Answer:
$671,300
Explanation:
The calculation of adjusted basis in the building is shown below:-
Adjusted basis = Original cost of the property + Cost of capital improvements - Depreciation claimed
= $750,000 + $50,000 - $128,700
= $800,000 - $128,700
= $671,300
Therefore for computing the adjusted basis we simply add original cost of the property with cost of capital improvements and deduct depreciation claimed.
Answer:
See explanation below as attached.
Explanation:
1. Predetermined overhead is 139% of direct labor hour
2. Under applied overhead is $6,200
Please find attached breakdown and solution to question 1, 2, 3, 4 and 5.
Answer:
Perfection records in it's books an Investment in Associate of $486,000
Explanation:
Hi, your question has missing information, i tried to look for the full question online but I could not find it.
However, I have prepared below explanation to the problem.
When a firm has investments into another firm of less than 50% voting rights in stake but greater than 20% we say that firm has significant influent in the investee. The firm is said to have an Investment in an Associate.
Investments in Associates are always recorded using the Equity Method of Accounting.
<u>Entries for Investment in Associate are :</u>
Debit :Investment in Associate ($1,944,000 × 25%) $486,000
Credit : Share of profits of associate $486,000
Conclusion :
Perfection records in it's books an Investment in Associate of $486,000
Answer:
c. unconstitutional under the First Amendment.
Explanation:
Under the first amendment the act of banning such printed materials is unconstitutional. As it is not good for people in the country to witness such things.
As printed material includes books, magazines, and other things which enhance the knowledge level of different people.
Therefore, banning printed material will make the country people short of knowledgeable resources.
Therefore, the court will announce it unconstitutional.
