1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nezavi [6.7K]
3 years ago
5

Kitchen Supply Corporation obtained land, a factory, and manufacturing equipment in a lump-sum purchase for $990,000. An apprais

al set the value of the land at $592,800, the factory at $421,800, and the equipment at $125,400. Immediately after the purchase, the factory was renovated at a cost of $50,000. At what amount should Kitchen Supply record the factory?
Business
1 answer:
Papessa [141]3 years ago
6 0

The amount at which Kitchen Supply Corporation should initially record the Factory immediately after the purchase is <u>$421,80</u><u>0</u>.

However, the Renovation Cost of $50,000 should increase the amount of the Factory to <u>$471,800</u> ($421,800 + $50,000) immediately after the renovation.

<h3>Why is renovation cost capitalized?</h3>

The cost of renovation is usually capitalized because the cost needs to be recorded as an asset on the balance sheet, instead of an expense in the income statement.

Thus, the final amount the Factory should be recorded after the renovation is <u>$471,800</u>.

Learn more about asset capitalization at brainly.com/question/25999205

You might be interested in
Assume a $1,000 Treasury bill is quoted to pay 8% and matures in 3 months. 1. How much interest would an investor receive? (10 p
antiseptic1488 [7]

Answer:

i dont know

Explanation:

5 0
3 years ago
Use the following information to determine this company's cash flows from financing activities.
EastWind [94]

Answer:

See the explanation below.

Explanation:

<u>Details                                                                Amount ($) </u>

Issued common stock                                          74,000

Dividend paid                                                       (13,000)

Settlement of note payable                               (120,000)

Treasury stock acquired                                   <u> (120,000) </u>

Net cash flows from financing activities       <u> (179,000)  </u>

7 0
4 years ago
Douglas owns rental property that he bought several years ago for $250,000. He has taken depreciation on the house in the amount
Ket [755]

Answer:

Gain= $63,000

Explanation:

<u>First, we need to calculate the book value:</u>

<u></u>

Book value= purchase price - accumulated depreciation

Book value= 250,000 - 35,000

Book value= 215,000

<u>Now, the gain or loss from the sale:</u>

Gain/loss= selling price - book value - selling expense

Gain/loss= 290,000 - 215,000 - 12,000

Gain= $63,000

7 0
3 years ago
Blythe Company has provided the following​ information: Sales price per unit $ 45 Variable cost per unit 18 Fixed costs per mont
NemiM [27]

Answer:

Break-even point (dollars)= $21,667

Explanation:

Giving the following information:

Blythe Company has provided the following​ information: Sales price per unit $ 45 Variable cost per unit 18 Fixed costs per month $13,000

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 13,000 / [(45 - 18)/45]= $21,667

6 0
3 years ago
Efficiency is one of the ________________ impacts of technology on the workplace.
Scrat [10]

Efficiency is one of the <u>positive</u> impacts of technology on the workplace.

Technological advancement has resulted in many positive impacts on the workplace in both communication and production aspects. It has drastically increased the rate of production.

One of the most prominent impacts of technology on the workplace is the increased flow rate of work. People can communicate in different areas of the workplace more efficiently. Work that used to take hours before can now be done in minutes.

Measuring efficiency or productivity of workplace:

A simple method to have an idea about the efficiency or productivity of a workplace is to compare the input (total labor) and the output (total number of units produced).

Learn how worksheet creates an efficient process in the workplace from the link below
brainly.com/question/13415095?referrer=searchResults

#SPJ4

6 0
1 year ago
Read 2 more answers
Other questions:
  • Assume that during 2017, Cypress Semiconductor Corporation reported net cash provided by operating activities of $155,793,000, n
    11·1 answer
  • Pearce Corporation exchanges old equipment for new equipment. The original cost of the old equipment was $120,000, and its accum
    10·1 answer
  • Novak Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $
    12·2 answers
  • Use this information for Rylan Corporation to answer the question that follow. Rylan Corporation received an offer from an expor
    14·1 answer
  • Nick purchased a $100,000 participating whole-life insurance policy on his life. To date, he has paid $50,000 in total premiumsa
    10·1 answer
  • Prepare an income statement for the company for August For August, Royal Consulting and Mediation Practice (RCMP) worked 900 hou
    6·1 answer
  • Some risks can be mitigated
    13·1 answer
  • Walters manufactures a specialty food product that can currently be sold for $21.90 per unit and has 19,900 units on hand. Alter
    13·1 answer
  • On January 1, 2018, Legion Company sold $270,000 of 4% ten-year bonds. Interest is payable semiannually on June 30 and December
    15·1 answer
  • Franchisors agree to operate outlets in accordance with procedures prescribed by its franchisees. True false question. True Fals
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!