Saskatchewan Forestry Company purchased a timber tract for $325,000 and estimates that it will be depleted evenly over its 10-year useful life with no residual value. Prepare the journal entry that would be recorded if 10 percent of the total timber is cut and placed into inventory during the current year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Answers
The journal entry to record this transaction would be Inventory $3,250, Timber depletion expense $3,250
Which of these sections of the journal entry should depreciation be recorded in?The basic journal entry for depreciation is to debit the Depreciation Expense account (which appears on the income statement) and credit the Accumulated Depreciation account (which appears in the balance sheet as a contra account that reduces the amount of fixed assets).
Total cost of timber tract = $325,000
Depletion rate per year = Total cost / Useful life = $325,000 / 10 = $32,500 per year
Depletion expense for current year = Depletion rate * Percentage cut and placed into inventory
= $32,500 * 0.10 = $3,250
This transaction would be recorded as follows in the journal entry:
Inventory $3,250
Timber depletion expense $3,250
This entry records the transfer of the cost of the timber from the asset account (timber) to the expense account (timber depletion expense) as the timber is cut and placed into inventory.
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Related Questions
Why is the soda market considered an oligopoly?
For economics need ASAP
Answers
Answer:
The industry is considered an oligopoly because the firms in this industry produce products that are differentiated. The competition depends on the way the brand of the firms market their products.
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What is the future value of 875 six years from now if the required rate of return is 7% (Rounded to 2 decimal places)?
Answers
The future value of 875 six years from now is mathematically given as
F= 1.313.13
What is the future value of 875 six years from now if the required rate of return is 7%?Generally, the equation for Future Value is mathematically given as
Future Value = P * (1+r)^n
Therefore
F= 875 * (1+7%)^6
F= 875 * 1.50073035
F= 1.313.13
In conclusion, Future Value
F= 1.313.13
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What are security guards?
Answers
Answer: People that protect a building,store, any place from any dangerous activity or people.
Explanation:
5. On Anna's SAR, the "Your Financial Aid History Information" section is blank or N/A. Why?
Answers
Answer:
Because she doesn't have any outstanding debts.
Explanation:
The financial aid history refers to the outstanding debts that Anna needs to pay. When this history appears blank, without any information, it means that she has already paid off all her debts and no longer has any outstanding loan, with non-payment.
Current Attempt in Progress
Bonita, Inc. reported net income of $2.25 million in 2022. Depreciation for the year was $144,000, accounts receivable decreased $315,000, and accounts payable decreased $252,000.
Compute net cash provided by operating activities using the indirect method.
Answers
The indirect method, in its broadest sense, refers to a method of calculating cash flow that relies on transactions to identify payments and expenses rather than cash on hand. Hence
What is Indirect Cash flow ?The indirect technique calculates how much money a business earned or spent during a specific time period from numerous sources.
Using the indirect approach, net income (also known as net profit) at the end of the reporting period is used to compute cash flow.
Then, using information from the balance sheet, you modify this net income amount and eliminate the impact of non-cash transactions that are displayed on the profit and loss statement.
Hence Amount ($) in million
Net Income 2250
(+) Depriciation 144
(+) Account Receivable 315
(-) Account Payable (252)
$ 2,457
Hence Net Cash from operating Activity will be $ 2.457 million
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Which of the following ratios use de-levered net income? (check all that apply)
Answers
The following ratio uses de-levered net income option C. return on assets
What is a de-levered net income?Being a shareholder one may wish to determine the return without any effects of interest expense. One needs to adjust the net income to add back the interest expense. This is called as De-Levered Net Income.
De-levered net income is also referred to as pro forma net income. It is a financial measure that reflects the net income of a company after adjusting for the impact of debt on the company's financial statements.
It is calculated by taking the company's net income and adding back any interest expense that is connected with the company's debt, as well as any taxes that are related to the interest expense.
Therefore, the correct answer is as given above
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The complete question goes thus:
Which of the following ratios uses net income from leverage? (check all that apply)
a. Financial Leverage
b. Return on Equity
c. Return on Assets
d. Asset Turnover
e. Return on Sales
⦁ Which of the following is NOT one of the ways the U.S. Government tries to stabilize the economy?
⦁ ensure that jobs are available for all those who can work
⦁ prevent drastic shifts in prices
⦁ regulate the banking system
⦁ insist on American citizenship for all immigrants
Answers
Answer:
4, the last one
Explanation:
2. Carson Inc.'s manager believes that economic conditions during the next year will be strong, normal, or weak, and she thinks that the firm's returns will have the probability distribution shown below. What's the coefficient variation for this firm’s returns??
