Answer:
$10,000 credited
Explanation:
DATA
Machine cost = 510,000
Salvage value = $60,000
Useful life = 6 years
Depreciation = $60,000/6years
Depreciation = $10,000
It means that we have overstated depreciation expense for the year with the amount of $10,000.
Retained earnings will be credited by $10,000 As the depreciation expense was overstated mistakenly by $10,000
Answer:
The correct answer is D
Explanation:
Arrangement of manufacturing or processing-plant is the one which defines the relationship where the franchisor transmits or shifts to the franchisee for the essential ingredients or for the specifications in order to make the specific product. And then the franchisee will market at the retail or wholesale level as per the standards of the franchisor.
So, in this situation, the franchisor supplies the essential ingredients of the franchisee for his store and then the franchisee sold to customers the ice cream. Therefore, this relationship is regarded as manufacturing or processing-plant arrangement.
Answer:
$53,600
Explanation:
The computation of the cash flow from investing activities is shown below:
Cash flow from investing activities
Sale value of machinery $53,600
Net cash flow from investing activities $53,600
The current year depreciation expense is to be reported under operating activities and as we know that the investing activities record those activities which are held for purchased and sale of long term assets so the sale value fo machinery is only reported
If the government takes this approach, consumer surplus would increase.
A monopoly is when there is only one firm operating in an industry. A natural monopoly occurs when there is a high start-up cost associated with opening a business or a firm enjoys economies of scale.
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good. As the price of a good declines, consumer surplus increases. P2 is lower than P1, this means that if price is regulated to P2, consumer surplus would increase.
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Answer:
B. Cash in Bank account (debit) Interest on Loan account credit)
