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Temka [501]
2 years ago
8

Carver Incorporated purchased a building and the land on which the building is situated for a total cost of $700,000 cash. The l

and was appraised at $320,000 and the building at $480,000.
Business
1 answer:
Ne4ueva [31]2 years ago
6 0

. The amount of the purchase cost that should be allocated to the land and building are as follows:

Land = $233,750

Building = $701,250

The company would not recognize a gain on the purchase but uses the appraised values to determine the costs to be allocated to the two assets.

c. Statements model:

 Balance Sheet                           Income   Statement                Statement of

                                                                                                       Cash Flows

Assets = Liabilities + Equity    Revenue - Expenses = Net Income

Cash            Land       Building  

($935,000) $233,750  $701,250  $0  -      $0          =       $0     ($935,000) IA

d. General Journal

Account Titles                   Debit       Credit

Land                             $233,750

Building                        $701,250

Cash                                              $935,000

<h3>Is a debit money in or out?</h3>

When your bank account is debited, money is taken out of the account.

The opposite of a debit is a credit, in which case money is added to your account.

Learn more about debit and credit here:

<h3>brainly.com/question/14283668</h3><h3 /><h3>#SPJ4</h3>
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Answer: Price of stock at year end =$53

Explanation:

we first compute the Expected rate of return using the CAPM FORMULAE that

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Expected return=6% + 1.2 ( 16%-6%)

Expected return= 0.06 + 1.2 (10%)

Expected return=0.06+ 0.12

Expected return=0.18

Using the formulae Po= D1 / R-g  to find the growth rate

Where Po= current price of stock at $50

D1= Dividend at $6 at end of year

R = Expected return = 0.18

50= 6/ 0.18-g

50(0.18-g) =6

9-50g=6

50g=9-6

g= 3/50

g=0.06 = 6%

Now that we have gotten the growth rate and expected return, we can now determine the price the investors are expected to sell the stock at the end of year.

Price of stock = D( 1-g) / R-g

= 6( 1+0.06)/ 0.18 -0.06

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3 0
3 years ago
Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transa
KengaRu [80]

Answer:

Kindly see attached organized table for clarity.

                                                                 Item cash      Net income

a  Purchase of Supplies of cash                 -$133                   -

b  Adjusting entry for use of supplies            -                     -$31

c  Made sales on account                               -                   $1,297

d Received cash from customer on acct   $865                  -

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Answer:

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Explanation:

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