Economic
Conditions Prob. Return
Strong 25% 30.0%
Normal 45% 12.0%
Weak 30% -14.0%
Answers
The coefficient variation for Carson Inc.'s returns is 4.06.
The coefficient of variation (CV) is a measure of relative dispersion or risk for a set of data. It is calculated as the standard deviation divided by the mean of the data, expressed as a percentage.
First, we need to calculate the expected return for Carson Inc.'s returns:
Expected return = (0.25 x 0.30) + (0.45 x 0.12) + (0.30 x -0.14) = 0.045 or 4.5%
Next, we need to calculate the standard deviation
Standard deviation = √((0.25 x (0.30 - 0.045)²) + (0.45 x (0.12 - 0.045)²) + (0.30 x (-0.14 - 0.045)²)) = 0.1828 or 18.28%
Finally, we can calculate the coefficient of variation
Coefficient of variation = standard deviation / expected return = 0.1828 / 0.045 = 4.06
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Ken borrowed $6,000 for 4 years at a rate of 7% simple interest per year. How much interest will ken have to pay after paying back the borrowed amount?.
Answers
Issues with interest. Ann put $12,000 into two different bank accounts. One of the accounts offers 6% yearly interest, while the other offers 5%.
What is the definition of "interest"?
A feeling that is associated with or draws attention to a certain object or person: A worry-inducing object or person is referred to as a concern. a fascinating quality in something or someone.
Interest, to put it as simply as possible, is the price of borrowing money. It's the amount you owe your lender from a credit card or loan balance. However, there are other ways to get interest paid to you; the most common ones are certificates of deposit and savings accounts.
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Answer:
The answer would be B, $1,680
Step-by-step explanation:
So first of all you want to start by finding what P, r and t would be.
P = Principal amount ($$)
r = interest rate (%)
t = time
Once I found all of those I put them into the equation (l = Prt) and solved. That's how I came up with $1,680. Check out the screenshot I have provided for all my work! :)
Have a great day!
Pumpkin Spice Latte fanatics could be considered a(n) __________ of coffee enthusiasts.
Answers
Question Completion:
2. Pumpkin Spice Latte fanatics could be considered a(n) __________ of coffee enthusiasts.
a. reference group
b. subculture
c. social class
d. opinion leader
Answer:
Pumpkin Spice Latte fanatics could be considered a(n) __________ of coffee enthusiasts.
a. a reference group
Explanation:
In Sociology, other people who are not fanatics of Pumpkin Spice Latte (PSL fanatics as they are known) can use the PSL to compare their coffee drinking habits. This means that the Pumpkin Spice Latte fanatics become a comparative reference group for any person who intends to do such relationship comparison. Therefore, the PSL is regarded as aa group for self-evaluation.
Strategic management requires managers to take an integrative view of the organization. This is achieved when
Answers
Answer:
employees and work teams are empowered.
Explanation:
Every organization should be established with a motive to generate high and high revenues by do strategic planning so the things could go in a right way
The employees and the employer roles in the organization is very important
Due to the performance of the employees, the company could able to accomplish its predefined target so here the motivation, learning is required also working in a team could easy the task as compared to before at less time
Therefore the last option is correct
ranson Inc. has sold product to the Brandywine Company, a major customer, for $20,000. As a courtesy to Brandywine, Branson has agreed to take a note due in two years for half of the amount due. a. What is the effective price of the transaction to Branson if the interest rate is. (1) 6%, (2) 8%, (3) 10%, or (4) 12%
Answers
Answer: See explanation
Explanation:
The effective price of the transaction to Branson based on the interest rate given will be:
1. PV = FV [PVF6,2] = $10,000(0.89) = $8,900
Therefore, $8,900 + $10,000 = $18,900
Effective Discount will be:
= (20000 - 18900) / 20000 × 100
= 1100/20000 × 100
= 0.055
= 5.5%
2) PV = FV [PVF8,2] = $10,000(0.8573) = $8,573
Therefore, $8,573 + $10,000 = $18,573
Effective Discount will be:
= (20000 - 18573)/20000 × 100
= 1427/20000 × 100
= 0.07135
= 7.135%
3) PV = FV [PVF10,2] = $10,000(0.8264) = $8,264
Therefore, $8,264 + $10,000 = $18,264
Effective Discount will be:
= (20000 - 18264)/20000 × 100
= 1736/20000 × 100
= 0.0868 × 100
= 8.68%
4) PV = FV [PVF12,2] = $10,000(0.7972) = $7,972
Therefore, $7,972 + $10,000 = $17,972
Effective Discount will be:
= (20000 - 17972)/20000 × 100
= 2028/20000 × 100
= 0.1014 × 100
= 10.14%
After graduating from college, Joseph Tantillo decided to start a retail Web site that specializes in personalized Greek apparel. To fund his Web site, he borrowed money from his parents (who expect to be repaid with interest). In other words, he used _____ financing.
