Exercise 8-2 Recording costs of assets LO C1 Cala Manufacturing purchases land for $390,000 as part of its plans to build a new plant. The company pays $33,500 to tear down an old building on the lot the and $47,000 to fill and level the lot. It also pays construction costs of $1,452,200 for the new building and $87,800 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash.

Answers

Answer 1

Answer:Please see answers in explanation column

Explanation:

Given that,

Purchase price of land = $390,000

tear down cost old building = $33,500

Costs to fill and level lot =  $47,000  

Total cost of land = Purchase price of land +tear down cost on old building + Costs to fill and level lot

=$390,000 + $33,500+ $47,000  

= $470,500

Therefore, the journal entry is as follows:

To record the costs of plant assets

Account titles and explanation             Debit                 Credit

Land                                                      $470,500

Land improvements                              $87,800        

Building/construction costs                  $1,452,200

     To cash                                                                            $2,010,500


Related Questions

The cost of equity is ________. the interest associated with debt the rate of return required by investors to incentivize them to invest in a company the weighted average cost of capital equal to the amount of asset turnover

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Answer:

If an = 3n - 2 , find a2

Explanation:

If an = 3n - 2 , find a2If an = 3n - 2 , find a2

What is choice ? Choice is problem how

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Answer:

Problem of choice refers to the allocation of various scarce resources which have alternative uses that are utilized for the production of various commodities and services in the economy for the satisfaction of unlimited human wants.

You have been hired as a consultant to Freedom Inc. a consumer-focused financial institution intending to enter the Ghanaian market. Critically analyse what factors you shall consider in advising Freedom Inc. on how it should set its lending interest rates, accounts commissions, fees & charges

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Answer:

firstly; the area to start with. find out more about the place. Their income and the rate at which goods are sold there.

The U.S. has a treaty with Mexico to not deal in historical artifacts in order to preserve the artifacts in the country they came from. An archaeologist in Mexico who has previously been selling artifacts to American buyers:

Answers

An archaeologist in Mexico who sells artifacts to the American buyers previously will not sell the artifacts.

In this case, there's a treaty with Mexico by the United States to not deal in historical artifacts, therefore the archeologist won't sell the artifacts to the buyer from America.

There's no right to sell the artifacts and the archaeologist won't want to break the law because this may lead to a negative consequence.

Therefore, the best thing to do is not to sell the artifacts.

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Question 2 Which of the following are wholesale and which are retail? (a)Large-scale deposits made by firms at negotiated rates of interest. .............................retail / wholesale (c)Deposits in savings accounts in high street banks. ......................................................retail / wholesale (b)Loans made by high street banks at published ratesof interest. ..................................retail / wholesale (d)Deposits in savings accounts in building societies .......................................................retail / wholesale (e)Large-scale loans to industry syndicated through several banks. ................................retail / wholesale​

Answers

Answer:

Wholesale banking refers to banking services sold to large clients, such as other banks, other financial institutions, government agencies, large corporations, and real estate developers. It is the opposite of retail banking, which focuses on individual clients and small businesses. Wholesale banking services include currency conversion, working capital financing, large trade transactions, mergers and acquisitions, consultancy, and underwriting, among other services

How have engineer contributed to the society?Explain​

Answers

Explanation:

Engineers contributed very significantly to a country's development from an agricultural economy to the one that includes manufacturing communication services and exploration to the country's natural resources like 10 hydro power oil and gas

​Brett's Gift Box estimates that it will sell​ 30,000 porcelain figurines next year. Because porcelain figurines are so easily​ damaged, the average per unit carrying cost of the figurines is​ $25. The per order cost of ordering is​ $800. Assume that Brett wants a safety stock of 75 figurines. If Brett reorders the figurines based on the economic order​ quantity, what is​ Brett's average inventory of porcelain​ figurines?

Answers

If Brett reorders the figurines based on the economic order​ quantity, Brett's average inventory of porcelain​ figurines is 768 units.

The economic order quantity is computed as the square root of (2 x Annual Sales Unit (Demand) x Ordering Cost)/Carrying Cost

= square root of (2 x 30,000 x $800)/$25

= square root of 1,920,000

= 1,386 units

Average inventory = (Economic Order Quantity)/2 + Safety stock

= 1,386/2 + 75

= 693 + 75

= 768 units

Thus, Brett's Gift Box average inventory of porcelain figurines is 768.

