Answer:
Net cash flows from financing activities = $5 million
Explanation:
Net cash flows from finance = Raising additional debt capital - Repaid debt - Repurchased - Dividends
Net cash flows from finance = $75 million - $25 million - $20 million - $25 million
Net cash flows from finance = $75 million - 70 million
Net cash flows from financing activities = $5 million
Answer:
The journal entries are as follows:
(i) On December 31,
Service revenue A/c Dr. $25,000
To income summary A/c $25,000
(To record the service revenue)
(ii) On December 31,
Income summary A/c Dr. $18,400
To wages expense $14,400
To rent expense $4,000
(To record the rent and wages expense)
(iii) On December 31,
Income summary A/c($25,000 - $18,400) Dr. $6,600
To Retained earnings $6,600
(To record the Retained earnings)
(iv) On December 31,
Retained earnings A/c Dr. $1,400
To dividend A/c $1,400
(To record the dividend)
Answer:
$6.25 per ton of coal
Explanation:
the depletion base = purchase cost + restoration costs
- purchase cost = $20 million
- restoration costs = $6 million
depletion base = $26,000,000
depletion rate per ton of coal = (depletion base - salvage value) / estimated reserves = ($26,000,000 - $1,000,000) / 4,000,000 = $6.25 per ton of coal
The depletion rate follows the same concepts as depreciation of fixed assets, but instead of using a fixed asset, you are extracting materials and decreasing the value of the deposits.
Answer:
-4.3; inelastic
Explanation:
Initial price = $6.45
Initial quantity demanded = 600
New price = $6.95
New quantity demanded = 400
Percentage change in Quantity demanded:
= (Change in quantity demanded ÷ Initial quantity demanded) × 100
= [(400 - 600) ÷ 600] × 100
= (-200 ÷ 600) × 100
= 0.3333 × 100
= -33.33%
Percentage change in price:
= (Change in price ÷ Initial price) × 100
= [($6.95 - $6.45) ÷ $6.45] × 100
= ($0.5 ÷ $6.45) × 100
= 0.0775 × 100
= 7.75%
Therefore, the price elasticity of demand is as follows:
= Percentage change in quantity demanded ÷ Percentage change in price
= -33.33 ÷ 7.75
= -4.3
Hence, the price elasticity of demand is inelastic.
The technique that the artist is using could be described as the alla prima technique in which it is often used in paintings such as the oil paintings. It is a painting technique that uses wet paint to be able to give out its spontaneous and fuzzy look. The wet paints that are being applied to the portrait has many layers to show its structure or the beauty of the technique.