Answers
Answer:
Debt financing
Explanation:
Debt financing is defined as borrowing that a company undertakes to finance it's operations by selling of debt instruments to investors.
The debt instrument attracts interest payment.
Examples of debt financing includes bank loans, loans from friends and family, and government backed loans.
In the given scenario Joseph Tantillo decided to borrow money from his parents to start a retail Web site that specializes in personalized Greek apparel. This is debt financing
In contrast equity financing involves sale of shares to obtain capital
You are making recommendations after researching and writing a report on sports club discounts and employee health. What should you remember about your reader before preparing your recommendations? Check all that apply. Readers prefer that your recommendations be shared indirectly. Readers should have no influence on how your recommendations are developed. Readers want to know how your data relate to the problem being studied. Readers may want to know how to implement the suggestions. Readers prefer specific, practical recommendations.
Answers
To deliver purposeful information, readers ought to be kept in mind. Before making recommendations after researching and writing a report on sports club discounts and employee health, you need to remember the following;
Readers want to know how your data relate to the problem being studied. Readers may want to know how to implement the suggestions. Readers prefer specific, practical recommendations.If you want to inspire a group of people on the need to take sports more seriously, you should provide data that supports your points.
Also, show the reader's practical ways to apply your suggestion. These will help them to take the information seriously.
Therefore, options C, D, and E are correct.
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Supporting your post with the course text and two outside resources, create a new thread with your name in the subject and provide thoughtful and original discussion on the following Research Questions (RQs).
RQ1 - While evaluating the long-term vision and objectives of an entrepreneurial startup, how are the following three strategic business decisions related to each other?
Strategic Growth
Legal Entities
Exit Strategy
Answers
The vision and goals of an entrepreneurial startup relate to strategic growth decisions, legal entities and strategic output in the sense that these three decisions are significant to the success of the business.
How do these three strategic decisions impact a business?When starting a business, companies need to take several factors into consideration, such as the structure of the business, how the legal entity is most aligned with the company and its operations, to obtain credit, attract investment, etc.
After a structure aligned with the needs of the business, strategic planning must be considered that allows the company to grow and be competitive, such as a marketing plan aligned with organizational objectives and goals.
The exit strategy is a factor that, despite not being analyzed much, must be considered, since every company is subject to negative risks that can compromise the security of the investment, with the strategic exit being a variable that can increase reliability at startup. of business.
Therefore, when starting a new business, the factors that imply the positioning and value of the business in the market must be considered, since a company is a set of systems that work in an integrated way.
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Why are the three separate occupations of plumbers, pipefitters, and steamfitters grouped together by the Department of Labor?
They all require an associate's degree.
They all are usually self-employed.
They all are licensed by individual states.
Their duties are related, and their knowledge overlaps.
Answers
Answer:
Their duties are related, and their knowledge overlaps.
Explanation:
The Department of Labor of the United States, is the department that administers occupational safety, salary, working hours, etc. The department oversees the welfare of those who earn wages, seeking jobs, or retired people.
The Department of Labor grouped together the three separate occupations of plumbering, pipefitting, and steamfitting because their duties are somewhat related, and skills and knowledge intersect with each other.
The duties performed by plumbers, pipefitters, and steamfitters include installing of pipes, fixing pipes, inspection of pipelines and pipe systems, repairment of pipes, etc. And the knowledge of pipe of all three occupations is also similar. It includes pipe system design, safety, tool use, etc.
Thus the Department grouped them together because they have overlapping skills and knowledge, and similar duties. Therefore, the correct answer is the last option (D).
Glen, a CFO of a large corporation notes that the business’s current assets add up to $18,900. Additionally, there is a fleet of trucks which is listed as a $780,000 debit on the balance sheet (there is also $246,000 of accumulated depreciation). The only other asset is a building which is debited for $1,050,000 (104,000 of accumulated depreciation). The book value of the corporation’s shares is $920,000 while retained earnings currently have a $210,000 credit balance. How much, in total, does the corporation owe to banks, suppliers, and other parties?