Learn how to calculate average inventory and the use of economic order quantity here: https://brainly.com/question/5525521 and https://brainly.com/question/9068415 respectively.

Data:

Estimate sales units for next year = 30,000 porcelain figurines

Average per-unit carrying cost = $25

Per-order Ordering Cost = $800

Required safety stock = 75 figurines

S. Wang and T. Wu are partners with equal capital balances of $50,000 each. They agree to let J. Li invest $20,000 in their partnership for a 10% interest, including bonuses to the existing partners. The journal entry to reflect the bonus to Wang will include a credit to _______ in the amount of ______.

Answers

The journal entry to reflect the bonus to Wang will include a credit to Wang, Capital in the amount of $4,000

First step is to calculate S. Wang and T. Wu and  J. Li capital amount

Capital=$50,000+$50,000+$20,000

Capital=$120,000

Second step is to calculate their new capital

New capital=$120,000*.10

New capital=$12,000

Now to determine Wang bonus amount we have to divide the capital equally between S. Wang and T. Wu

Bonus=($20,000-$12,000)/2

Bonus=$8,000/2

Bonus=$4,000

Therefore journal entry to reflect the bonus to Wang will include a credit to Wang, Capital in the amount of $4,000

 

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tổ chức kiểm toán nội bộ cho hoạt động quản lý hàng tồn kho

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Answer:

Hmmmmmmmm its động

Explanation:

Yw

Answer:

I don’t know

Explanation:

Use the Circular Flow Model to explain how the economy of Bangladesh functions.

Answers

Answer:

What Is the Circular Flow Model?

The circular flow model demonstrates how money moves through society. Money flows from producers to workers as wages and flows back to producers as payment for products. In short, an economy is an endless circular flow of money.

That is the basic form of the model, but actual money flows are more complicated. Economists have added in more factors to better depict complex modern economies. These factors are the components of a nation's gross domestic product (GDP) or national income. For that reason, the model is also referred to as the circular flow of income model.

Explanation:

On January 2, 2021, Cullumber Hospital purchased a $106,000 special radiology scanner from Bella Inc. The scanner had a useful life of 4 years and was estimated to have no disposal value at the end of its useful life. The straight-line method of depreciation is used on this scanner. Annual operating costs with this scanner are $104,000. Approximately one year later, the hospital is approached by Dyno Technology salesperson, Jacob Cullen, who indicated that purchasing the scanner in 2021 from Bella Inc. was a mistake. He points out that Dyno has a scanner that will save Cullumber Hospital $25,000 a year in operating expenses over its 3-year useful life. Jacob notes that the new scanner will cost $110,000 and has the same capabilities as the scanner purchased last year. The hospital agrees that both scanners are of equal quality. The new scanner will have no disposal value. Jacob agrees to buy the old scanner from Cullumber Hospital for $57,500.
(a) Your answer is correct.
If Twilight Hospital sells its old scanner on January 2, 2022, compute the gain or loss on the sale.
(b) Prepare an incremental analysis of Twilight Hospital. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Should Twilight Hospital purchase the new scanner on January 2, 2022?

Answers

Answer:

Explanation:

EI lá, nn sou da área da matemática, foi mal

Raul owned a small graphic design business. He used 3-D software and computers to create animations for his clients. Which factor of production do the computers represent

Answers

The factor of production that the computers represent is physical resources.

Factors of production refers to the resources that are used for production. Example of factors of production include land, labor, capital, entrepreneurship, physical resources etc.

Physical resources simply means the tangible items that a business uses for its operation. Examples of physical resources include buildings, raw materials, machinery, computer systems etc.  

In conclusion, computer is a physical resource.

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Under what circumstances could the Government use open market operations?

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Answer:

market operations ? markets have operations?

Answer:

the federal reserve buys and sells government securities control the money supply and interest rates.

Which cash flows should be included in the Investing Section of the statement of cash flows under US GAAP?

Answers

Under US GAAP, the cash flows that should be included in the Investing Section of the Statement of Cash Flows are purchases of physical assets, investments in securities, or the sale of securities or assets.

This implies that US GAAP does not allow interest paid or received and dividends received to be classified under the Investing Section, unlike IFRS that gives entities the flexibility to classify the above items as either investing or financing activities.

Instead, the US GAAP requires that the above items are classified as operating cash flows.

Thus, the only cash flows that are included in the Investing Section of the statement of cash flows under US GAAP are cash flows (inflows and outflows) related to long-term physical assets and investments.

