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mel-nik [20]
3 years ago
7

Cart Co. purchased an office building and the land on which it is located for $750,000 cash and an existing $250,000 mortgage. F

or realty tax purposes, the property is assessed at $960,000, 60% of which is allocated to the building. At what amount should Cart record the building
Business
1 answer:
Nat2105 [25]3 years ago
5 0

Answer:

$600,000

Explanation:

The computation of the amount to be recorded for the building is shown below:

But first we have to determine the total acquisition cost of land which is as follows

= Cash + mortgage

= $750,000 + $250,000

= $1,000,000

Now it is mentioned that 60% is allocated to the building

So, it would be

= $1,000,000 × 60%

= $600,000

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During its first and second years of operations, Rogers Company, a corporation using a periodic inventory system, made undiscove
elena-s [515]

Answer:

Net Income understated by $20,000

Explanation:

In the first year, closing inventory was overstated by $80,000. The implications of the above would be,

Net Income for the first year would be overstated by $80,000

In the Second year,

Opening Stock would be overstated by $80,000

Due to this, cost of production stands overstated by $80,000.

Now, given in the question that closing stock for second year is overstated by $60,000 i.e profits are overstated by $60,000.

This means, the net effect on profits would be, $80,000 less $60,000 i.e $20,000 understated profits for the second year.  

4 0
3 years ago
Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is the copier paper for the compa
11111nata11111 [884]

Answer:

Straight rebuy

Explanation:

When a purchasing agent performs a straight rebuy, he/she is in a situation where the same products or services are bought over and over again on a relatively steady basis.

The products and services purchased are also simple and common products or services, nothing very complex or specialized that requires looking for new information or investigating who the best vendor might be.

5 0
3 years ago
Based on the Management in Action case, if an employee asks Korey for time off to take care of a sick child, Korey may believe t
yaroslaw [1]

Korey's perceptual bias is the fundamental attribution.

Fundamental attribution occurs if an individual tries to explain the behavior of another person based on his/her personality, rather than based on the situation.

This type of bias is shown by Korey because he:

  • Thinks the employee is lazy, which is related to personality features.
  • He does not consider the situation or the fact the employee needs time to take care of the child, and it is not just avoiding work.

Learn more in: brainly.com/question/13044778

5 0
3 years ago
How do fixed costs per unit​ behave?
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3 years ago
Listen to marisol and alicia's conversation and select who mentions each clothing item.
postnew [5]

Answer:

The correct answers are:

Pantalones:

Marison

Blusa :

Both

Abrigo:

Neither

Falda :

Alicia

Sandalias:

Neither

Zapatos :

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3 years ago
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