area Maintenance charges, or CAM for short, are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property. Each tenant pays their pro rata share of a property's total CAM charges, which prorated share is the percentage of the tenant's rented square footage of the total, rentable square footage of the property. A common example of a CAM item is the cost of cleaning the walkways in a shopping mall.
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When is economic expansion occur
Answers
Answer:
The expansion occurs during times of economic stimulation, where there is a rise in employment, followed by consumer confidence and discretionary spending. The phase is also known as economic recovery.
How does the project fit within the global microeconomic environment? Support your response with evidence.
Answers
Explanation
Microeconomics is one of the significant center regions inside the scholarly field of financial aspects. While the degree and techniques for microeconomics can be intricate, its general center is moderately direct. Microeconomics inspects the regular activities of the commercial center, zeroing in on the choices made by people – individuals and organizations – as they purchase, sell, contribute and settle on other monetary choices. You don't have to officially consider microeconomics to apply a portion of its standards to your private company.
Evaluate whether Min-Chul is right to focus more on non-financial motivators than financial
motivators to attempt to motivate employees.
Answers
The most prevalent financial motivations occur at work and entail monetary rewards. These are your extrinsic motives, often known as carrots and sticks, which are used to encourage and reward employees for specific achievement behaviors.
Financial incentives drive workers and make them aware of what they stand to gain or lose depending on their performance when they are effectively conveyed. The employee can more easily provide for their families and materially better their lives outside of work thanks to this kind of inducement. Financial incentives can also raise short-term morale and productivity.
Naturally, not everyone is driven by money, and Gallup has discovered that there is no connection between engagement and pay scale. In addition, because of their monetary character, financial motivators frequently have declining returns. Less frequent non-financial motivators are frequently intangible and do not explicitly involve money. These can take various forms, such as acknowledgment, increased accountability and faith in a position, involvement in decisions, adaptable schedules, mentoring, feedback, and others.
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All of the related jobs you do during your life are called your
Ocareer
O lifestyle
O occupation
I leisure time
Answers
Answer:
Career.
Explanation:
Currently, there are a number of ways that people can use to define a career. Some people include working menial jobs as a career while some wouldn't include it in the category.
But for most people, Career represent the progress in someone's professional life. It recorded every pieces of opportunity, action, and achievements that we take up until this point. This record will continue to increase until we eventually decided to stop and retire.
The amount with which an individual starts an investment is called the
O principal
O return
O IDA
O APY
Answers
Answer:
Principal
Explanation:
You, a Captain, are a section chief in Military Personnel and 2d Lt Smith’s supervisor. Lt Smith is a Force Support Officer. She has been on active duty for a year and in her present job for 10 months. She supervises 21 enlisted personnel who perform a variety of administrative tasks in support of a tactical fighter wing. She majored in business administration in college, served 3 years as an administrative specialist, and was an E-4 before being accepted for OTS. As an enlisted member, she graduated from technical school as an honor graduate and was cited on numerous occasions for outstanding performance. Her supervisors considered her a valuable asset to the unit and an expert in her area of responsibility. She’s very enthusiastic about her work and plans to make the Air Force a career.
Lieutenant Smith took over her job 2 months after the unit had received a rating of “marginal” by the numbered Air Force Inspector General’s evaluation team. At the end of her first week on the job, Lt Smith called her NCOIC and key supervisors together and told them that she wouldn’t tolerate marginal performance, that she had previous experience in this type of work, and would be looking at the quality of their work very closely. Since that time, Lt Smith has attempted to supervise every phase of work in her office and, at times, has involved herself in even the most routine decisions. Lt Smith assigns people to certain jobs within the office, plans the work schedule, leave schedule, and does most of the counseling in the office.
In the last 6 months, Lt Smith has ordered several people to work overtime to complete routine work ahead of schedule. Each time this has happened, the NCOIC has asked the lieutenant for permission to speak to her immediate supervisor. On each occasion, the lieutenant has told the senior master sergeant he must not take these internal problems to you, because she’ll take care of any problems in her section--and the NCOIC should remember who writes his EPR.
