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Kamila [148]
3 years ago
5

On January 1, 2021, Laramie Inc. acquired land for $9.6 million. Laramie paid $2.9 in cash and signed a 6% note requiring the co

mpany to pay the remaining $6.7 million plus interest on December 31, 2022. An interest rate of 6% properly reflects the time value of money for this type of loan agreement. For what amount should Laramie record the purchase of land?
Business
1 answer:
Alexxandr [17]3 years ago
6 0

Answer:

$9.6 million

Explanation:

The amount Laramie would record in its books of account in respect of the land acquisition cost is the sum of the cash paid now and the notes payable .

That effectively gives acquisition cost of $9.6 million ($2.9 million+$6.7 million).

The interest payable on the notes payable of $6.7 million would be treated as expense in the income statement of years 2021 and 2022 respectively without being added to the acquisition cost since it is a revenue expense and should not be capitalized.

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Define the term corporate social responsibility and give one practical example ​
Vesna [10]

Answer:

<u>Definition:</u> Corporate social responsibility (CSR) is a self-regulating business model that helps a company be socially accountable—to itself, its stakeholders, and the public. By practicing corporate social responsibility, also called corporate citizenship, companies can be conscious of the kind of impact they are having on all aspects of society, including economic, social, and environmental.

To engage in CSR means that, in the ordinary course of business, a company is operating in ways that enhance society and the environment, instead of contributing negatively to them.

<u>Example:</u> Starbucks has long been known for its keen sense of corporate social responsibility and commitment to sustainability and community welfare. According to the company, Starbucks has achieved many of its CSR milestones since it opened its doors. According to its 2019 Global Social Impact Report, these milestones include reaching 99% of ethically sourced coffee, creating a global network of farmers, pioneering green building throughout its stores, contributing millions of hours of community service, and creating a groundbreaking college program for its partner/employees.

Starbucks' goals for 2020 and beyond include hiring 10,000 refugees, reducing the environmental impact of its cups, and engaging its employees in environmental leadership.  Today there are many socially responsible companies whose brands are known for their CSR programs, such as Ben & Jerry's ice cream and Everlane, a clothing retailer.

Explanation:

4 0
2 years ago
The purpose of stock valuation isGroup of answer choicesof limited value, since the efficient market hypothesis proves that all
ki77a [65]
To determine whether the value of the common stock is fairly represented by its market price.
8 0
3 years ago
Kirsten is experiencing a great deal of anxiety about her first Algebra II test. "I know that Mr. Dade has a reputation for bein
topjm [15]

Answer:

Stereotype threat

Explanation:

Stereotype refers to preconceived perspective about a particular people or group. Stereotype threat, coined by Claude Steele and Joshua Aronson, refers to a way a person behaves that tend to confirms the negative stereotype about a particular race, gender and others. In Kristen's case the added stress generated by her anxiety about the Algebra II test  as a result of the supposedly tough teacher coupled with the preconceived notion that girls are not good in math may lead to her actually failing the test or performing badly. If this feeling were to be removed she may not actually fail or perform poorly in the exam.

6 0
3 years ago
Gwinnett Barbecue Sauce Corporation manufactures a specialty barbecue sauce. Gwinnett has the capacity to manufacture and sell 1
Gennadij [26K]

Answer:

b. decrease by $1,000

Explanation:

There is an option below the question ask for details

For computing the profit or loss, first we have to determine the variable cost per unit which is shown below:

= Total variable cost ÷ Number of cases sold

= $144,000 ÷ 9,000 cases

= $16 per cases

The total variable cost would be

= $126,000 + $18,000

= $144,000

And, profit per case is $15

So, the loss per case would be

= $15 per case - $16 per case

= -$1 per case

So, the total loss would be

= 1,000 cases × $1

= $1,000 decrease

7 0
3 years ago
Shamrock Company had net income of $34,000. The weighted-average common shares outstanding were 8,500. The company declared a $3
Leni [432]

Answer:

d) $4.00.

Explanation:

Net Income = $34,000

Common shares outstanding = 8,500 shares

Earning Per share = Net Income for the period / Common shares outstanding

Earning Per share = $34,000 / 8,500 shares

Earning Per share = $4 per share

The company's earnings per share is $4.

Divided declared has nothing to do in the calculation of Earning per share because we just measure the earning against each share which involves net income and number of outstanding shares only.

3 0
3 years ago
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