Answers
Based on the company's assets and equity, the amount that it owes various stakeholders is $368,900
Amount owed by companyYou can find this using the accounting formula:
Assets = Liabilities + Equity
Expanding the formula gives:
Current assets + Book value of fixed assets = Liabilities + Book value of shares + Retained earnings
18,900 + (780,000 - 246,000) + (1,050,000 - 104,000) = Liabilities + 920,000 + 210,000
Liabilities = 8,900 + (780,000 - 246,000) + (1,050,000 - 104,000) - 920,000 - 210,000
= $368,900
In conclusion, liabilities are $368,900
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(10 Marks)
Employers use social media platforms to screen and monitor employees for their online behaviour profiles.
Describe 5 (Five) behaviour patterns that employees must be wary of so that they become assets to their
companies.
hp
Answers
Answer:
Although some employees might think that their employers are tracking their social media usage to add even more restrictions, that isn't necessarily true. Instead, the main goal of monitoring the Internet and social media usage is to eliminate unnecessary distractions at work and enhance productivity.
Art Neuner, an investor in real estate, bought an office condominium. The market value of the condo was $250,000 with
70%
assessment rate. Art feels that his return should be 12% per month on his investment after all expenses. The tax rate is $31.50 per
$1,000. Art estimates it will cost $275 per month to cover general repairs, insurance, and so on. He pays a $140 condo fee per month.
All utilities and heat are the responsibility of the tenant. Calculate the monthly rent for Art. (Round your intermediate calculations and
final answer to the nearest cent.)
Monthly rent
Answers
The monthly rent that Art Neuner, an investor in real estate, who bought an office condominium, should charge the tenants is $979.31.
What is the monthly rent?The monthly rent can be computed by adding all monthly expenses and marking them up by the expected returns.
Data and Calculations:Market value of property = $250,000
Assessment rate = 70%
Assessed value = $175,000 ($250,000 x 70%)
Expected rate of return = 12% per month
Monthly investment cost and expenses:
Property tax = $5,512.50 ($175,000 x $31.50/$1,000)
Monthly property tax = $459.38 ($5,512.50/12)
General repairs, insurance, etc. = $27N5
Condo fee per month = $140
Total expenses per month = $874.38
Monthly return = $104.93
Total monthly rent = $979.31
Thus, the monthly rent for Art Neuner for the office condominium is $979.31.
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Multiple Choice Question
Identify the articles that correctly complete the following sentence.
We all laughed at the joke about_ honest man, even though it was immature attempt at humor.
an; a
an; an
a; an
a; a
Answers
The correct answer is "an; an".
The reason for this is that the word "honest" starts with a vowel sound (the 'h' is silent), so it requires the article "an" instead of "a". The word "attempt" also starts with a vowel sound, so it also requires the article "an". Therefore, the correct articles to complete the sentence are "an; an".
Supervisory managers are mostly concerned with which type of planning?
Answers
Answer:
Operational
Explanation:
Supervisory managers oversee things like schedules, inventory, and employee tasks. Day to day planning. These are functions of operational planning.
Jorge has a new job in an office. Which of the following safety procedures will he most likely need to learn?
Answers
Answer: D) How to exit safely in the event of a fire
Explanation:
Which treatment is used to manage the symptoms of celiac disease?; What treatment is used to manage the symptoms of celiac disease ?; Does a gluten-free diet cure celiac disease?; What is the dietary management of celiac disease?
Answers
The treatment that is used to manage the symptoms of celiac disease is to stick to a gluten-free diet.
Currently, the only treatment for celiac disease is lifelong adherence to a strict gluten-free diet. People living gluten-free must avoid foods with wheat, rye, and barley, such as bread and beer.
Ingesting small amounts of gluten, like crumbs from a cutting board or toaster, can trigger small intestine damage.
Long-Term Health Effects
People with celiac disease have a 2x greater risk of developing coronary artery disease, and a 4x greater risk of developing small bowel cancers.
The treatment burden of celiac disease is comparable to end-stage renal disease, and the partner burden is comparable to caring for a patient with cancer.
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what is the explanation of how 3D printing gives SpaceX a competitive advantage
and
Exploration of how AI could be used to enhance SpaceX's 3D printing capabilities
Answers
3D printing offers your organization a genuinely necessary upper hand. It permits you to create models quicker, decreases the expense of creation, requires less info (HR and gear), and diminishes above.
SpaceX involves 3D printing in their designing and assembling processes, including printing parts for rocket motors, spouts, and primary parts for the Bird of Prey 9 and Hawk Weighty rockets and Mythical serpent shuttle.