Most of the time, when Lt Smith approaches the work or break area where the workers are congregated, she notices all conversation stops and the personnel won’t talk to her unless she addresses them first. After reviewing a report yesterday, Lt Smith became very impatient. She bypassed his NCOIC and took the report directly to the Airman who had typed it. While Lt Smith was berating the Airman about the typing errors, the NCOIC walked into the office and asked the Airman what the problem was. The lieutenant became flustered, told the NCOIC she was tired of doing his job for him, and shoved the report into his hands. Lt Smith then went into her office and slammed the door.
The NCOIC relayed this situation to you and asked for your help. How will you help? BACKGROUND
*ENVIRONMENT: Airforce Base
*PEOPLE INVOLVE: The Captain, Lt Smith, Airman and NCOIC.
PROBLEM DEFINATION
*Lt Smith Unprofessional Behavior
DIAGNOSIS
*Marginal Performance
*Previous Experience
*Enthusiastic With her Job
*Academic Credibility
Answers
The lieutenant Smith has taken leave, and everything is running smoothly. People are, however, more attentive when she is present. Decisions are being delayed, and morale was low. The and other important supervisors are worried which some people may decide to due to her supervision, leave the service style.
Several issues must be addressed as a result of this case study. Lieutenant Smith's micromanagement technique is causing morale issues and may lead to retention issues, which is one of the main concerns. It's also troubling that she's requesting people to work extra hours without proper authorization or regard for the impact on their personal lives.
As her boss, you ought to tackle these concerns with Lt Smith and advise her on proper supervisory techniques. You could advise her to delegate more responsibilities to her NCOIC and other key supervisors, and to concentrate in strategic planning and decision-making instead of micromanaging every detail. We should also emphasise the significance of adhering to proper procedures for authorising overtime and taking into account the impact on personnel.
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Dion has created a SWOT analysis for his business plan. In which section of his business plan will he place his analy
О А.
OB.
0 с.
OD. marketing and sales
executive summary
company description
market research
Reset
Next
Answers
In a case whereby Dion has created a SWOT analysis for his business plan the section of his business plan that he will place his analysis is company description.
What is SWOT analysis?The SWOT analysis is an important tool for evaluating the internal and external factors that affect a business. By identifying its strengths and weaknesses, a company can determine how to capitalize on its advantages and improve its weaknesses. By identifying opportunities and threats, a company can develop strategies to take advantage of market trends and mitigate risks.
Therefore, Dion's SWOT analysis will help readers of the business plan to understand the strengths, weaknesses, opportunities, and threats of his business, and how he plans to leverage these factors to achieve his goals.
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A proposed capital budgeting project has initial cash outflows, followed by cash inflows, which are then followed by more cash outflows. We call these types of cash flows: Group of answer choices non-normal cash flows. normal cash flows. None of these are correct. reflective cash flows. mutually-exclusive cash flows.
Answers
Answer:
a. Non-normal cash flow
Explanation:
Non-normal cash flows are also called as unconventional cash flows and it consist of cash-flow patterns that changes direction more than once.
Estate has an ROI of 16% based on revenues of $400,000. the residual income is $14,000 and the investment turnover is 2. what is the hurdle rate? With Explanation
Answers
If Estate has an ROI of 16% based on revenues of $400,000. the residual income is $14,000 and the investment turnover is 2. The hurdle rate is 9%.
How to find hurdle rate?First step is to find the investment turnover using this formula
Investment turnover=Sales/invested capital
Investment turnover = ($14,000 / $400,000) × 2
Investment turnover = 0.035 × 2
Investment turnover =0.07
Second step is to find the hurdle rate using this formula
Hurdle rate = ROI - Investment turnover
Hurdle rate = 0.16 - 0.07
Hurdle rate = 0.09× 100
Hurdle rate = 9%
Therefore the hurdle rate is 9%.
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the cost of quality has two components: the cost of good quality. the costs for good quality are the cost of monitoring and preventing defects. the cost of poor quality are often hidden, hitting customers and departments not immediately related to production. some experts argue that:
Answers
Answer: Quality is never costless because monitoring and prevention have costs
Explanation:
The cost of quality has two parts which are the cost of prevention and the cost of failure. The cost of quality simply refers to the sum of the prevention cost and the cost of failure.
It should be noted that spending more on prevention helps in reducing the cost of failure. According to experts, quality is is never costless because monitoring and prevention have costs.
