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3 years ago

Requirement 1. Fill in the missing amounts. Begin by completing the income statement.

Business

1 answer:

Tcecarenko [31]3 years ago

4 0

Answer:

Excerpt from Duty, Honor, Country / Every Man a King

General Douglas MacArthur / Huey P. Long

Duty, Honor, Country / Every Man a King

By: General Douglas MacArthur / Huey P. Long

Excerpt of Duty, Honor, Country

General Douglas MacArthur

Explanation:

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Alin Co. purchases a building for $300,000 and pays an additional $30,000 for closing costs (brokerage, title, attorney fees). A

Yuri [45]

Answer:

The answer is: $350,000

Explanation:

When Alin Co. establishes the total cost of the building it just purchased, it must include all of the following:

building's purchase value $300,000
associated closing costs $30,000
building improvements and renovations $20,000

So the total cost of the building is $300,000 + $30,000 + $20,000 = $350,000

3 0

3 years ago

Internal control does not consist of policies and procedures that

kotegsom [21]

Answer:

d.guarantee the company will earn a profit

Explanation:

Internal controls are controls put in place by management to mitigate against identified risk. Risk basically refers to what could go wring in a process. Controls are put in place to mitigate against the risk of error or fraud and do not necessarily prevent the company from making a loss.

Companies make profit or loss based on management's decisions such as where to invest, what time to invest, introduction of a new product, management of cost of sales and operating expenses etc

Internal controls basically consist of policies and procedures that ensure that the company's asset are not misused (fraud), no misrepresentation of revenue (fraud), employees and managers comply with laws and regulations, business information is accurate ( no misrepresentation of records due to error) etc.

Hence Internal control does not consist of policies and procedures that guarantee the company will earn a profit.

The right option is d.

4 0

3 years ago

Discuss the rationale of organizing an industrial strike in resolving employee dispute with the state, focusing on the detriment

WINSTONCH [101]

Answe

Explanation:

Discuss the rationale of organizing an industrial strike in resolving employee dispute with the state, focusing on the detrimental effects strikes has on various stakeholders in an economy

6 0

4 years ago

Patio Creations is a manufacturer of outdoor furniture. Typically, customers purchase the company's products as the summer seaso

dmitriy555 [2]

The supply chain strategy that would work best for Patio Creations is the push strategy. This is further explained below

<h3>What is a push strategy?</h3>

A push marketing strategy, also known as a push promotional approach, is sim[ply defined as mone in which a company strives to take push its items to customers.

In conclusion, the push strategy helps the company strives to push its items to customers.

Read more about Business

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7 0

2 years ago

During 2020, Karen Building Company constructed various assets at a total cost of $12,600,000. The weighted average accumulated

Ivan

Answer:

a. $842,250

b. $842,250

Explanation:

The computation is shown below:

a. For avoidable interest

<u>Weighted average Interest rate applied avoidable interest</u>

<u>accumulated expenditures </u>

$5,205,000 10% $520,500

$2,925,000 11% $321,750

Total $842,250

($8,130,000 - $5,205,000)

Working note for interest rate applied

<u>Particulars Principal Interest</u>

12% ten year bond $6,047,000 $725,640

9% 3 year bond $3,023,500 $272,115

total $9,070,500 $997,755

Now the interest rate is

= $997,755 ÷ $9,070,500

= 11%

2. Now the total interest capitalized is

Total interest is

= $520,500 + $725,640 + $272,115

= $1,518,255

And, the total avoidable interest is $842,250

So we considered the lesser amount i.e. $842,250

6 0

3 years ago