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Rasek [7]
3 years ago
8

Sunland company installs a new parking lot. The paving cost $30,000 and the lights to illuminate the new parking area cost $12,0

00. Which of the following statements is true with respect to these additions?
A. $30,000 should be debited to the Land account.
B. $12,000 should be debited to Land Improvements
C. $42,000 should be debited to the Land account.
D. $42,000 should be debited to Land Improvements
Business
1 answer:
padilas [110]3 years ago
4 0

Answer:

D. $42,000 should be debited to Land Improvements

Explanation:

The cost of the land housing the parking is recorded in the land account. Other costs such as paving cost and lights are improvements and as such are added and recorded in the Land Improvements accounts.

Total Land improvements = $30,000 + $12,000

= $42,000

The right answer is D. $42,000 should be debited to Land Improvements.

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How many credits toward a college degree can a student get through the AICE program? 5 10 30 50
Rus_ich [418]
"30" is the answer you're looking for.
8 0
3 years ago
A university officer wants to know the proportion of registered students that spend more than 20 minutes to get to school. He se
vlada-n [284]

Answer:

1) We need a random sample. For this case we assume that the sample selected was obtained using the simple random sampling method.

2) We need to satisfy the following inequalities:

n\hat p =25*0.52= 13 \geq 10

n(1-\hat p) = 25*(1-0.52) =12 \geq 10

So then we satisfy this condition

3) 10% condition. For this case we assume that the random sample selected n represent less than 10% of the population size N . And for this case we can assume this condition.

So then since all the conditions are satisfied we can conclude that we can apply the normal approximation given by:

p \sim N (\hat p, \sqrt{\frac{\hat p (1-\hat p)}{n}})

So then the answer for this case would be:

a. Yes.

Explanation:

For this case we assume that the question is: If in the experiment described we can use the normal approximation for the proportion of interest.

For this case we have a sample of n =25

And we are interested in the proportion of registered students that spend more than 20 minutes to get to school.

X = 13 represent the number of students in the sample selected that have a time more than 20 min.

And then the estimated proportion of interest would be:

\hat p = \frac{X}{n}= \frac{13}{25}= 0.52

And we want to check if we can use the normal approximation given by:

p \sim N (\hat p, \sqrt{\frac{\hat p (1-\hat p)}{n}})

So in order to do this approximation we need to satisfy some conditions listed below:

1) We need a random sample. For this case we assume that the sample selected was obtained using the simple random sampling method.

2) We need to satisfy the following inequalities:

n\hat p =25*0.52= 13 \geq 10

n(1-\hat p) = 25*(1-0.52) =12 \geq 10

So then we satisfy this condition:

3) 10% condition. For this case we assume that the random sample selected n represent less than 10% of the population size N . And for this case we can assume this condition.

So then since all the conditions are satisfied we can conclude that we can apply the normal approximation given by:

p \sim N (\hat p, \sqrt{\frac{\hat p (1-\hat p)}{n}})

So then the answer for this case would be:

a. Yes.

3 0
2 years ago
The fixed cost of Brendon Willows, a baseball bat manufacturing company, is $500,000 per year. The cost of wood and labor to man
Inessa [10]

Answer:

option (B) 25,000

Explanation:

Data provided in the question:

Fixed cost = $500,000 per year

Cost of wood and labor to manufacture one bat = $5

Selling price of the bat = $25

Now,

At breakeven, total cost equals to the total revenue

let the breakeven quantity be 'x'

thus,

$500,000 + $5x = $25x

or

$25x - $5x = $500,000

or

$20x = $500,000

or

x = 25,000

Hence,

the correct answer is option (B) 25,000

7 0
3 years ago
preparing adjusting and closing entries across two periods norton company closes its accounts on december 31 each year. the comp
Rama09 [41]

Answer:

Requirement: <em>Prepare journal entries to: (a) Accrue the salaries payable on December 31, b) Close the Salaries Expense account on December 31 (the account has a year-end balance of $250,000 after adjustments), (c) Record the salary payment on January 7</em>

Date     Accounts title and Explanation      Debit          Credit

31-Dec  Salaries expense                             $1,880

                   Salaries Payable                                             $1,880

             (To record accrued salaries )  

31-Dec   Retained Earnings                          $250,000  

                     Salaries Expense                                          $250000

              (To close salaries expense account)

07-Jan   Salaries Payable                             $1,880

              Salaries expense                            $2,920

                     Cash                                                                $4,800

              (To record payment of salary)

3 0
2 years ago
Country Farm Supply applies for a business loan from Farmers Credit Co-Op. Country Farm Supply owes McGregor money under another
Aliun [14]

Answer: must be in writing because it benefits McGregor.

Explanation:

From the question, we are told that Country Farm Supply applies for a business loan from Farmers Credit Co-Op. We are also aware that Country Farm Supply owes McGregor money under another business deal, and that McGregor wants to help Country Farm Supply get the loan so that it will be able to stay in business to pay him back, McGregor promises Farmer's Credit Co-Op that he will repay the loan if Country Farm Supply does not.

Therefore to be enforceable, McGregor's promise must be in writing because it benefits him. The the deal is between Farmer's Credit Co-Op and McGregor, hence, the promise must be in writing because this will make it valid and also applicable for future purpose in case McGregor isn't able to repay the loan he took .

4 0
3 years ago
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