You have been hired as a strategic planning consultant to Acre Pizza, a regional chain of outdoor dining pizza restaurants. Acre Pizza is deciding whether or not to outsource home deliveries to third parties such as GrubHub, DoorDash, or UberEats. What would be the biggest drawback of outsourcing this value chain activity
Answers
Given that the company is deciding to outsource or not to outsource, the greatest setback that they would experience would be:
Acre Pizza loses flexibility in accommodating its delivery partners with just-in-time orders.What is outsourcing?This is a business practice that a lot of organizations engage in. It is the practice of hiring people or companies outside their organizations to handle certain operations.
Outsourcing this job is going to prevent the business from having full control over the deliveries.
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t 3 Lab Learning Activity
K
Marcus Richardson
HW Score: 0%, 0 of 4 points
O Points: 0 of 1
11/03/22 7:32 PM
Question 1, P4-4 (similar to)
(Related to Checkpoint 4.1) (Liquidity analysis) Airspot Motors, Inc. has $2,505,600 in current assets and $864,000 in current liabilities. The company's managers want to
increase the firm's inventory, which will be financed using short-term debt. How much can the firm increase its inventory without its current ratio falling below 2.1
Answers
$6,28,363 the firm increase its inventory without its current ratio falling below 2.1
Current ratio = Current asset / current liability
Increasing inventory would increase the current asset.
We assume the additional inventory = L
So new current asset = L + $2,505,600
New current liability = L + $864,000
So, L + $2,505,600÷ L + $864,000 = 2.1
By solving L we get, L= $6,28,363
In other words, assets are items that provide a financial benefit to a company, such as inventory, buildings, equipment, and cash. They aid a company's ability to manufacture goods or provide services both now and in the future. A company's liabilities are its obligations—either money owed or services not yet performed.
Liabilities are the debts owed by a company to third-party creditors. Accounts payable may include notes payable and bank debt. Businesses take on debt in order to expand faster. A company's stability is determined by the balance of its debts and assets
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If company policy changes, should you explain those changes to employees and customers at about the same time? Or should one group before informed before the other group?
Answers
Answer:
Employees
Explanation:
The company should explain the changes to the employees first and then the constumers. This way the employees can answer questions regarding the changes better.
stock price for vinyl record player?
Answers
To give you an idea the stock price, beginner to advanced record player installations can range from $50 to $450, depending on a number of variables.
What is current stock price?It is the latest trading price for a share of stock or any other security. The present price serves as the starting point in an open market. It shows the price that a buyer and seller would be prepared to accept for a later transaction involving that security.The current price is only an indication and not a promise. The future sale price on an exchange is not determined by the present price. The security's price will fluctuate over time as supply and demand factors change.Using the current value accounting method, assets are valued at their replacement cost rather than their initial cost.Cash price is the same as current price because it refers to the most recent quoted price on an exchange.Learn more about current stock price refer to :
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How do you start an apprenticeship
Answers
Answer:
To Start a Program
Contact the Division of Apprenticeship Standards. ...
Determine the Essential Job Skills. ...
Identify Educational Partners and the Desired Classroom Component of Training. ...
Establish Apprenticeship Program Standards. ...
Submit Your Program to DAS for Approval.
In an apprenticeship, you receive on-the-job training in a trade.Trade unions, contractors, and private companies provide apprenticeship programs. While you don't need any experience in the trade to become an apprentice, many people in this career path gain general labor experience before applying.
In order to design your own apprenticeship, you'll need to build a group of 10 employers. The group should reflect the scope of the industry, and include at least 2 employers with less than 50 employees. When the group has been formed, everyone must play an active role and work together to develop the standard.
Explanation:
Evaluating the possible positive and negative outcomes of different
economic decisions is called:
A. marginal cost analysis.
B. cost-benefit analysis.
C. revenue projection analysis.
D. opportunity cost analysis.
Answers
Answer:
marginal cost analysis
A company has total assets of $150,000; total liabilities of $50,000 and total equity of $100,000. What is this company’s debt-to-equity ratio?
Answers
Answer:
150,000-50,000÷ 100,000= 1 ratio
EXAMPLE 2 An entity purchased an item of plant for Tshs. 120,000,000 on 1 January 2001. The plant was depreciated on a straight line basis over its useful economic life, which was estimated at six years. On i January 2003 the entity decided to revalue its plant. No fair value was available for the item of plant that had been i 3 If in 2005 the plant in Example 2 above had a replacement cost of Tshs. 100,000,000. Account for the proper treatment in the book of account in relation to the Plant
Answers
The entity need to determine fair value for the plant. Assuming the fair value was determined to be Tshs. 130,000,000, the entity would record:
revaluation surplus of Tshs. 10,000,000 (130,000,000 - 120,000,000).carrying amount of the plant would then be adjusted to Tshs. 130,000,000.What is the proper treatment in the book of account?If in 2005, the plant had a replacement cost of Tshs. 100,000,000, this would not affect the treatment of the revaluation surplus or the carrying amount of the plant.
