Answer:
The correct answer is $0.16.
Explanation:
According to the scenario, the given data are as follows:
Total cost = $1,000,000
Total units = 5,000,000
Salvage value = $200,000
So, we can calculate the depletion expense per board foot by using following formula:
Depletion expense = ( Total cost - Salvage value) ÷ Total Units
By putting the value, we get
Depletion expense = ( $1,000,000 - $200,000) ÷ 5,000,000
= $0.16
Answer:
(2) Common ownership, shared profits and losses, and right to participate in managing the operations.
Explanation:
Partnership refers to a mutual agreement between 2 or more individuals agreeing to carry out a business and to share it's profits and losses in an agreed ratio or as per the clauses in partnership deed.
Uniform partnership act regulates partnership agreements in majority of United States. The act also allows remaining partners after dissolution to continue the partnership if majority of them desire to do so.
Under the act, Partnership is characterized by common ownership of assets and liabilities by all partners, sharing of partnership profits and losses and equal rights to participate in managing the operations of the partnership.
The Federal Reserve System controls the monetary policy in the United States. They influence short-term interest rates and also determine the size of the money supply. The Federal budget is very hard to balance and <span>has been a concern and is difficult to achieve. The President sends the budget to Congress who must approve it.
</span>
Answer: $27,000
Explanation:
Even though for GAAP reasons, revenue is to be recognized only when earned as per the Accrual principle of accounting, this is not so for the calculation of taxable income.
Taxable income is to be calculated on cash basis which means that taxes are to be paid on revenue when the revenue is received in cash and not when it is earned.
As Ral Corp. received the money in 2020, they are to include the entire amount of $27,000 in their 2020 taxable income for rent revenue.
Answer:
C. $65,800
Explanation:
Fixed csot: those which do not change for a relevant range with the production output. They aer constant.
Factory insurance 21,000
Factory insurance 13,000
Factory manager's salary 10,800
Janitor's salary 5,000
Property taxes: <u> 16,000 </u>
Total Fixed Cost: 65,800
The direct materials and direct labor are variable cost as they drop to zero if no unit is produced.
Same goes with packaging cost, if no unit is produced then, no packagin is needed.
