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alexdok [17]
3 years ago
6

Pharoah Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $390,600. The estimated fair

values of the assets are land $74,400, building $272,800, and equipment $99,200. At what amounts should each of the three assets be recorded?
Business
1 answer:
BabaBlast [244]3 years ago
3 0

Answer:

Land = 65100.001

Building = 238699.999

Equipment = 86799.99

Explanation:

Total Asset Fair Value = Land + Building + Equipment

Total Asset Fair Value = $74,400+$272,800+$99,200

Total Asset Fair Value = $446400

Recorder Amount

Land = $74,400/$446400 * $390,600

Land = 65100.001

Building = $272,800/$446400 * $390,600

Building = 238699.999

Equipment = $99,200/$446400 * $390,600

Equipment = 86799.99

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If psychologists find that rich people are less satisfied with their jobs compared to poor people, this would mean that wealth a
dybincka [34]

Answer:

negatively correlated

Explanation:

Variables are negatively correlated if an increase in one variable causes a decrease in the other variable. Negative correlation usually has a value of -1.

The psychologists found that rich people are less satisfied with their jobs compared to poor people, so as one's wealth increases, job satisfaction decreases. This shows that wealth and job sanctification are negatively correlated.

Variables are positively correlated if an increase in one variable causes a increase in the other variable. Negative correlation usually has a value of +1.

If wealth and job satisfaction were positively correlated, rich people would have more job satisfaction when compared to poor people

8 0
3 years ago
27) Cooley Landscaping Company needs to borrow $30,000 for a new front-end dirt loader. The bank is willing to loan the funds at
viva [34]

Answer:

The annual payment at the end of each year: $4,572.23

Explanation:

The formular for calculating Present value of Annuity is applied in this case to help us find the equal annual payment.

Applying information in the question, we have the annuity that have:

n= 10 as there are 10 equal annual payments paid at the end of each year during 10 years;

i = 8.5% per annum compounded annually, as stated in the question;

PV = Borrowed amount = $30,000;

C = the equal annual payment.

The formular for PV of Annuity: PV = (C/i) x [ 1- (1+i)^(-n)] <=> C = (PV x i) / [ 1- (1+i)^(-n)]

Thus, C = (30,000 x 8.5%) / [ 1- 1.085^(-10) ] = $4,572.23

7 0
3 years ago
Park Company reports interest expense of $340,000 and income before interest expense and income taxes of $6,120,000.(1) Compute
algol13

Answer: 1. 18 times

2. Park is in better position

Explanation:

1. Times interest earned is a financial ratio that measures interest coverage. It's essentially to check if a company can pay it's debt payments and is calculated by either EBIT or EBITDA divided by the total interest expense. The higher the better and anything above 2.5 times is usually considered.

Calculating would therefore be,

= $6,120,000 /$340,000

= 18 times.

2. As mentioned in the first answer, for the Times interest earned, the higher it is, the more favourable it is. So Park Company will be considered safer and are most definitely in a better or worse position than its competitor to make interest payments if the economy turns bad. The fact that theirs is 18 means that they can pay off their interest expense 5 times more than their competitor who can only repay 12 times.

If you need any clarification do comment.

7 0
3 years ago
The following information is taken from Reagan Company's December 31 balance sheet:
zimovet [89]

Answer:

Firm’s sales uncollected for year is 42 days.

Explanation:

Account receivable turnover ratio = $621,000 / $70,422

Account receivable turnover ratio = 8.69

Thus, accounts receivable turnover ratio is 8.69

Average collection period = 365 / Account receivable turnover ratio

Average collection period = 365 days / 8.69

Average collection period = 42.00

Thus, firm’s sales uncollected for year is 42 days.

8 0
3 years ago
Dr. wahls explains at great length the importance of diet to mitochondrial function, but if you had to simplify her message to f
Alla [95]

If the whole lecture about mitochondria was placed in a single tweet, it would be this one:

 

<span>“The mitochondria is the power house of the cell” A powerhouse that we all should be mindful about and to take care of our own.</span>

5 0
3 years ago
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