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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:

$65,000

Explanation:

Calculation to determine what The estimated inventory loss due to Hurricane Fred would be

Beginning inventory$170,000

Add Net purchases195,000

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Less: Cost of goods sold (300,000)

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Answer:

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Suppose that a delivery company currently uses one employee per vehicle to deliver packages. Each driver delivers 60 packages pe
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Answer:

a. What is the MRP per driver per day?

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b. Now suppose that a union forces the company to place a supervisor in each vehicle at a cost of $300 per supervisor per day. The presence of the supervisor causes the number of packages delivered per vehicle per day to rise to 60  packages per day What is the MRP per supervisor per day? By how much per vehicle per day do firm profits fall after supervisors are introduced?

  • if the drivers were already delivering 60 packages per day without the supervisor, then the addition of the supervisor doesn't change anything. So the MRP of the supervisor is $0. That means that the company's profits will decrease by $300 per day due to the supervisors.

c. How many packages per day would each vehicle have to deliver in order to maintain the firm's profit per vehicle after supervisors are introduced?

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3 years ago
The management accountant at Technology Innovators determined $500,000 is the organization's earning goal to accommodate the org
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Question:

Which of the following management responsibilities is the managerial accountant using in this example?

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3 years ago
Assume (1) a predetermined overhead rate of $8.00 per machine-hour, (2) actual machine-hours worked during the period of 54,000
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Answer:

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Explanation:

Giving the following information:

Predetermined overhead rate of $8.00 per machine-hour

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