Answer:
The land should be reported at $130,000
Explanation:
In this question, we have to apply one of the Generally Accepted Accounting Principle (GAAP), i.e. Historical cost principle.
Historical Cost Principle: According to this principle, the value of fixed assets should be recorded at the purchase price or book value.
So, in the given case, the land should be reported at $130,000 irrespective of whatever amount is given in the question
Answer:
small; wage rate
Explanation:
The purely competitive market is a wage taker as there are many number of firms who wants to purchase the labor services in that market also there are many number of workers who have similar skills and wants to sell their labor services
So as per the given situation, the each and every kind of firm wants to employs a small fractions of total supply available so that no firm could influence the wage rtae
Therefore the last option is correct
The company should sell product xy as it is
and should not process it further.
Given:
Original
Incurred cost of $5,000
No. of units is 6,400
Price per unit is $33
Processed product
No. of units is 6,400
Costs for further processing is $8/unit
New price per unit is $39
First, know the total costs
Original: $5,000
Processed: 6,400 x $8 = $51,200
Next, find the sales revenue for the original
and processed product
Original: $33 x 6,400 = $211,200
Processed: $39 x 6,400 = $249,600
Then, get the net profit for the original and
processed product
Original: $211,200 - $5,000 = $206,200
Processed: $249,600 - $51,200 = $198,400
With the data provided, you can find out that
the net profit is higher on the original/unprocessed product compared to the
processed product even if the selling price and revenue is much higher.
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Answer:
c. 10%
Explanation:
Law Imposes additional 10% tax on early distribution of 401 (k) retirement plan. This law is to discourage the use of retirement fund for other purposes than the retirement plan. Evie want early distribution of her funds so she must pay 10% additional tax on these funds. So option c. 10% is correct for 401(k) retirement plan.