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The rate at which revenue was generated​ (in millions of dollars per​ year) for a certain company for the years 2010 through 2016 can be approximated by ​f(t)=348e0.22t ​(10≤t≤​16), where t=10 corresponds to the start of the year 2010. Find and interpret ∫1016f(t)dt.

Answers

The revenue of a company represents the income generated by the company within a time frame. The total revenue generated by the company from the start of 2010 to the start of 2016 is $39.16 billion

Given that:

[tex]f(t) = 348e^{0.22t}[/tex]  [tex]10 \le t \le 16[/tex]

First, we calculate the integral

[tex]\int\limits^{16}_{10} {f(t)} \, dt[/tex]

This is calculated as:

[tex]\int\limits^{16}_{10} {f(t)} \, dt = \int\limits^{16}_{10} {348e^{0.22t}} \, dt[/tex]

Remove the constant

[tex]\int\limits^{16}_{10} {f(t)} \, dt = 348\int\limits^{16}_{10} {e^{0.22t}} \, dt[/tex]

Now, integrate

[tex]\int\limits^{16}_{10} {f(t)} \, dt = 348 \times \frac{1}{0.22} (e^{0.22t})|\limits^{16}_{10}[/tex]

[tex]\int\limits^{16}_{10} {f(t)} \, dt = \frac{ 348}{0.22} (e^{0.22t})|\limits^{16}_{10}[/tex]

Expand

[tex]\int\limits^{16}_{10} {f(t)} \, dt = \frac{ 348}{0.22} (e^{0.22\times 16} -e^{0.22\times 10} )[/tex]

[tex]\int\limits^{16}_{10} {f(t)} \, dt = \frac{ 348}{0.22} (e^{3.52} -e^{2.2} )[/tex]

[tex]\int\limits^{16}_{10} {f(t)} \, dt = \frac{ 348}{0.22} \times 24.759[/tex]

[tex]\int\limits^{16}_{10} {f(t)} \, dt = 39164.2[/tex]

From the question

[tex]t = 10[/tex] represents the start of 2010.

This means that

[tex]t = 16[/tex] represents the start of 2016.

So, the interpretation is:

The total revenue from the start of 2010 to the start of 2016 is $39.16 billion

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Suppose money invested in a hedge fund earns 1% per trading day. There are 250 trading days per year. What will be your annual return on $100 invested in the fund if the manager allows you to reinvest in the fund the 1% you earn each day

Answers

Net: annual investment return is $250
Revenue : Annual Investment return $350

describe how to create customer confidence
write a statement to describe the above criteria

Answers

Answer:

10)ways to build customer confidence and trust

1)Anticipate customer needs. How do you build

2)customer trust? ...

3)Be transparent about product knowledge. ...

Own your mistakes. ...

4)Be clear. ...

5)Share customer experiences. ...

4)Make the buying experience easy. ...

7)Be empathetic. ...

8)Teach rather than sell

9)Add a personal touch

10)follow through on promise

Schapp Corporation keeps careful track of the time required to fill orders. The times recorded for a particular order appear below: Hours Move time 3.8 Wait time 11.6 Queue time 8.0 Process time 2.7 Inspection time 1.6 The throughput time was:

Answers

Answer:

the throughput time is 16.1 hours

Explanation:

The computation of the throughput time is shown below:

Move time 3.8  

Queue time 8.0  

Process time 2.7  

Inspection time 1.6  

Throughput time 16.1 hours

Hence, the throughput time is 16.1 hours

We simply added the above times so that the correct time could come

Use the following to answer question 22: Fleeting Moscow Nights currently manufactures vodka as its main product. The costs per unit are as follows: Direct materials and direct labor $33 Variable overhead Fixed overhead Total 22. Fleeting Moscow Nights Inc has contacted Old Prof Mullen with an offer to sell him 5,000 bottles of premium KGB vodka for $54 each. If that Sly Old Prof makes his own KGB vodka, variable costs are $48 per unit (DM and DL = $33 and VOH = $15). Fixed costs are $24 per unit; however, $15 per unit is unavoidable. Should the Old Prof make or buy the vodka?
A) Buy; savings = $45,000
B) Buy; savings = $15,000
C) Make; savings = $30,000
D) Make; savings = $15,000

Answers

Answer:

hihihihihihi ola oal oaad

______ occur whenever a third party receives or bears costs arising from an economic transaction in which the individual (or group) is not a direct participant.

a. Pecuniary benefits and costs
b. Externalities
c. Intangibles
d. Monopoly costs and benefits

Answers

The choose b. Externalities

Externalities occur whenever a third party receives or bears costs arising from an economic transaction in which the individual (or group) is not a direct participant.

