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choli [55]
3 years ago
10

g Last year, Adventure Enterprises reported revenues of $24 million while its total expenses were $10 million. Based on this inf

ormation, Adventure reported:
Business
1 answer:
marysya [2.9K]3 years ago
6 0

Answer:

The answer is ' a profit of $14 million

Explanation:

Revenue = $24 million

Total expenses = $10 million

Profit(loss) = Revenue minus total expenses

$24 million - $10 million

Profit = $14 million.

It is a profit because revenue is greater than total expenses. Adventure Enterprises will report a loss if reported total expenses was greater than reported revenue

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Henrietta Morales is a salaried employee earning $76,800 per year. Required: What is Henrietta’s period pay for each of the foll
Mandarinka [93]

Answer:

Explanation:

The computation is shown below:

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6 0
3 years ago
Cotton Hotel Corporation recently purchased Emporia Hotel and the land on which it is located with the plan to tear down the Emp
ExtremeBDS [4]

Answer:

c. capitalized as part of the cost of the land.

Explanation:

These are the options for the question

a. depreciated over the period from acquisition to the date the hotel is scheduled to be torn down.

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c. capitalized as part of the cost of the land.

d. capitalized as part of the cost of the new hotel.

From the question, we are informed about Cotton Hotel Corporation

which recentlyy purchased Emporia Hotel and the land on which it is located with the plan to tear down the Emporia Hotel and build a new luxury hotel on the site. The cost of the Emporia Hotel should be capitalized as part of the cost of the land. In financial accounting, cost of land can be regarded as asset valuation method which can be used to land that shows on the balance sheet of a company. This cost would encompass all amount spent when acquiring the property and other expenses.

,

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