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SCORPION-xisa [38]
3 years ago
7

The Reid Co. acquired a piece of land for a new factory paying $100,000. Reid demolished the old building at a cost of $20,000,

and sold scrapped material salvaged from the old building for $5,000. The architect’s fees were $25,000, and the title insurance upon acquisition of the land was $1,000. The construction period interest was $8,000, and the contractor received $300,000 for the building. A pavement assessment made by the city cost Reid $2,000 at the purchase date.
A) The cost of the land recorded by Reid Co. is
B) The cost of the building recorded by Reid Co. is
Business
2 answers:
Julli [10]3 years ago
3 0

Answer:

A$118,000 B.$333,000

Explanation

Land$100,000

Demolition20,000

Scrap value(5,000)

Title insurance1,000

Paving assessment2,000

Total land cost($118,000)

B. The cost of the building recorde

d by Reid

Archirectfees$25,000

Construction interest8,000

Building cost300,000

Total building cost. $333,000

Y_Kistochka [10]3 years ago
3 0

Answer:

Check the explanation

Explanation:

A.

Land                                        $ 100,000

Demolition                                  20,000

Scrap value                                 (5,000 )

Title insurance                               1,000

Paving assessment                      2,000

Total land cost                         $ 118,000

B.

Architect fees                                 $ 25,000

Construction interest                          8,000

Building cost                                     300,000

Total building cost                         $ 333,000

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Which fiscal policy would be the most contractionary? 
A. A $40 billion increase in taxes
B. A $50 billion increase in governmen
Elena L [17]

Answer: Option (C) is correct.

Explanation:

Correct option: A $50 billion decrease in government spending would be the most contractionary fiscal policy.

A. Increase the taxes by $40 billion is also a contractionary fiscal policy but it doesn't have a greater impact than decreasing  the government spending by $50 billion.

B. It is an expansionary fiscal policy.

D. There are both expansionary fiscal policy by decreasing taxes by $10 billion and contractionary fiscal policy by decreasing government spending by $40 billion. But it doesn't have much impact as the option (C) is having.

Therefore, Option (C) is having the most contractionary fiscal policy.

5 0
3 years ago
Lopez Corporation incurred the following costs while manufacturing its product.
grandymaker [24]

Answer:

$358,150

Explanation:

Cost of goods manufactured is calculated in a Schedule of Manufacturing Costs as follows :

Cost of goods manufactured = Beginning Work In Process + Total Manufacturing Costs - Ending Work In Process

where,

Total Manufacturing Costs :

Materials used in product              $124,260

Depreciation on plant                     $69,650

Property taxes on plant                   $21,750

Labor costs of assembly-line        $120,570

Factory supplies used                     $25,810

Total                                               $362,040

therefore,

Cost of goods manufactured = $13,700 +   $362,040 - $17,590 = $358,150

8 0
3 years ago
If net operating income is $83,000, average operating assets are $415,000, and the minimum required rate of return is 13%, what
tester [92]

Answer:

$29,050

Explanation:

The computation of the residual income is shown below:

Residual income = Net operating income - Minimum required income  

= $83,000 - $53,950  

= $29,050  

Here

Minimum required income   =   Average operating assets × Minimum required rate of return  

= $415,000 × 13%    

= $53,950

This should be the answer and the options provided are wrong

6 0
3 years ago
In a​ ________ banking​ system, commercial banks engage in securities​ underwriting, but separate subsidiaries conduct the diffe
vfiekz [6]

Answer: The correct answer is "universal".

Explanation: In a <u>universal</u> banking​ system, commercial banks engage in securities​ underwriting, but separate subsidiaries conduct the different activities.​ Also, banking and insurance are not typically undertaken together in this system.

It is the most common type of banking system and is the most commonly used.

8 0
3 years ago
Which of the following is TRUE of brokers? a. Brokers bring buyers and sellers together and assist in negotiation. b. Brokers re
yuradex [85]

Answer:

a. Brokers bring buyers and sellers together and assist in negotiation.

Explanation:

Brokers are a kind of agents as, they help the buyers find the sellers, and the sellers to find the buyers.

They help in price negotiations and settling the deals. They are hired for individual deals, and not for a specified period.

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3 0
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