The replacement cost is not relevant to the accounting treatment of the plant's revaluation because it is not a measure of the plant's fair value. However, if the entity wished to reflect the lower replacement cost in the financial statements, it could consider whether an impairment loss was necessary.
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Differentiate foreign investment from the types of aid provided by the UNDP and world bank, citing specific examples of aid from both.
Answers
Foreign investment is in domestic companies and assets in another country and made by foreign investors like your participation (ownership stakes) in firm. The types of aid provided by the World Bank are funding, policy advice and technical assistance to developing country governments.
What are foreign investments and their types?A foreign investment is an investment by a foreign investor in a domestic company or property in another country. Large multinationals will look for new opportunities for economic growth by opening branches and expanding investments in other countries.
Types of Foreign Investment in India: Foreign funds can be invested in equity, real estate, ownership/management, or cooperation. Foreign Direct Investment (FDI) Foreign Portfolio Investment (FPI). Foreign Institutional Investment (FII)
What is an example of foreign investment?A major Australian mining company buys a small Angolan company in order to diversify. Both are examples of foreign direct investment, where the business decision to become involved in some way or to have an interest in a company is made by an investor based outside the border.
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help help help help help help plsss
Answers
The factor that determines whether a metamorphic rock is foliated or non - foliated, is A. the presence or absence of mineral crystals.
What is the difference between foliated and non - foliated metamorphic rocks ?The majority of the time, foliated rocks have aligned grains of flat minerals like chlorite. When the mineral grains are not arranged in planes or bands, as they are in foliated rocks, the rocks are said to be non-foliated.
Minerals that are platy or elongate and oriented in roughly parallel planes, wavy bands, or both are found in foliated rocks. Nonfoliated rocks may have colored bands that reflect minute impurities, but the primary minerals do not exhibit any obvious alignment.
Therefore, we can tell foliated and non - foliated metamorphic rocks apart, based on the presence of mineral crystals, or the lack thereof.
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for each unit, $3,000 of direct material is used and there is $2,000 of direct manufacturing labor at $20 per hour. manufacturing overhead is applied at $25 per direct manufacturing labor hour. calculate the profit earned on 50 units
Answers
Answer:
$10
Explanation:
Per the above information, we need to find out the labor hours consumed by each unit
Manufacturing labor hour per unit = $2,000 ÷ $20 per hour = $100 per unit
The manufacturing overheads per unit = $100 per hour × 25
= $2,500 per unit
The cost per unit of each printer is
Direct material $3,000
Direct labor $2,000
Manufacturing overhead $2,500
Total cost per unit $7,500
Recommend further strategies companies in South Africa may use to protect the environment
Answers
Strategies companies in South Africa may use to protect the environment -
1-Provide Filtered Water
If you take a look around your workplace, probabilities are you’ll see a beverage on each desk. For a lot of today’s younger workers, water is the beverage of choice. However plastic water bottles take hundreds of years to completely decompose if they make their manner to landfills. sure, you may provide recycling containers, however the three rules of shielding the environment are, so as, reduce, reuse, and recycle. problem a reusable cup to each new employee for the duration of onboarding.
2-Reduce Paper Waste
Business have made great strides in recent years toward going paperless. but, most places of work nonetheless have a distance to head. if you still rely upon paper-primarily based methods, you can scare off millennials who prefer everything to be carried out electronically. encourage body of workers now not to print e-mail and draft files, providing the ability to send documents to non-public devices if that makes digital evaluation less difficult.
3-Switch to LED Lightbulbs
If you’ve shopped for lightbulbs lately, you’ve probable observed how complicated the selections have become. even though the federal government mandated all lightbulbs emerge as more electricity green, a few are higher at that activity than others. you can conserve power — reducing your utility bills and protective the environment — via switching each bulb to your building.