I hope I helped you^_^

Its investment bankers have told Donner Corporation that it can issue a 25-year, 8.1% annual payment bond at par. They also stated that the company can sell an issue of annual payment preferred stock to corporate investors who are in the 40% tax bracket. The corporate investors require an after-tax return on the preferred that exceeds their after-tax return on the bonds by 1.0%, which would represent an after-tax risk premium. What coupon rate must be set on the preferred in order to issue it at par? (hint: a portion of dividends are tax-exempt for corporate investors).

Answers

The coupon rate must be set at 9.77%

The after-tax return on the bonds is:

= Annual payment rate * ( 1 - tax rate)

= 8.1% * ( 1 - 40%)

= 4.86%

The investors would like an after-tax return on preferred stock that is more than their bond return by 1% so they would like a preferred return of:

= 4.86% + 1%

= 5.86%

If the Preferred must be issued at par, its coupon rate must be equal its before-tax yield:

= After tax yield / ( 1 - tax rate)

= 5.86% / ( 1 - 40%)

= 9.77%

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Answer:

9.77 is the correct answer

i think this helps u

What should Yelk set as the direct labor rate per hour?

Answers

Explanation:

30%

hope so it helps you

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In his work Divine Comedy, the 14-century Italian poet Dante described a trip into space. As he traveled away from Earth, he visited the following celestial bodies in order: the moon, Mercury, Venus, the sun, Jupiter, and Saturn. What view of solar system structure did Dante hold? How do you know? Compare this view with a modern understanding of the solar system’s structure.

Answers

According to Italian poet Dante;

Dante believed in a geocentric conception of the planetary system, wherein the Earth seems to be at the centre while the moon, sun, and other planets revolve around it.

Explanation:

Researchers understand Dante had a geocentric perspective of the solar system since he would have visited Venus earlier Mercury in a sun-centered worldview.According to Dante's interpretation of the solar system, the crescent, sun, and planet all revolve around Earth. According to current thinking, only the moon revolves Earth; the Earth and then all the planets remain in orbit of sun.

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The lender charges you $9 per week for each $100 you borrow.
Assuming you borrow $300 for 2 weeks, what APR will you be paying?

Answers

Answer:

i believe 2,107.5711%

Explanation:

Which of the following would not be appropriate to consider in the physical design of a data center?
A
Inclusion of an uninterruptible power supply system and surge protection
B
Use of biometric access systems
С
Evaluation of potential risks from railroad lines and highways
D
Design of authorization tables for operating system access

Answers

It is not appropriate to consider this in the physical design of a data center: D  Design of authorization tables for operating system access.

The physical design of a data center has nothing to do with the design of authorization tables for operating system access, which is mainly a logical control device, and not a physical control.

This factor is actually taken care of after the data center has been located, designed, built, and fully equipped for operation.  Moreover, the design of authorization tables for operating system access has something to do with logical controls and not physical controls.

However, during the physical design, there is always the need to consider the inclusion of an uninterruptible power supply system, surge protector, bio-metric access systems, and the potential risks from railroad lines and highways.

Thus, the issue that should not be considered in the physical design of a data center is the design of authorization tables for operating system access.

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introduce the concept of creativity and innovation​

Answers

Creativity is the capability or act of conceiving something original or unusual. 

Innovation is the implementation of something new that has never been made before and is recognized as the product of some unique insight.

A company estimates that an average-risk project has a wacc of 10 percent, a below-average risk roject has a cost of capital of 8 percent, and an above-average risk project has a cost of capital of 15 percent. Which of the following independent projects should the company accept?

a. Project A has average risk and an IRR = 9 percent.
b. Project B has below-average risk and an IRR = 8.5 percent.
c. Project C has above-average risk and an IRR = 11 percent.
d. All of the projects above should be accepted.
e. None of the projects above should be accepted.

Answers

Answer:

I feel so bad for you i don't have that work yet

John was ordering orange cones to use for soccer drills during practices. If John decided to purchase cones now, he would buy 10 sets at $5 per set. If he decided to purchase the cones at a later time when the demand decreased, he would purchase 14 sets at $3 per set. Using the mid-point formula, the own-price elasticity of the soccer cones is __________.

