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MA_775_DIABLO [31]
3 years ago
13

Barney bought a small retail business a month ago. He plans to advertise it with the help of billboards and flyers to attract cu

stomers. Which type of expense would Barney’s business incur in the form of advertising?
A.
non-operating expense
B.
selling expense
C.
administration expense
D.
logistic expense
E.
production expense
Business
1 answer:
disa [49]3 years ago
6 0

Answer:

The answer is A. non-operating expense

Explanation:

As he operates a retail shop, such advertising is vital to attract customers to the shops and to make potential sales. We can't treat this expenses as administration or production expenses.

We consider this as non operational because advertising is not an operational part of the operations of a retail business. Moreover, we can't consider it as selling expenses because they are mostly incurred during the sales process.

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Answer:

$83,850

Explanation:

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Cost Retail

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Add: net purchases$331,000 $499,000

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Cost-to-retail percentage

= $419,500÷ $638,000 = 65%

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Estimated ending inventory at retail

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Estimated ending inventory at cost(65% x $129,000)$83,850

Therefore the estimated inventory at June 30, 2021, would be $83,850

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Elizabeth and Niko are very organized and do an excellent job organizing their personal financial records. How will this BEST he
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3 0
3 years ago
McCoy's Fish House purchases a tract of land and an existing building for $1,000,000. The company plans to remove the old buildi
satela [25.4K]

Answer:

$1,068,000

Explanation:

The cost of land includes the following costs:

• Purchase price of land

• Attorney fees

• Real estate agent commission

• Title

• Recording fees

• Additional expenses :

o Clearing

o Filling and leveling of land

o Removing of old buildings

To Determine the total cost of the land.

Particulars

Amount ($)

Amount ($)

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1,000,000

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Back property taxes

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Total cost of the land

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3 years ago
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