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ElenaW [278]
3 years ago
7

Emily purchased a building to store inventory for her business. The purchase price was $895,000. Emily also paid legal fees of $

450 to acquire the building. In March, Emily incurred $2,000 to repair minor leaks in the roof (from storm damage earlier in the month) and $5,300 to make the interior suitable for her finished goods. What is Emily’s cost basis in the new building?
Business
1 answer:
Ugo [173]3 years ago
3 0

Answer:

Emily’s cost basis in the new building is $900,750.

Explanation:

Cost basis in the new building

= Purchase price of building + legal fees + Cost of interior design

= $895,000 + $450 + $5,300

= $900,750

Therefore, Emily’s cost basis in the new building is $900,750.

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Department M had 2,000 units 40% completed in process at the beginning of June, 12,000 units completed during June, and 1,200 un
goldfiish [28.3K]

Answer:

11,500 was the number of Equivalent Units of Production (EUP)

Explanation:

EUP (FIFO) = Completed Units + Units at the end of the period - Units at the beginning of the period

EUP (FIFO): 12,000 + 1,200 x 25% - 2,000 x 40% = 11,500

Remember:

In the FIFO method to calculate EUP is considered the sum of work done on beginning inventory and percentage of work done on ending inventory adding to the started and completed units during the period.

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3 years ago
Oriole, Inc., stock has a beta of 1.60. If the expected market return is 17.5 percent and the risk-free rate is 7.0 percent, wha
Katen [24]

Answer:

23.8

Explanation:

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The expected market return is 17.5

The risk free rate is 7.0

Therefore the expected return for oriole stock can be calculated as follows

= 7 + 1.60(17.5-7)

= 7+ 1.60(10.5)

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7 0
3 years ago
Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2015, the company's board of di
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Answer:

December 31, 2015

DR Retained Earnings $40,000  

       CR Common Stock Dividend Distributable   $40,000

<em>(To record declaration of stock dividend)</em>

 

Working

Common Stock Dividend Distributable

= No. of shares * Par value * % stock dividend

= 100,000 * 2 * 20%

= $40,000

6 0
3 years ago
What causes a bank run? Too many people try to withdraw their deposits at the same time. Banks refuse to loan out deposited fund
Elis [28]
Too many people try to withdraw their deposits at the same time 
D its your answer


3 0
3 years ago
Read 2 more answers
To record a sales transaction, use:
sergiy2304 [10]

To record a sales transaction, use create invoices- receive payment- make deposits.

<h3>What is sales transaction?</h3>

Sales Transaction means transactions consummated between a company and subscriber of its capital stock. It is the transfer of a company's asset to another after sales have been completed.

Hence, to record a sales transaction, use create invoices- receive payment- make deposits.

Learn more about sales transaction here : brainly.com/question/25347238

#SPJ11

5 0
2 years ago
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