The improvement of an ML framework that utilizes PC vision to screen the creation cycle and fix material dealing with shortcomings continuously. The fundamental benefits of 3D printing are diminishing expenses, less waste, decreased time, getting an upper hand, lessening mistakes, classification, and creation on request.
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What is President Obama’s purpose in the speech
Answers
Answer:
his ( speech was "Rescue, Rebuild, Restore – a New Foundation for Prosperity". Among the topics that Obama covered in his speech were proposals for job creation and federal deficit reduction.) What he said in his victory speech was (To our future as Americans: This is our time, to put our people back to work and open doors of opportunity for our kids; to restore prosperity and promote the cause of peace; to reclaim the American dream and reaffirm that fundamental truth, that, out of many, we are one; that while we breathe, we hope.)
Explanation:
HURRY
Why can it be more expensive for clients to host a catered event at their home than at a hotel or restaurant?
Answers
It would be more expensive to host the event in their home than at the hotel due to the cost of the rental properties.
What are the rental properties needed for a home event?These would be for properties such as chairs, tables, china, linens and glass ware.
While hosting in a hotel, these properties would be provided by the event centre.
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. Discuss and Implement the Price Adjustment Strategies in current market. Apply each strategy with 3 examples along with picture. (10 Marks) (200 Words)
Answers
Answer:
There are many different price adjustment strategies which can be implemented in the current market.
Explanation:
Psychological pricing:
Psychological pricing is a strategy in which the price of a product is displayed with mostly one cent difference so the whole number shown is less by $1 and this difference can get higher if the price of the product is more.
Example 1: The price for a toy in a toy shop is $4.99, if rounded this will be $5 but the whole number visible is $4.
Example 2: The price of a laptop is $193, this again is nearly $200 but the price is reduced by $7 in order to influence their customers into buying the product.
Example 3: The price of a car is $35,995, this again is about $36,000 but the buyer may be influenced by this technique and result in purchasing the product with such price.
Geographical Pricing:
Geographical pricing is a strategy where different prices are charged in different outlets, this strategy is made keeping in mind the purchasing power of the locality, if the local people can pay higher price for a product then the price is high there but same product may have a lower price in an area where people can not pay high price.
Example 1: Price of a T-shirt is $15 in a posh area while the price of the same T-shirt is $5 in an area with poor locality.
Example 2: Price of a hair brush is $10 in a poor area while the same brush is available in a posh area at a rate of $35.
Example 3: Price for a food item is $6 in a restaurant in posh area while the same burger is available for $3 in a restaurant in a poor area.
Ethics tries to resolve questions of human morality by defining which concepts?
Answers
Answer:
Ethics seeks to resolve questions of human morality by defining concepts such as good and evil, right and wrong, virtue and vice, justice and crime. As a field of intellectual inquiry, moral philosophy is related to the fields of moral psychology, descriptive ethics, and value theory.
What is ethics? The term ethics may refer to the philosophical study of the concepts of moral right and wrong and moral good and bad, to any philosophical theory of what is morally right and wrong or morally good and bad, and to any system or code of moral rules, principles, or values.
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An annuity that pays $14,000 a year at an annual interest rate of 5.04 percent costs
$145,000 today. What is the length of the annuity time period?
Answers
Answer:
To determine the length of the annuity time period, we will use the Present Value of Annuity (PVA) formula:
PVA = PMT × (1 - (1 + r)^(-n)) / r
Where:
- PVA is the present value of the annuity, which is $145,000 in this case.
- PMT is the annual payment, which is $14,000.
- r is the annual interest rate, which is 5.04% or 0.0504 as a decimal.
- n is the number of years or length of the annuity time period, which we need to find.
First, let's rearrange the formula to solve for n:
n = -log(1 - (PVA × r) / PMT) / log(1 + r)
Now, we can plug in the given values:
n = -log(1 - ($145,000 × 0.0504) / $14,000) / log(1 + 0.0504)
n ≈ 13.96
Since the annuity time period must be a whole number, we can round up to get the nearest whole number:
n ≈ 14
The length of the annuity time period is approximately 14 years.
A constraint on travel, when failing to obtain a visa, is known as an Answerissue.
Answers
The article is primarily made up of numbers and facts, as if this might actually solve any issues.The term "neo social movements" refers to issue-specific movements that began after the 1980s.
Which three restrictions apply to travel?According to Crawford and Godbey (1987; 1991), the model includes three types of limitations: interpersonal, intrapersonal, and structural constraints. Individuals who are alone when travelling have interpersonal limits.
Which four restrictions on travel apply?Four groups—intrapersonal, interpersonal, structural, and not a travel option—are used to group the 30 low-carbon travel restrictions.
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