1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
andriy [413]
3 years ago
11

Emily purchased a building to store inventory for her business. The purchase price was $760,000. Emily also paid legal fees of $

300 to acquire the building. In March, Emily incurred $2,000 to repair minor leaks in the roof (from storm damage earlier in the month) and $5,000 to make the interior suitable for her finished goods and $300 for legal fees. What is Emily's cost basis in the new building?

Business
2 answers:
adelina 88 [10]3 years ago
6 0

Answer:

$765300

Explanation:

Please see attachment .

Kisachek [45]3 years ago
4 0

Answer: Emily's cost basis in the new building is $81,600

Explanation: Hi, the resolution of  this problem is :

$76,000(purchase price) + $600 (legal fees) + $5000(improvements) =$81,600

The $2000 repair of the minor leaks in the roof is not a capitalized cost, it´s a routine maintenance expenditure.

The improvements in the building and the legal fees would be capitalized as expenses to begin using the building.

Emily's cost basis in the new building is $81,600

You might be interested in
Roadway Corporation produces a special line of plastic toy racing cars. Roadway Corporation , produces the cars in batches. To m
r-ruslan [8.4K]

Answer:

the efficiency variance for variable overhead setup costs is $4,810 favorable

Explanation:

The computation of the efficiency variance for variable overhead setup costs is shown below;

= ((15,700 ÷ 265) × 4.25) × $45 - ((15,700 ÷ 325) × 3) × $45

= $11,330.6604 - $6,521.5384

= $4,809.12 favorable

= $4,810 favorable

hence, the efficiency variance for variable overhead setup costs is $4,810 favorable

4 0
3 years ago
n the United States, many agricultural products (such as corn, wheat, and rice) are subsidized. What are the benefits of subsidi
schepotkina [342]

Answer:

lower prices for consumers and higher prices for producers 

Explanation:

the options to this question wasn't provided . Here are the options:

higher prices for consumers and producers lower prices for consumers and producers higher prices for consumers and lower prices for producers

lower prices for consumers and higher prices for producers 

A subsidy is when the government pays an individual or a firm directly or indirectly. It could be in the form of direct cash payment, tax breaks or grants. Subsidies are usually given to encourage the production of goods and services.

Subsidy on agricultural goods reduces the price paid for agricultural goods and increases supply of goods. It would increase the price earned by producers.

I hope my answer helps you

7 0
3 years ago
Freda is a cash basis taxpayer. In 2019, she negotiated her salary for 2020. Her employer offered to pay her $21,000 per month i
nataly862011 [7]

Answer:

A. N0

B. She may likely bargain for the payments that was reason been that she expects the payments to be in a lower marginal tax bracket in 2021

C. NO

Explanation:

a. No .Based on the information given the amount of $252,000 was NOT constructively received in the year 2020 reason been that She has the amount of $132,000 which is a deferred income amount that

is not constructively received in 2019 and the reason why the amount was not received was because been under the main contract terms she did not have the sole right to receive the income in the year 2020.

b. Freda's willingness to spread her salary over a longer period of time may be due to the fact that She may likely bargain for the payments reason been that she expects the payments to be in a lower marginal tax bracket in the year 2021

c. Based on the information given she is NOT in constructive receipt of the income in the year 2020.

4 0
3 years ago
______ buy and sell stolen property as one of the many ways that they make a living. they typically keep some of the profit and
Contact [7]
Arjun.............................................
8 0
3 years ago
In a command economy, who decides what goods will be produced?
mylen [45]
In a command economy, it is the b) government who decides what goods will be produced. 
4 0
3 years ago
Other questions:
  • Alden is beginning to learn how to write. he can hold a pencil in one hand and steady the paper with his other hand. this new ab
    9·1 answer
  • Small businesses are important to the U.S. economy because
    5·1 answer
  • Now consider machining jamming caused by both defective parts jamming and station malfunction. Assume component lot quality is a
    14·1 answer
  • The following cost data pertain to the operations of Swestka Department Stores, Inc., for the month of July.Corporate headquarte
    10·1 answer
  • The most important fundamental component of an entity's internal control is:
    11·1 answer
  • A client is currently training in the Hypertrophy Phase of the OPT model. Which phase of the flexibility continuum would be the
    15·1 answer
  • If the reserve requirement is 20% and commercial bankers decide to hold additional excess reserves equal to 5% of any newly acqu
    7·1 answer
  • Help plz! Will mark brainliest!!!
    11·1 answer
  • If unemployed workers decide to stop looking for a job and instead enroll in further education, how will the number of employed
    14·1 answer
  • _ is a method of measuring the effectiveness of altering one characteristic of a marketing asset such as a web page, a banner ad
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!