Answer:
$570,000
Explanation:
At the time of recording of the fixed assets, the fixed assets should be reported at purchase cost or historical price or originally cost or acquiring cost, whether all other values are given i.e appraisal value, the seller purchased value, similar warehouse book value, etc
So, in the given case, it would be recorded at $570,000 as the buyer purchase the building at this cost only.
Answer:
1. The major issue in the process is the lack of communication between different parties. The process being manually driven, might affect the customer satisfaction and lead to lost sales. The changes which need to be made is to make available the price information of different items at once, when the customer comes in to place an order. This can be made possible by asking the suppliers to send the updated sheet every morning before the day's business begins. It will be better if the entire uncatalogued as well as the price sheet is in electronic form, which can be updated immediately, as soon as the information is received from supplier in the morning. One better alternative is to connect the suppliers through an ERP so that their price might reflect at the company's end as soon as it is updated, It will reduce much hassle and mistakes that might creep in due to manual process.
2. a. The number of customers leaving per day / week to competitors due to inefficiency.
b. Total average delay in customer's order.
c. Customer satisfaction rating of the process as this will give the overall picture of customer's opinion about the company.
3. The information system might enable the suppliers to update their information each day which can then be used by the company reps to find out the right price of an item and enable him /her to provide the estimate immediately, leading to greater customer satisfaction, reducing the lost sales and eliminating the chances of a wrong quote being given.
The price of elasticity of the product maybe considered inelastic since there is little to no responsiveness to the change in price of the product. A factor or reason can be that it is a necessity so persons still have to buy the product no matter the change in price.
Answer:
b. $4,908,000
Explanation:
According to the FASB GAAP, the straight line method is used in this given question which is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($40,900,000 - $4,090,000) ÷ (15 years)
= ($36,810,000) ÷ (15 years)
= $2,454,000
In this method, the depreciation is same for all the remaining useful life
For two years, the accumulated depreciation would be
= Annual year depreciation × number of years
= $2,454,000 × 2 years
= $4,908,000
Answer:
C. Public folders
Explanation:
A public folder is a folder that is a way that information and files can be shared quickly and easily with multiple users and groups.
In using public folder, the user simply has to move or copy a file into a public folder to make it accessible.
It is designed for shared access and to provide an easy and effective way of sharing information with other people especially in a workgroup.