4-Allow Telecommuting
Telecommuting will help your commercial enterprise appeal to millennials on a couple of ranges. more youthful professionals have said a clean preference for bendy paintings preparations, including being allowed to work at home as a minimum a part of the time.
5-Improve Air Quality with Indoor Plants
Few companies fill their workplace spaces with plant life, however they are able to dramatically enhance the aesthetics. sure, employees can convey in their very own plant life, however seeing that open-plan places of work have end up extra established, people now can see beyond their own desks.
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Filling your individualf ederal tax returns would be best described what type of value chain?
Answers
Answer: Government to customer (G2C)
Explanation:
Filing is one of the requirements of any business person to give proper record of what they did in their business and how they delivered to the masses. This is proper for tax clearance and returns. When filing your individual tax returns the value chain is known as government to customer (G2C). This is recommended.
In the prepare phase of your analysis, you described the data sources you used. According to the Case Study Roadmap, this description should include where the data is located and how it is organized. It should also consider issues with bias or credibility, problems with the data, and how you verified its integrity. Finally, your description should explain how the data helped you answer your questions. Take a moment to review your description now. What steps could you take to make it even more descriptive? 1 point
Answers
To make the description of the data sources in the prepare phase more descriptive, you can consider the following steps:
Specify the location of the dataDetail the organization of the dataAddress bias and credibilitySome steps to make the data sources more descriptiveSpecify the location of the data: Provide specific information about the sources of the data, such as the name of the database, website, or organization where the data was obtained. If applicable, mention any specific datasets or files used.
Detail the organization of the data: Describe how the data is structured or organized, whether it is in a tabular format, spreadsheets, databases, or any other specific format. Mention the variables or fields present in the data and how they are arranged.
Address bias and credibility issues: Discuss any potential biases or credibility concerns associated with the data sources. Consider the source's reputation, the methodology used to collect the data, and any known limitations or biases in the data collection process.
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Perpetual Inventory Using Weighted Average
Beginning inventory, purchases, and sales for WCS12 are as follows:
340 units at $10
200 units
360 units at $11
400 units
Oct. 1
13
22
29
Inventory
Sale
Purchase
Sale
a. Assuming a perpetual inventory system and using the weighted average method, determine the weighted average unit cost after the October 22 purchase. Round your answer to
two decimal places.
per unit
b. Assuming a perpetual inventory system and using the weighted average method, determine the cost of goods sold on October 29. Round your "average unit cost" to two decimal
places.
$
c. Assuming a perpetual inventory system and using the weighted average method, determine the inventory on October 31. Round your "average unit cost" to two decimal places
Answers
Perpetual Inventory can be calculated as follows:
a. Weighted average unit cost after the October 22 purchase:
Beginning inventory:
340 units at $10 = $3,400
Purchases:
200 units at $10 = $2,000
360 units at $11 = $3,960
Total units: 340 + 200 + 360 = 900 units
Total cost: $3,400 + $2,000 + $3,960 = $9,360
Weighted average unit cost = Total cost / Total units
=$9,360 / 900 units
≈ $10.40 (rounded to two decimal places)
b. Cost of goods sold on October 29:
Units sold: 400 units
Cost of goods sold = Units sold * Weighted average unit cost
= 400 units * $10.40
= $4,160
c. Inventory on October 31:
Remaining units: 100 units (900 units - 400 units)
Weighted average unit cost (from part a): $10.40
Inventory value = Remaining units * Weighted average unit cost
= 100 units * $10.40
= $1,040
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A retailer spends a $500 per month to keep its online shop active and updated. The store acquires shirts at a cost of $5 per shirt. Each shirt sells for a marginal benefit of $10 per shirt.
How many shirts would you have to sell for it’s marginal benefits to be greater than its total costs?
Answers
Answer:
100 shirts
Explanation:
Borrowing from the contribution margin concept, the level where the marginal benefit is greater than total costs is the break-even point.
Break-even point = fixed cost / contribution margin per unit.
For this retailer,
Fixed costs are $500,
The contribution margin per unit = selling price- variable cost
=$10-$5
=$5
Break-even point
= $500/$5
= 100units
The retailer would have to sell 100 shirts for it’s marginal benefits to be greater than its total costs.
What is breakeven point?This is the point where the additional gain derived is more than the total costs.
Applying break even point, we'll have
Break-even point
= Fixed cost / Contribution margin per unit.
