Business, 18.11.2020 16:50 chrismax8673

A company paid $326,000 for property that included land, land improvements, and a building. The land was appraised at $175,000, the land improvements were appraised at $70,000, and the building was appraised at $105,000. What is the allocation of property costs to the three assets purchased and what is the journal entry to record this transaction?a) Land, $150,000. Land Improvements, S60,000; Building, $90,000 b) Land, $163,000; Land Improvements, $65,200; Building, $97,800 c) Land, $150,000; Land Improvements, $61,600; Building, $92,400 d) Land, $159,000; Land Improvements, $65,200; Building, $95,400 e) Land, $175,000; Land Improvements, $70,000; Building, $105,000

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 20:30

At a young age, ebony's coaches were confident she had the potential to be a world-class swimmer with a future coaching career. after four years on an athletic scholarship and olympic experience under her belt, she chose a different path. with her savings and personal connections, she rented a corner building in a bustling san francisco neighborhood and pursued her dream: a surf shop business. ebony's dream was rooted in which basic right of free-market capitalism?

Answers: 3

Answer

Business, 21.06.2019 22:40

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

Answers: 3

Answer

Business, 22.06.2019 04:00

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

Answers: 2

Answer

Business, 22.06.2019 07:20

Suppose that real interest rates increase across europe. this development will u.s. net capital outflow at all u.s. real interest rates. this causes the loanable funds to because net capital outflow is a component of that curve.

Answers: 1

Answer

You know the right answer?

A company paid $326,000 for property that included land, land improvements, and a building. The land...

Questions