What term is used to identify weather conditions at a particular location over a long period of time?

On January 1, 2021, Laramie Inc. acquired land for $9.6 million. Laramie paid $2.9 in cash and signed a 6% note requiring the co

Alexxandr [17]

Answer:

$9.6 million

Explanation:

The amount Laramie would record in its books of account in respect of the land acquisition cost is the sum of the cash paid now and the notes payable .

That effectively gives acquisition cost of $9.6 million ($2.9 million+$6.7 million).

The interest payable on the notes payable of $6.7 million would be treated as expense in the income statement of years 2021 and 2022 respectively without being added to the acquisition cost since it is a revenue expense and should not be capitalized.

6 0

3 years ago

Executive Solutions is a strategy consulting firm. Other than the senior leadership (who manage the firm, but do not actively co

saveliy_v [14]

Answer:

Income(Loss) $960,600;($397,400)

Explanation:

EXECUTIVE SOLUTIONS

Budgeted Income Statement

May June

Revenues:

Managers$1,231,900 $795,400

Staff $3,171,900 $2,250,400

Total revenue (i)$4,403,800 $3,045,800

Expenses:

Manager

compensation$749,300 $749,300

Staff compensation$1,558,400 $1,558,400

Total

compensation (ii)$2,307,700 $2,307,700

SG&A $553,500 $553,500

Depreciation $228,500 $228,500

Marketing $353,500 $353,50

Total

expenses (iii)$1,135,500 $1,135,500

Income(Loss)

(i)-(ii)-(iii) $960,600 ($397,400)

BMay June

Revenues:

Managers

[1,270 hours x $ 970] $1,231,900

[820 hours x $970] $795,400

Staff

[ 6,540hours x $485] $3,171,900

[4,640 hours x $485] $2,250,400

Expenses:

Manager compensation$749,300 $749,300

[2,540 hours x $295]

Staff compensation $1,558,400 $1,558,400

[9,740 hours x $160]

5 0

3 years ago

Explain just in time(JIT) approach?

amm1812

<span> is an inventory </span>strategy<span> companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.</span>

6 0

4 years ago

Colley Company uses the allowance method for bad debts and has the following information before the year end adjusting entry: Ac

Leona [35]

Answer:

If the company used the percentage of sale method and estimates bad debts to be 2% of sales what is the amount of bad debt expense:

D) 15,500

If the company uses the percentage of accounts receivable method and estimates 4% of accounts receivable will be uncollectible

A) 4,300

Explanation:

The percentage of sale method

800,000 2% 16,000

Initial Balance

Accounts Receivable $ 120,000

Allowance for Uncollectible Accounts $ 500

Allowance for Uncollectible Accounts $ 15,500

Accounts Receivable $ 15,500

Accounts Receivable Method 4% 4,800

Bad debt expense $ 4,300

Allowance for Uncollectible Accounts $ 4,300

8 0

3 years ago

One way that the world bank might experience an adverse selection in its own lending is if __________.

Sloan [31]

Adverse selection describes situations when high-risk persons are more likely to receive insurance or when one bargaining side has important knowledge that the other does not. Our goal is to influence decision-makers, both inside and outside of government, to consider the future and adopt long-term plans.

When vendors and/or purchasers have different knowledge about a certain component of a product's quality, this is referred to as adverse selection. Thus, those who work in hazardous environments or lead high-risk lives are more likely to buy life or disability insurance, knowing that they will likely be able to use it.

To learn more on world bank

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6 0

2 years ago