Fixed cost
= $500
Contribution margin per unit
= Selling price - Variable cost
= $10 - $5
=$5
Break-even point
= $500 / $5
= 100units
Hence, the retailer would have to sell 100 shirts for it’s marginal benefits to be greater than its total costs.
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In what circumstances would a property insurance claim be rejected?
Answers
The circumstances that could make a property insurance claim to be rejected are policy exclusions, failure to disclose information, non-payment of premiums, lack of coverage, policy conditions not met, misrepresentation or fraud, and wear and tear or maintenance issues.
What are these circumstances?Property insurance claims can be rejected for various reasons. While the specific circumstances may vary depending on the policy and insurance provider, here are some common situations in which a property insurance claim may be denied:
1. Policy exclusions: Insurance policies typically have specific exclusions listed in the terms and conditions. If the cause of damage or loss falls within these exclusions, the claim may be rejected. Common exclusions include acts of war, intentional acts, neglect or lack of maintenance, and certain natural disasters not covered by the policy.
2. Failure to disclose information: When applying for property insurance, it's crucial to provide accurate and complete information. If the insured fails to disclose relevant details about the property or provides false information, the claim could be denied. For example, if a homeowner fails to disclose a previous claim or provides inaccurate details about the property's security features, the claim may be rejected.
3. Non-payment of premiums: Insurance policies require regular premium payments to remain in force. If the insured fails to pay premiums within the grace period, the coverage may lapse, and any subsequent claims may be denied.
4. Lack of coverage: Insurance policies have specific coverage limits and deductibles. If the claimed loss exceeds the policy's coverage limit or falls below the deductible amount, the claim may be rejected or only partially paid.
5. Policy conditions not met: Insurance policies often have conditions that must be met to validate a claim. For example, the insured may be required to notify the insurance company promptly after the loss occurs, provide documentation and evidence of the damage, and cooperate fully during the claim investigation process. Failure to meet these conditions could result in claim denial.
6. Misrepresentation or fraud: If the insurance company determines that the insured intentionally misrepresented information or engaged in fraudulent activities to obtain coverage or make a claim, the claim will likely be rejected. This includes submitting falsified documents, inflating the value of the claimed items, or staging the loss.
7. Wear and tear or maintenance issues: Property insurance typically covers sudden and accidental damage rather than damage resulting from wear and tear, lack of maintenance, or pre-existing conditions. If the insurer determines that the damage is a result of normal wear and tear or inadequate maintenance, the claim may be denied.
It's important to carefully review the terms and conditions of your insurance policy and promptly report any losses to your insurance company to maximize the chances of a successful claim.
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what is probability/impact matrix
Answers
Explanation:
probability and impact metrix is a tool for the project team iad in prioritizing risks.
Data related to the acquisition of timber rights and intangible assets during the current year ended December 31 are as follows:
Timber rights on a tract of land were purchased for $1,600,000 on February 22. The stand of timber is estimated at 5,000,000 board feet. During the current year, 1,100,000 board feet of timber were cut and sold.
On December 31, the company determined that $3,750,000 of goodwill was impaired.
Governmental and legal costs of $6,600,000 were incurred on April 3 in obtaining a patent with an estimated economic life of 12 years. Amortization is to be for three-fourths of a year.
Required:
1. Determine the amount of the amortization, depletion, or impairment for the current year for each of the foregoing items. Do not round your intermediate calculations.
Item Impairment, Amortization or Depletion Expense
a. $
b. $
c. $
Hide
2. Journalize the adjusting entries required to record the amortization, depletion, or impairment for each item.
Answers
Solution:
Given :
Timber rights were purchased for = $1,600,000
The stand of the timber is = 5,000,000 board feet
Goodwill impaired by the company = $3,750,000
Timber cut and sold during current year = 1,100,000 board feet
Government legal cost = $6,600,000
Therefore the amount of amortization , depletion and the impairment of the current year for each foregoing item are :
1.
Item Impairment, Amortization or the depletion
a). $ 352,000
b). $ 3,750,000
c). $ 412,500
2. Jornalizing the entries that required to record the depletion, amortization or the impairment of each of the items are :
a). The depletion expense = $ 352,000
Accumulated expense = $ 352,000
b). Loss from the impaired goodwill = $3,750,000
The goodwill = $3,750,000
c). Amortization expenses patent= $412500
Patent = $412500