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mixas84 [53]
3 years ago
15

Blossom Company purchases land for $150000 cash. Blossom assumes $5200 in property taxes due on the land. The title and attorney

fees totaled $2000. Blossom has the land graded for $3900. They paid $24000 for paving of a parking lot. What amount does Blossom record as the cost for the land?
Business
1 answer:
IgorLugansk [536]3 years ago
8 0

Answer:

Blossom record $161,100 as cost of land.

Explanation:

Here, we are to calculate amount recorded as the cost of the land purchased by Blossom company.

We proceed mathematically;

From the question;

Calculation of land cost = cash payment + property tax value + Title and attorney fees + Grading cost

Cost of land = 150,000 + 5,200 + 2,000 + 3,900 = $161,100

Blossom record $161,100 as cost of land.

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24. The Milham Corporation has two divisions—North and South. The divisions have the following revenues and expenses: North Sout
Artyom0805 [142]

Answer:

The elimination of the North division would result in an increase to net operating income of $100,000 for the South division.

Explanation:

Please see computation of the company's overall net profit

= South sales - South variable costs - South traceable fixed costs - South allocated common corporate cost - North allocated common corporate cost

= $880,000 - $550,000 - $80,000 - $50,000 - $100,000

= $100,000 profit.

N.B

Since the North division has been eliminated, all the items for North division would all be ignored except its allocated common corporate cost.

8 0
3 years ago
A _____ chart shows individual figures at a specific time, or shows variations between components but not in relation to the who
Yanka [14]

Answer:

Bar chart

Explanation:

A bar chart can as well be regarded case a "bar graph", it can be explained as a chart/graph that gives the representation of categorical data as a

rectangular bars, where the height of the rectangular bars will equal to the data values they are representing. This bars could be horizontally or vertically plotted. It should be noted that bar chart shows individual figures at a specific time, or shows variations between components but not in relation to the whole.

4 0
3 years ago
JACK Mchen
Makovka662 [10]

Answer:

Setting short term goals now helps you reach long term goals later

6 0
3 years ago
Administrators at a university will charge students $175 to attend freshman orientation. It costs $6400 to reserve a room, hire
LUCKY_DIMON [66]

Answer:

the number of students to register for break even is 40 students

Explanation:

The computation of the number of students to register for break even is as follows

Let us assume the break even point be X,

Now as we know that

At break even

Total Expense = Total Revenue

$6,400 + $15 × X = $175 × X

160 × X = $6,400

So,

X = $6,400 ÷ 160

= 40 students

hence, the number of students to register for break even is 40 students

8 0
2 years ago
Bellingham Company produced 2,500 units of product that required 6 standard direct labor hours per unit. The standard variable o
VMariaS [17]

Answer: -$2,350

Explanation:

First we will calculate the labour costs of the product as,

Standard labour overheads required,

= 2,500*6

= $15,000

Using the above figure we will then calculate the Standard Overhead Cost as,

Standard overhead cost

= 4.9* 15,000 hours

= $73,500

But the Actual overhead cost = $71,150

The Variance is calculated as,

= standard overhead cost - actual overhead cost

= 73,500 - 71,150

= $2,350 Favorable.

= -$2,350

If you need any clarification do react or comment.

3 0
3 years ago
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