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3 years ago

5

Using the allocation method, if the ratio of land value to building value is one to three and an improved property is valued at

$300,000, land value is

1 answer:

babunello [35]3 years ago

7 0

$100,000
1:3
X=$300,000
$300,000/3
1= $100,000

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At the beginning of the year, Uptown Athletic had an inventory of $640000. During the year, the company purchased goods costing

Nataly_w [17]

Answer:

Cost of Goods Sold = $1,700,000

Gross Proft = $1,740,000

Explanation:

We solve this assingemtn using the inventory identity:

$$$Beginning Inventory + Purchase = Ending Inventory + COGS$

We post the given and solve for the missing part:

640,000 + 2,020,000 = 960,000 + COGS

COGS = 640,000 + 2,020,000 - 960,000 = 1,700,000

Next we use the COGS value to calculate the gross profit.

$Sales \: Revenues- \: COGS = \: Gross \: Profit$

3,440,000 - 1,700,000 = 1,740,000

8 0

3 years ago

Tulip Corporation purchased equipment for $ 54 comma 000on January 1, 2017. On December 31, 2019, the equipment was sold for $

Digiron [165]

Answer:

Gain/loss= $1,000 loss

Explanation:

Giving the following information:

Original price= $54,000

Accumulated depreciation= $28,000

Seling price= $25,000

The gain or loss from selling an asset depends on the book value.

Book value= original price - accumulated depreciation

Book value= 54,000 - 28,000= 26,000

If the selling price is higher than the book value, the company gain from the sale.

Gain/loss= 25,000 - 26,000= $1,000 loss

6 0

2 years ago

You are thinking about buying a new car and will borrow $20,000 for this purchase at a 5 percent fixed rate for exactly one year

natita [175]

Answer:

You will pay back the lender exactly <u>$21,000</u>, which will represent <u>$20,600</u> of purchasing power.

Explanation:

you will pay back the lender exactly $21,000, which will represent $20,600 of purchasing power.

$20,000 for this purchase at a 5 percent fixed rate

=$20,000*5/100

=$20,000*0.05 = $1,000

=$20,000 + $1,000 = $21,000

Inflation will be 2 percent this year

=$20,000*2/100

=$20,000*0.02 = $400

=$20,000 + ($1,000 - $400)

=$20,000 + $600 = $20,600

3 0

2 years ago

Estée lauder would not choose to sell to cvs or dollar general because ________.

castortr0y [4]

Estée lauder would not choose to sell to cvs or dollar general because "<span>customer expectations."</span>

Estée Lauder would not choose to sell to CVS or Dollar General since its clients would not expect to shop at those stores for top of the line makeup. Rather, CVS may convey less costly cosmetic brands, as Revlon and Maybelline.

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3 years ago

A small private entity may use less formal means to ensure that internal control objectives are achieved. For example, extensive

Mama L [17]

I need help on this too

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3 years ago