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wariber [46]
3 years ago
9

Green Enterprises buys a warehouse for $600,000 to use for its East Coast distribution operations. On the date of the​ purchase,

a professional appraisal shows a value of $620,000 for the warehouse. The seller had originally purchased the building for$480,000. Green has a similar warehouse on the West Coast that has a book value of $612,000. Under the historical cost​ principle, Green should record the building for
Business
1 answer:
Lorico [155]3 years ago
8 0

Answer:

The warehouse should be recorded at $600000

Explanation:

The historical cost pricniple or convention is a really important convention in accounting that states and requires that assets should be recorded in the books at the orignal price thata was paid for them at the time of purchase. Thus, basing our decision on the historical cost principle, as Green Enterprises purchases the warehouse at a cost of $600000, it should be recorded at this cosy only.

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A manager can faithfully execute the decision making process but still end up with nothing of value if _________________________
xenn [34]

A) he fails to identify the correct problem

B) he fails to assign number values to different criteria

C) he solves the problem inefficiently

D) he fails to correctly identify the steps of the process

<u>Answer</u>:

A. He fails to identify the correct problem.

<u>Explanation</u>:

for option b, Assigning number values to decision criteria could be of help in the decision-making process, but it is not what is required for a successful outcome.

for option c, Solving the problem inefficiently is not ideal, but even at that, it is not without value.

for option d, Identifying the steps of the process has nothing much to do with how successful the process will be.

<em><u>This leaves us with option A as the correct answer. it is of no good to solve a problem especially if the problem being solves is the wrong one. Solving a wrong problem is of no good to the organization.</u></em>

8 0
2 years ago
The following information pertains to the Engineering department: Units Materials Completion % Conversion Completion % Work in p
mash [69]

Answer:

5,750 units were completed and transferred out of the Engineering department during January

Explanation:

This question requires us to calculate the number of units that were completed and transferred out during th month from engineering department. This can be solve easily with the help of equation given below.

Opening units + unit put in process = closing units + units transferred out

units transferred out = 24,000 + 1,750 -20,000

units transferred out  = 5,750 units

4 0
3 years ago
On December 31, Tremble Music had account balances in Accounts Receivable of $300,000 and in Allowance for Uncollectible Account
Maru [420]
D. 300,000 x 5% = 15,000
6 0
2 years ago
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, an auction
Leviafan [203]

Answer:

-5.95%

Explanation:

A = P(1+r)^n

A is the auction price at which the sculpture was sold = $10,331,500

P is the price the sculpture was purchased = $12,417,500

n is the time interval between the year of sales and year of purchase

10,331,500 = 12,417,500(1+r)^3

(1+r)^3 = 10,331,500/12,417,500

(1+r)^3 = 0.832

1+r = (0.832)^1/3

1+r = 0.9405

r = 0.9405 - 1 = -0.0595 = -5.95%

8 0
3 years ago
The johnsons are in an auto accident with a driver who lives near them in the same town. no one is injured and the johnsons' car
jek_recluse [69]

The Johnson's can't sue the driver in the Federal Court because the Johnson's live in the same state (since the driver lives near the Johnson's in the same time) and the damages ($5,000.00) are too small.  

6 0
3 years ago
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