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Delvig [45]
3 years ago
12

Laramie Corporation has acquired a property that included both land and a building for $ 570 comma 000. The corporation hired an

appraiser who has determined that the market value of the land is $ 370 comma 000 and that of the building is $ 400 comma 000. At what amount should the corporation record the cost of the​ building? (Round any intermediate calculations to two decimal​ places, and your final answer to the nearest​ dollar.)
Business
1 answer:
Eddi Din [679]3 years ago
4 0

Answer:

$296,115

Explanation:

Total market value of land and building:

= Market value of land + Market value of building

= $370,000 + $400,000

= $770,000

Percentage of land in total market value:

= Market value of Building ÷ Total market value of land and building

= $400,000 ÷ $770,000

= 51.95%

Value of building:

= $570,000 × 51.95%

= $296,115

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Although Gloria was aggressively recruited by PaperKlip Office Supplies, the treatment of her now that she is in the company has
mafiozo [28]

Answer: programming stage

Explanation: Programming stage in a recruitment process involves the organization implementing specific human resources activities, such as recruitment, training, and pay systems. However, in the scenario above, This treatment is taking place at the programming stage of the human resources planning process. She has not been recognized or rewarded for her work.

6 0
3 years ago
An emphasis is placed on proper income statement item recognition under what approach under US GAAP?
Over [174]

Answer:

Revenue /expense approach

Explanation:

As we know that the income statement recognized only the revenues and the expenses and if the revenue is more than the expenses so the company is earning profit else it would suffered loss

So for proper income statement, the item recognized under US GAAP should be placed in revenue and expense approach as it comes under the income statement and the same is to be considered

3 0
3 years ago
An oral auction has bidders willing to pay $4, $6, $9, $12, $13, and $15 for an item. The winning bidder will pay a little more
Fiesta28 [93]

Answer: $13.25

Explanation:

From the question, we are informed that an oral auction has bidders willing to pay $4, $6, $9, $12, $13, and $15 for an item.

Based on the above scenario, the winning bidder will pay a little more than $13 or $13.25. This is because the bidder with the highest pay is willing to pay $15 but since the next person is willing to pay $13, that means the next bidder will price it at an amount that is a little bit above $13 which is $13.25.

5 0
3 years ago
For a particular good, a 12 percent increase in price causes a 3 percent decrease in quantity demanded. Which of the following s
Charra [1.4K]

Answer:

b.The good is a necessity

Explanation:

The price elasticity of demand = percentage change in quantity demanded/ percentage change in price

3% / 12% = 0.25

When the coefficient of elasticity is less than one, demand is inelastic.

Inelastic demand means that when price increases, there is little or no change in quantity demanded.

Necessity goods are goods that are very important to consumers and thus they tend to have an inelastic demand. For example, medications.

Substitute goods are goods that can be used in place of another good because of their similarity. E.g. butter and margarine

Goods with many substitutes have an elastic demand. If price of a good increases, consumers can easily shift consumption to substitute goods.

Narrowly defined goods have an elastic demand because it is easier to find subsituites for such goods.

Demand is more elastic in the long run because consumers have more time to search for substitutes.

I hope my answer helps you

3 0
3 years ago
Voiles Company reissued 200 shares of its treasury stock. The treasury stock originally cost $25 per share and was reissued for
Naddika [18.5K]

Answer:

The correct option is A,A. 7,000 = NA + 2,000 - (5,000) NA - NA = NA 7.000 FA

Explanation:

By issuing the treasury stock ,asset,cash to be precise increases by $7000($35*200) which implies a debit to the asset ,hence the $7000 seen on the left hand-side of the equation.

This transaction has no liability impact,as a result liabilities is denoted NA,not applicable.

The par value of the treasury is to be credited to treasury stock with $5,000($25*200).

Lastly the difference between the par value and the issue is credited to paid-in capital from treasury stock i.e($35-$25)*200))=$2000,this is depicted by $2000 in the equation

5 0
3 years ago
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