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timurjin [86]
3 years ago
13

Lorek company acquires land for $160,000 cash. additional costs are as follows: removal of shed, $500; filling and grading, $2,0

00; salvage value of lumber of shed, $120; broker commission, $6,000; paving of parking lot, $15,500; closing costs, $1,000. lorek company should record the acquisition cost of the land as
Business
1 answer:
hoa [83]3 years ago
8 0
$160,000 + $6,000 + $1,000 = $167,000. I don’t believe that the removal of the shed, filling and grading, or paving the parking lot would be considered part of the acquisition itself, so those values are there just to throw you off from the correct answer.
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Can someone give me an overview of Apple Inc. their success and best management practices?
Taya2010 [7]

Answer:

In particular, Apple demonstrated the following best practices, as identified in the article:

Identifying multiple suppliers for key components. ...

Refusing to ship potentially faulty products to customers. ...

Taking online orders initially. ...

Considering adding additional assemblers to meet pent up demand.

8 0
2 years ago
We can show economic​ efficiency: A. with points outside the production possibilities frontier. B. with points on and outside th
mojhsa [17]

Answer:

E. with points on the production possibilities frontier.

Explanation:

An economy is said to be effective if it employs all the available resources adequately well, not under-employing or even over-employing them. Over-employment is shown by points that lie outside the production possibility frontier. Underemployment on the other hand, is shown by points falling inside the production frontier. Therefore, the economic efficiency is shown with points on the production possibilities frontier. The correct answer is E.

8 0
3 years ago
The financial statements for Harold Corporation contained the following information: Accounts receivable $ 5,000 Sales revenue 7
worty [1.4K]

Answer: $45,000

Explanation:

Given that,

Accounts receivable = $ 5,000

Sales revenue = $75,000

Cash = $15,000

Salaries and wages expense = $20,000

Rent expense = $10,000

Net income = Sales revenue - Salaries and wages expense - Rent expense

                   = $75,000 - $20,000 - $10,000

                   = $45,000

4 0
3 years ago
Schrute Farm Sales buys portable generators for $ 470 and sells them for $ 720 He pays a sales commission of​ 5% of sales revenu
tigry1 [53]

Answer:

The contribution margin statement is found below with a contribution margin of $149,800 and operating income of $145100

Explanation:

Contribution Margin Statement

Sales  revenue ($720*700)              $504000

Variable costs:

Cost of generators($470*700)         ($329000)

Commission(5%*$504000)              <u> ($25200)</u>

Contribution margin                           $149,800

Fixed costs

Rent                                                     ($3000)

Additional commission                      <u> ($1,700)</u>

Operating income                              $145100

Cost of rent is fixed as it is not depended on the quantity of generators sold.

Additional commission is fixed amount,so it is a fixed cost, while costs of buying generators  as well as the commission of 5% are both variable costs.

5 0
3 years ago
Rudolph overhears Macy's plans to go skydiving over spring break. Not really knowing Macy, but figuring it's worth a chance, Rud
borishaifa [10]

Answer:

False.

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In this scenario Rudolph does not know Macy. Most likely they are not related for him to tender Macy's death certificate in fulfillment of the requirements for payment.

Delays to payouts may also arise if:

The insured party died during the course of illegal activity such as driving under the influence.

The insured party lied on the policy application.

The insured omitted health issues or risky hobbies/activities like skydiving.

5 0
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