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nalin [4]
4 years ago
10

During 2016, Burr Co. made the following expenditures related to the acquisition of land and the construction of a building:

Business
1 answer:
Colt1911 [192]4 years ago
8 0

Answer:

$64,000 and $358,000

Explanation:

The computation is shown below:

For land:

= Purchase price of land + Legal fees for contracts to purchase land + Demolition of old building on site - Sale of scrap from old building

= $60,000 + $2,000 + $5,000 - $3,000

= $64,000

For building:

= Construction cost of new building (fully completed) + Architects’ fees

= $350,000 + $8,000

=$358,000

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A sales slip shows that $1,500 in merchandise has been sold and the sales tax rate is 4%. Generate the cash receipt's data.
Bingel [31]

Answer:

Cash receipt:

Particulars                      Amount

................................................................

Sales                              = $1,500

Sales tax @4.00 %        = $60

................................................................

Total                              =  $1,560

.................................................................

Explanation:

Data :

Merchandise cost in the sales slip = $1,500

sales tax rate for the merchandise = 4%

Now,

the cash receipt data will include the merchandise cost, the amount of tax and the total amount after including the tax

Thus,

The amount of tax on the merchandise = sales tax rate × Merchandise cost

or

The amount of tax on the merchandise = 0.04 × $1,500 = $60

Hence,

the total cost = cost of merchandise + the sales tax = $1,500 + $60 = $1,560

Cash receipt:

Particulars                      Amount

................................................................

Sales                              = $1,500

Sales tax @4.00 %        = $60

................................................................

Total                              =  $1,560

.................................................................

5 0
3 years ago
If you see someone moving furtively around your home what should you do
7nadin3 [17]
In this situation, i will probably call 911 and directly report the situation to the police as soon as possible. That person may be there for some innocent resorts, but his/her behavior is really suspicious and it is better to take precaution rather than have to deal with potential unwanted consequences
3 0
4 years ago
Discuss the organizational structure currently used by San’s Consulting and would you recommend the continuous use of this struc
zmey [24]

Answer:

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Explanation:

6 0
3 years ago
If the government allowed only one airline to serve the entire U.S. market, there would be a _____ loss associated with _____ ou
nirvana33 [79]

Answer:

the correct answer is

Dead weight

Reduced

8 0
3 years ago
Luca owns paper making business. His products feature pressed flowers and a natural edge. He has had great success selling his p
aleksklad [387]

Answer: joint venture

Explanation:

Since Luca doesn't have a lot of money to invest in this overseas expansion, his best option for a market entry strategy would be the joint venture.

A joint venture refers to a form of business whereby two or more parties come together and then pool their resources together in order for them to accomplish a certain task. In this case, the other party can come up with the fund which will be required for the business expansion.

5 0
3 years ago
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