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4 years ago

QUICKLY PLEASE ITS TIMED!!!!

Business

1 answer:

nlexa [21]4 years ago

4 0

Answer:

the results approach.

Explanation:

This is because this approach emphasises on the results and outcomes produced by the team.

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Cowboy Development incurred the following costs associated with the purchase of a piece of land that it will use to re-build an

Vesna [10]

Answer:

The amount should be recorded for the purchase of the land is $417500.

Explanation:

amount of land = sale price of the land - sale of salvaged parts + bemolition of the old buiding + land preparation and leveling

= $400000 - $20000 + $30000 + $7500

= $417500

Therefore, The amount should be recorded for the purchase of the land is $417500.

3 0

3 years ago

When using the allowance method, the adjusting entry to record estimated bad debt expense includes a ______. (Check all that app

Naddika [18.5K]

It should be noted that When using the allowance method, the adjusting entry includes a credit to Allowance for Doubtful Accounts debit to Bad Debt Expense.

<h3>What is allowance method?</h3>

The allowance method can be regarded as a method which involves setting aside a reserve for bad debts which could come up in the future.

The reserve is done on percentage of the sales generated in a reporting period,

Learn more about allowance method at;

brainly.com/question/4636062

5 0

3 years ago

on march 1 shipley resources entered into an agreement with the state of alaska to obtain rights 6 million 100,000 tons of miner

ololo11 [35]

Answer:

Hello your question is incomplete below is the complete question:

On March 1, 2018, Shipley Resources entered into an agreement with the state of Alaska to obtain the rights to operate a mineral mine for $6 million. The mine is expected to produce 100,000 tons of mineral. As part of the agreement, Shipley agrees to restore the land to its original condition after mining operations are completed in approximately five years. Management has provided the following possible outflows for the restoration costs that will occur five years from now:

Cash Outflow Probability

$ 300,000 25 %

400,000 50 %

500,000 25%

Shipley's credit-adjusted risk-free interest rate is 10%. During 2018, Shipley extracted 18,000 tons of ore from the mine. How much accretion expense will the company record in its income statement for the 2018 fiscal year?

A) $30,326.

B) $20,697.

C) $24,837.

D) $27,294.

answer : $20697 (B)

Explanation:

Determine how much accretion expense the company will record in its income statement

from the table

cash flow : $300000 * 25% = $75000

$400000 * 50% = $200000

$500000 * 25% = $125000

At the present value of $1,

number of years (n) = 5

interest (i) = 10% = 0.1

2018 accretion expense will be calculated as

($400000 * 0.62092) * 0.10 * 10/12 = $20697

7 0

3 years ago

Although mcdonald's (opening case) is competing in an unattractive industry, it has improved its performance by focusing on prod

Finger [1]

The resource based model.

The resource based approach says organizations should look inside their company for sources of improvement and competitive advantage rather than looking outside to their environment (such as their industry).

4 0

3 years ago

Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 300,000 shares of $10 par common stock and 50,000 shar

Kay [80]

Answer:

The journal entries have been given as under;

Explanation:

Cash 15,000*12 Dr.$180,000

Common Stocks 15,000*10 Cr.$150,000

paid in capital-common stock 15,000*(12-10) Cr.$30,000

Cash 5,000*51 Dr.$255,000

Preferred stocks 5,000*50 Cr.$250,000

Paid in Capital-preferred stock 5,000*1 Cr.$5,000

Cash 60,000*15 Dr.$900,000

Common Stocks 60,000*10 Cr.$600,000

Paid in Capital-common stocks 60,000*(15-10) Cr.$300,000

8 0

4 years ago