Answer:
The amount Laramie should record the purchase of land is <u>$6.2 million</u>.
Explanation:
The costs of a fixed asset refer to the purchase price and other relevant costs which are incurred in order to the location and working condition required to operate the fixed asset in way that it is intended.
The other relevant costs that are added to the purchase price to arrive at the cost of the fixed assets include professional fees, non-refundable taxes or levies, and among others.
If any trade discount or rebate is given, this will be deducted from the purchase price to arrive at the cost.
Any interest required to be paid on the delayed payment in order to reflects the time value of money are not part of the cost of the asset but expensed in the year they are incurred.
From the question, the land acquired is a fixed asset. Based on the explanation above, the total cost of the asset is $6.2 million. The interest from the 6% interest rate on the remaining $5 million will be part of the cost of the land but it will be expensed in the year they are incurred.
Therefore, the amount Laramie should record the purchase of land is <u>$6.2 million</u>.
Answer:
=$ 80, 200.00
Explanation:
selling price : $ 330,000.00
Commission 6 %:
Commissions paid = 6/100 x $ 330,000.00
=$19,800.00
Closing costs =: $ 5000.00
Mortgage paid : $ 225,000
Total payouts: $19,800 + $50,00+ $225,000
=$ 249, 800.00
Rusty Expects: $ 330,000.00- $ 249,800.00
=$ 80, 200.00
Answer: 1.621
Explanation:
The old charge per student was $678 per month
The new charge is $1,099.
The percent of the new charge compared to the old according to the question methodology is:
= New charge per student / old charge per student
= 1,099/678
= 1.621
E
I hope this helps and have a wonderful day filled with joy!!
<3
Answer:
0.7835 or 78.35%
Explanation:
Budgeted Sales = $90 per unit x 4620 units = $415,800
Break-Even Sales (Revenue) = 1000 units x $90 per unit = $90,000 units
Margin of safety = (Budgeted Sales - Break-Even Sales) ÷ Budgeted Sales
Margin of Safety = ($415,800 - $90,000) ÷ $415,800 = 0.7835 or 78.35%
