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Ne4ueva [31]
3 years ago
12

Sunland Company collected $22400 in May of 2016 for 4 months of service which would take place from October of 2016 through Febr

uary of 2017. The revenue reported from this transaction during 2016 would bea. $0
b. $4,200
c. $5,600
d. $1,400
Business
1 answer:
kati45 [8]3 years ago
6 0

Answer:

There is something wrong with this question because October to February is not four months, it's five months.

We can calculate this assuming 3 months of 2016 (October, November, December) and 2 months of 2016 (November and December).

  • 3 months of 2016 = ($22,400 / 4 months) x 3 months = $16,800
  • 2 months of 2016 = ($22,400 / 4 months) x 2 months = $11,200

No option is correct.

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Whoever reads the chapter of the book the fastest is crowned the chapter king. It can be very competitive, and the competitors have to be very good readers.

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Ellen has entered all of her monthly expenses. She needs to create a formula that will deduct her monthly expenses from her mont
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Answer:

Absolute reference

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3 years ago
Rodriguez Company pays $363,285 for real estate with land, land improvements, and a building. Land is appraised at $198,000; lan
Irina18 [472]

Answer:

1.Land $163,478

Land Improvement $54,493

Building $145,314

2.Dr Land $163,478

Dr r Land Improvement $54,493

Dr Building $145,314

Cr Cash $363,285

Explanation:

1. Calculation to Allocate the total cost among the three assets

First step is to Add up all expenditure costs Total Expenditure costs =$198,000+$66,000+$176,000

Total Expenditure costs =$440,000

Second step is to divide each expenditure up by the total amount

Land=($198,000/$440,000= 0.45)

Land improvement=($66,000/$440,000= 0.15)

Building=($176,000/$440,000= 0.40)

Now let Allocate the total cost among the three assets

Land=0.45* $363,285

Land = $163,478

Land improvement=0.15*$363,285

Land Improvement=$54,493

Building=0.40*$363,285

Building=$145,314

Total $363,285

($163,478+$54,493+$145,314)

Therefore the total allocation cost among the three assets is:

Land $163,478

Land Improvement $54,493

Building $145,314

2. Preparation of the journal entry to record the purchase

Dr Land $163,478

Dr r Land Improvement $54,493

Dr Building $145,314

Cr Cash $363,285

(To record purchase)

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