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vivado [14]
3 years ago
15

Marshall's & Co. purchased a corner lot in Eglon City five years ago at a cost of $640,000. The lot was recently appraised a

t $670,000. At the time of the purchase, the company spent $30,000 to grade the lot and another $3,200 to build a small building on the lot to house a parking lot attendant who has overseen the use of the lot for daily commuter parking. The company now wants to build a new retail store on the site. The building cost is estimated at $1,110,000. What amount should be used as the initial cash flow for this building project?'
Business
1 answer:
Gala2k [10]3 years ago
3 0

Answer:

$1,780,000

Explanation:

The computation of the initial cash flow for this building project is shown below:

= Estimated building cost + appraised cost of the lot

= $1,110,000 + $670,000

= $1,780,000

Simply we added the estimated building cost and the appraised cost of the lot so that the initial cash flow amount can come.

All other information which is given is not relevant. Hence, ignored it

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Lyons Company deducts insurance expense of $210,000 for tax purposes in 2018, but the expense is not yet recognized for accounti
djyliett [7]

Answer:

The total income tax expense for 2019 =152.000. Is not available in the options given by the exercise.

Explanation:

  • Tax on insurance expense deductible for accounting purposes in 2019= 70000*40%=28.000

  • Income tax expense for 2019 = 180.000-28.000=152.000

4 0
3 years ago
A company's beginning Work in Process inventory consisted of 20,000 units that were 80% complete with respect to direct labor. A
zloy xaker [14]

Answer:

Total number of equivalent units= 100,000

Explanation:

Giving the following information:

A total of 90,000 were finished during the period and 25,000 remaining in Work in Process inventory were 40% complete with respect to direct labor at the end of the period.

Weighted-average method:

Units completed= 90,000

Ending inventory= 25,000*0.4= 10,000

Total number of equivalent units= 100,000

3 0
3 years ago
Working as an elevator operator used to be a common job in the workforce four decades ago, but today few jobs remain. The unempl
Thepotemich [5.8K]
<h3>The unemployment created by introduction of automatic elevators would be considered as structural </h3>

Explanation:

Structural unemployment is a longer-lasting type of unemployment that is induced by structural economic changes and aggravated by external influences like technology, rivalry, and government policy.

Structural unemployment will last for decades and typically needs to reverse a dramatic shift. Technology continues to intensify systemic unemployment, marginalize certain workers and make certain occupations redundant, such as manufacturing. Structural unemployment can be long-term and difficult to address as it needs either displacement or retraining.

3 0
3 years ago
The results for conventional and activity-based costing (ABC) computations will be the same as long as: a.the levels of activity
aniked [119]

Answer:

d.the levels of activity for non-unit based cost drivers remain the same.

Explanation:

In the case of conventional and activity based costing calculations,  the output should be similar to the activity levels that belong to the non-unit in which the cost driver should remain the same

Thus as per the given scenario, the option d is correct

And, the rest of the options seems incorrect

4 0
3 years ago
On April​ 1, 2017, Planet Services received​ $8,000 in advance of performing the services from a customer for three months of se
mestny [16]

Answer:

The correct answer is B

Explanation:

The journal entry which is to be recorded for the service revenue at the end of May is as follows:

Unearned Revenue A/c..............Dr    $5,333​

             Service RevenueA/c...........Cr    $5,333.

Working Note:

Revenue = Total amount × Number of months / Total months

where

Amount is $8,000

Number of months means at the end of May which is a 2nd month

Total months is 3 months (April, May and June)

= $8,000 × 2 / 3

= $5,333

6 0
3 years ago
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