Answer:
1a. Recognized Gain $20,000
1b. Basis $625,000
Explanation:
1a. Calculation for Miller's recognized gain using this formula
Miller's recognized gain =Condemnation award-Costs of building a new office
Let plug in the formula
Miller's recognized gain=$850,000-$830,000
Miller's recognized gain=$20,000
Therefore Miller's recognized gain will be $20,000
1b.Miller's basis
Based on the information given we were told that Miller's office building had an adjusted basis of the amount of $625,000 which simply means that Miller's BASIS for the new office BUILDING will be the amount of $625,000
Therefore the Basis is $625,000
Answer:
By setting the price of goods and services at a level where the suppliers and consumers feel comfortable, the quantity of goods and services supplied will be the same as the quantity of goods demanded.
Explanation:
A price system is a means of arranging economic activities by setting the standard prices of goods and services in that particular economy. In this way the agents of demand and supply can have an estimate of the price of various goods and services. In this way, a supplier who doesn't know the price of a goods or service that he/she plans to sell to a different country or region can use the price system to adjust their selling price effectively. On the same note, the consumers can also acquire goods and services that they have never demanded before by using the price system to determine the standard prices for those goods or services.
Prices are a reflection of the consensus between suppliers and consumers about the value of goods and services. The equilibrium price can be defined as the price where the quantity of goods supplied equals the quantity demanded. By setting the price of goods and services at a level where the suppliers and consumers feel comfortable, the quantity of goods and services supplied will be the same as the quantity of goods demanded.
Answer: D
Explanation:subtract both values from balance according to books
<span>The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (GDP) and other macroeconomic variables. A business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. Economists note, however, that complete business cycles vary in length. The duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. Some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. But the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.</span>
Answer:
Direct Material Price Variances = ( Sp - Ap) Aq
= ( $1 - $0.75) *700
= (0.25)*700
= $175
Direct Material Quantity Variances = (Sq - Aq ) *Sp
= ( 600 -700)* $1
= (-100) *$1
= -$100
Total Material Variance = Quantity Variance + Price variance
= -$100 +$175
= $75
Direct Labor Expenditure Variance = ( Sr - Ar) *Ah
= ( $8 -$11) *50
= (-3) *50
= -$150
Direct Labor Efficiency = ( Sh -Ah ) *Sr
= (40-50)* $8
= (-10)* $8
= -$80
Total Labor Variance = Expenditure Variance + Efficiency Variance
= -$150 -$80
= -$230
Explanation:
The Question is incomplete but i have attached a complete question
Sp = Standard price
Ap = Actaul price
Sq = Standard Quantity = 6*100 = 600
Aq = Actual Quantity = 7*100 = 700
Sr = Standard Rate
Ar = Actual Rate
Ah = Actual Hours =0.5 *100 =50 hours
Sh = Standard hour = 0.4 *100 =40 hours