Answers

The own-price elasticity of the soccer cones is -0.67

The computation of the own-price elasticity of the soccer cones is as follows:

We know that

The Elasticity of demand is

= (change in quantity ÷ average quantity) ÷ (change in price ÷ average price)

Here

Change in quantity = 14 - 10 = 4

average quantity = (14 + 10) ÷ 2 = 12

change in price = 3 - 5 = -2

average price = (3 + 5) ÷ 2 = 4

So,

The Elasticity of demand is

= (4 ÷ 12) ÷ (-2 ÷ 4)

= -0.67

Therefore we can conclude that the own-price elasticity of the soccer cones is -0.67

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explain business with two Examples

Answers

Explanation:

A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. ... The term "business" also refers to the organized efforts and activities of individuals to produce and sell goods and services for profit.

Example Coca-Cola, Amazon etc.

Answer:

A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. ... There are various forms of a business, such as a limited liability company (LLC), a sole proprietorship, a corporation, and a partnership

Tại một doanh nghiệp đóng và sửa chữa tàu, sản phẩm thuộc đối tượng chịu thuế GTGT, tính thuế GTGT theo PP khấu trừ. Doanh nghiệp nhập que hàn trực tiếp từ Công ty TNHH Kim Tín, Trong kỳ có tài liệu như sau: * Trích số dư đầu kỳ: Que hàn KT421 - 2.5: 400kg x 19.000 đồng/kg Que hàn KT421 - 3.0: 1.200kg x 19.000 đồng/kg Que hàn KT6013 - 4.0 : 500kg x 18.800 đồng/kg Que hàn GL48 -5.0: 700kg x 20.000đ/kg * Trong kỳ có các nghiệp vụ kinh tế phát sinh như sau: 1. Mua Que hàn KT421 - 2.52.000 kg nhập kho, đơn giá chưa VAT% 19.500đồng/kg, chưa thanh toán. Chi phí vận chuyển bốc dỡ 100 đồng/kg, đã thanh toán bằng tiền mặt. 2. Que hàn KT6013 - 4.0 1.500 kg nhập kho, đơn giá chưa VAT 10% 19.300 đồng/kg, chi phí trước khi nhập kho là 100 đồng/ kg, chưa thanh toán cho người bán và người bốc xếp. 3. Que hàn GL48 -5.0 500 kg nhập kho, đơn giá chưa VAT 10% 21.000 đồng/kg, chưa thanh toán. Chi phí vận chuyển là 500 đồng/kg, đã thanh toán bằng tiền mặt giúp cho Nhà cung cấp. 4. Xuất 1.600kg Que hàn KT421 - 2.5, 500kg Que hàn KT6013 - 4.0 để đóng tàu SG125 5. Xuất Que hàn KT421 - 3.0để đóng tàu SG130 là 500 kg; 50 kg sử dụng cho phân xưởng sửa chữa.

Answers

Translation

At a shipbuilding and repair company, products are subject to VAT, and VAT is calculated according to the withholding PP. Enterprises import welding rods directly from Kim Tin Co., Ltd.

In the period, there are documents as follows: Deduction of opening balance: KT421 - 2.5 welding rod: 400kg x 19,000 VND/kg Welding rod KT421 - 3.0: 1,200kg x 19,000 VND/kg Welding rod KT6013 - 4.0 : 500kg x 18,800 VND/kg Welding rod GL48 -5.0: 700kg x 20,000 VND/kg

* During the period, there were arising economic transactions as follows:
1. Buying KT421 - 2.52 welding rod .000 kg stocked, unit price excluding VAT% 19,500 VND/kg, unpaid. The cost of loading and unloading is 100 VND/kg, paid in cash.
2. Welding rod KT6013 - 4.0 1,500 kg imported, unit price excluding VAT 10% 19,300 VND/kg, cost before warehousing is 100 VND/kg, not yet paid to seller and loader.
3. Welding rod GL48 -5.0 500 kg in stock, unit price excluding VAT 10% 21,000 VND/kg, unpaid. Shipping cost is 500 VND/kg, paid in cash for the Supplier.
4. Export 1,600kg KT421 - 2.5 welding rod, 500kg KT6013 - 4.0 welding rod for SG125 shipbuilding
5. KT421 - 3.0 welding rod for SG130 shipbuilding is 500 kg; 50 kg used for repair workshop.
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