Answer:
Lester Company
The accumulated depreciation amounts for buildings $35,000 and for equipment $60,000 were obtained as the differences between the costs and the book values of the assets. The cost of a long-term asset is usually reduced to its book value by the total amount in the accumulated depreciation account. The accumulated depreciation account shows the progressive amounts set aside annually as a write-off of the asset, showing its use over the period in accordance with the accrual concept and matching principle. The accrual concept and matching principle require cost to be matched to the revenue it helps to generate.
Explanation:
Transferred Assets:
Cost Book Value Difference Explanation
Cash $40,000 $40,000 $0
Accounts Receivable 75,000 68,000 $7,000 (doubtful accounts)
Inventory 50,000 50,000 $0
Land 35,000 35,000 $0
Buildings 160,000 125,000 $35,000 (depreciation)
Equipment 240,000 180,000 $60,000 (depreciation)
Answer:
By the midpoint formula, his income elasticity of demand for pro football game tickets is equal to <u>+3</u>, and football game tickets are <u>normal</u> goods.
Explanation:
The formula for calculating income elasticity of demand using the midpoint method is:
income elasticity of demand = {change in quantity demanded / [(old quantity + new quantity) / 2]} / {change in income / [(old income + new income) / 2]}
= {2 / [(2 + 4) / 2]} / {10,000 / [(40,000 + 50,000) / 2]} = (2 / 3) / (10,000 / 45,000) = 0.67 / 0.222 = 3
when the income elasticity of demand is higher than 1, the goods are normal goods.
Answer:
Explanation:
1. Present value = Annuity amount * PVA (n=4;i=10%)
250,000 = Annuity amount*3.16987
Annuity amount = $78,868
2. Present value = Annuity amount * PVA (n=5;i=8%)
250,000 = Annuity amount* 3.99271
Annuity amount = $62,614
3. i = 10%
Annual payments = $51,351
250,000 = 51,351 *X
X = 4.86845
When looking at the table of present value of an ordinary annuity, PVA of 4.86845 and i=10%, ⇒ n = 7 payments
4.
Payments = 104,087
n = 3
250,000 = 104,087*X
X = 2.40184
When looking at the table of present value of an ordinary annuity, PVA of 2.40184 and n=3, ⇒ i = 12%
<span>The correct answer for the question that is being presented above is this one: "Bricks Construction might not have enough funds to implement a project int he community, the employees also have difficulty in managing the program, then it will be a difficult to sustain most especially economic's downside."</span>
Answer:
B
Explanation:
The capital market serves as an intermediator between households and firms. In a classic economic model, households are owners of capital resources, but firms need these resources to operate. Then, the capital market allows that households rent their capital resources to firms and firms pay them back. It is a beneficial allocation of resources for households and for firms.