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Fittoniya [83]
3 years ago
6

On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $27,000 and giving a short-term note for

$247,000. Legal fees paid were $2,435, delinquent taxes assumed were $15,100, and fees paid to remove an old building from the land were $19,400. Materials salvaged from the demolition of the building were sold for $4,100. A contractor was paid $833,000 to construct a new warehouse.
Required:
1. Determine the cost of the land to be reported on the balance sheet.
Business
1 answer:
crimeas [40]3 years ago
5 0

Answer:

$306,835

Explanation:

Data provided

Legal fees paid = $2,435

Delinquent taxes = $15,100

Fees paid to remove old building = $19,400

Material salvage sold = $4,100

The computation of the cost of the land to be reported on the balance sheet is below:-

Amount paid to acquire adjacent lot = $27,000 + $247,000

= $274,000

Total cost of land = Amount paid to acquire adjacent lot + Legal fees paid + Fees paid to remove old building - Material salvage sold

= $274,000 + $2,435 + $15,100  + $19,400  - $4,100

= $306,835

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Answer:

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b. Single plant-wide factory overhead rate using direct labor hours = Budgeted factory overhead / Budgeted factory hours

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2 years ago
the xyz company is a profit-maximizing firm with a monopoly in the production of pennants. the firm sells its pennants for $10 e
marshall27 [118]

Marginal cost equals marginal revenue. The additional money that results from raising the quantity is known as the marginal revenue.

Therefore, profit is maximised when marginal cost equals marginal revenue, which is the same as saying when marginal profit equals zero. This additional revenue is also referred to as being "at the margin. In general, marginal revenue tends to decline as production rises for any given level of customer demand. There is no economic gain in equilibrium since marginal revenue and costs

Marginal cost

The additional expense brought on by increasing the quantity is known as the marginal cost. The additional expense at the margin.

Marginal revenue

The additional money that results from raising the quantity is known as the marginal revenue. The additional revenue at the margin.

The XYZ Company is a profit-maximizing firm with a monopoly in the production of pennants. The firm sells its pennants for $10 each. We can conclude that the XYZ Company is producing a level of output at which:

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1 year ago
Wells, Inc., has identified an investment project with the following cash flows. Year Cash Flow 1 $ 865 2 1,040 3 1,290 4 1,385
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Answer:

Total FV= $5,080.86

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Giving the following information:

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