Placid Oil Corporation purchased an offshore lease c total acres. Proved reserves are found on a 1,000-acr 5,000 acres. Management decides to reclassify onlyt REQUIRED: Prepare the entry to reclassify the acre

Q: Define and expain

A: Detailed Explanation of Nursing1. Patient Care:Direct Care: Nurses provide hands-on care to…

Q: Definition of Marco

A: Macroeconomics is the study of how the economy behaves in broad outline. It is largely concerned…

Q: A figured out

A: Pre determined Overhead rate Calculation  Overhead cost  $      28,80,000 Divided By  Direct…

Q: What is the SML? What is the CAPM? What is the APT?

A: Security Market Line (SML):The Security Market Line (SML) is a graphical representation of the…

Q: hat is APY

A: In interest there is compounding and other is simple interest. In the compouding there is interest…

Q: how this 0.625 comes ?

A: Coupon bond comes with semiannual coupons at a certain rate.  This is the amount of cash received in…

Q: Define Volcker rule

A: Volcker Rule is a regulation that implies restrictions on the banks to involve in the stock market…

Q: 17. What are the key features of ERISA?

A: The Employee Retirement Income Security Act of 1974 (ERISA) is a federal statute that provides basic…

Q: What is CAPM? How about APT?

A: CAPM and APT are two common models for pricing used in finance. These are explained below.

Q: Define the term realization principle.

A: Accounting: Accounting refers to the information system, where the economic activities of a…

Q: 1. Descibe JIT production and its features.

A: Just in time production represents the reduction in labor, material, and time so that the cost could…

Q: Define unicorn

A: The term Unicorn in finance was popularized by Aileen Lee, a popular venture capitalist &…

Q: Define agent

A: Introduction: An agent is a party that has oral or written authority to perform for another…

Q: Describe about the NOL.

A: NOL means Net Operating Loss. This is a situation when company's deductions are more than it's…

Q: What is a CMO?

A: A collateralize mortgage obligation (CMO) refers to a type of mortgage-backed security that contains…

Q: Define Will.

A: A will is a legal document in which a person specifies how his property is going to be distributed…

Q: I Need Formulation

A: Part a: Contribution margin ratio for 2012=Net sales-Total variable costNet…

Q: what about quesitons E and F?

A: Work in progress (WIP) also called work in process, is inventory that has begun the manufacturing…

Q: Explain FIFO & LIFO

A: The answer is provided as follows:

Q: What is APR?

A: In US, calculation as well as disclosure of Annual Percentage Rate is basically government by an act…

Q: Working/Application of ABC analysis?

A: Solution Activity based coating (ABC) is a method of assigning overhead and indirect cost -Such as…

Capital Gain

Any capital asset when sold can give the seller a higher or lower price from its purchase price leading to a capital gain or capital loss. The time period of holding an asset is decided based on if it is a long term or short-term capital gain. On that basis, the rate of taxation is decided if it is 20%, 15% or according to the tax brackets. The rate of taxation differs in the case of equity or debt, whether long or short term. The capital gain can be adjusted from capital loss to arrive at a net capital gain. The amount of gains and the exemption has to be reported in the tax return filed in the financial year in which the asset was transferred. The tax return can be filed quarterly, monthly, semi-annually or annually.