a. depreciated over the period from acquisition to the date the hotel is scheduled to be torn down.
b. written off as a loss in the year the hotel is torn down.
c. capitalized as part of the cost of the land.
d. capitalized as part of the cost of the new hotel.
capitalized as part of the cost of the land.
Answer: Option C.
<u>Explanation:</u>
Since the land of the hotel is going to be the same on which the new hotel is going to be built, the cost of the hotel would be capitalized as the cost of the land of the new hotel that is to be built on the same land on which the hotel middleburg was built.
It was written in the books as the capitalized cost of the land because the land of both the hotels are going to be the same.
Answer:
Year end adjusting entry:
Debit Credit
Salaries expense $1,000
(10*100)
Salaries payable $1,000
January 4, journal entry:
Debit Credit
Salaries expense $3,000
(10*100*3)
Salaries payable $1,000
Cash $4,000
(10*100*4)
Explanation:
The year end adjusting entry that shall be recorded by the Pablo management in its accounts on December 31 in respect of salaries expenses is given as follows:
Debit Credit
Salaries expense $1,000
(10*100)
Salaries payable $1,000
The journal entry that shall be recorded by the Pablo management in its accounts on January 4 in respect of salaries paid to employees is given as follows:
Debit Credit
Salaries expense $3,000
(10*100*3)
Salaries payable $1,000
Cash $4,000
(10*100*4)
Answer:
Items a) and b)
a) items used currently in the production of goods to be sold items
b) held for resale items currently in production for future
Explanation:
Inventory consists of current assets to be used in production of final goods or are the ones which are final goods and held for sale.
In the given case also, statement a includes raw materials, which are used to make the final good to be sold, which is a part of inventory.
Further, statement b includes work in production or final goods which are currently in production but would be resold.
The items which are kept for their use as like machinery or furniture or which shall be disposed are not inventory but are in fixed assets category.
The four primary functions of managers are planning, organizing, leading, and controlling. By using the four functions, managers work to increase the efficiency and effectiveness of their employees, processes, projects, and organizations as a whole.
Answer:
Productivity.
Explanation:
Productivity is commonly defined as a ratio between the output volume and the volume of inputs. In other words, it measures how efficiently production inputs, such as labour and capital, are being used in an economy to produce a given level of output.
