Answer:
Cost of land = $1,005,000
Cost of building = $4,275,000
Explanation:
The calculation of cost of the land and new building is shown below:-
Cost of land = Purchase cost + Demolition of old building + Legal fees for title investigation and purchase contract - Salvaged materials
= $960,000 + $ 60,000 + 15,000 - $30,000
= $1,005,000
Cost of building = Architects Fees + Construction costs
= $105,000 + $4,170,000
= $4,275,000
After accounting for bad debt expense, the remaining amount in the allowance for doubtful accounts is $7,950.
<h3>
What is bad debt?</h3>
Bad debt, sometimes referred to as uncollectible accounts expense, is a sum of money owed to a creditor that is unlikely to be paid and for which the creditor is not willing to take action to collect for a variety of reasons, frequently due to the debtor not having the money to pay, for example due to a company going into liquidation or insolvency. Depending on accounting practices, regulatory considerations, and the institution provisioning, there are many technical definitions of what a bad debt is. Bank loans in the USA are referred to as "problem loans" if they are more than 90 days overdue. Accounting sources recommend deducting the entire amount of a bad debt from profit and loss or from a provision for bad debts as soon as it is anticipated.
To learn more about bad debt, visit:
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Answer:
Freight-absorption
Explanation:
Based on the information provided within the question it can be said that the Texas Granite Company in Dallas should use Freight-absorption pricing in this situation. This is a pricing strategy in which the seller takes responsibility for all the freight charges that the company incurs in order to attract the amount of business that they hope to achieve. Since company's that are looking to buy see 0 freight charges it becomes a deal since they are saving money as opposed to buying from another company that charges the freight charges to the buyer.
Answer:
$575
Explanation:
Given that,
Opening office supplies = $1,100
Closing office supplies = $475
Office supplies expense for the month = $1,200
Opening stock + Purchases - Closing stock = Consumption
$1,100 + Purchases - $475 = $1,200
$625 + Purchases = $1,200
Purchases = $1,200 - $625
= $575
Therefore, the amount of office supplies was purchased during February is $575.
Answer:
2. Stereotyping
Explanation:
Stereotyping is a prejudiced view of a person based on a mistaken belief or idea of many people.
George had a belief that women have difficulty coping in stressful situations and making executive decisions. When Sally is promoted to a senior management position his stereotype of women comes to play as George starts to complain that Sally would not be able to cope with the job.
