Answer:
A
Explanation:
In this question, we are asked at what value should the land be recorded in White Repair services records.
Technically, the value of land is to be recorded as purchase price plus improvements.
Generally, what we mean by improvements include such fees such as attorney fees. Looking at the question, we cannot find any of the entries that speaks about payment yo an attorney or any general land issue. This means that we only record the value of the land as purchase price only.
Looking at the question, the purchase price is the accepted seller’s counter offer. This value is $115,000. Hence, it is the value at which the land would be recorded in White repair service records
<span>This question is actually false. The type of contract described is actually a Sale or Return. When negotiating a Sale or Return, it is useful to define a period in which the goods will be returned if they are not satisfactory. It is also useful to have a requirement that the goods be returned unaltered and undamaged.</span>
Answer:
C) Overapplied overhead
Explanation:
The ending balance of $8,000 represents the overhead overapplied as the credit side is more than the debit side related to production i.e as the credit side is $167,000 and the debit side is $159,000 so the credit side is greater than the $8,000
Therefore the correct option is c.
Hence, the other options are wrong
