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Grace [21]
3 years ago
15

Jason Thompson purchase an office building 10 years ago for $780,000. The building was just appraisal $1.25 million. What value

should be used for the building in Jason's accounting records?
Business
1 answer:
Kamila [148]3 years ago
8 0

Answer:

No adjustment in records can be made until the asset is sold.

Explanation:

This is an example of cost concept. Assets are generally recorded at cost and remain on the accounting records at cost until they are disposed of. Future economic condition may change this appraised value, and therefore no adjustment in records can be made until the asset is sold.

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A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 350
nydimaria [60]

Answer:

The costs assigned to ending inventory based on the LIFO method under periodic inventory system are:

= $450.

Explanation:

a) Data and Calculations:

On January 26, the company sells 350 units. 150 units remain in ending inventory at January 31.

                                                           Units           Unit Cost    Total Cost

Beginning inventory on January 1      320              $ 3.00          $960

Purchase on January 9                         80                 3.20             256

Purchase on January 25                     100                 3.34              334

Tota units available for sale               500                                 $1,550

Sales on January 26                          350                                  $1,100

Ending inventory at January 31          150               $3.00          $450

8 0
3 years ago
Which action can hurt your credit score? I. Paying your phone bill late. II. Taking the bus to work. III. Maxing out several cre
worty [1.4K]
Paying your phone bill late and maxing out your credit cards will hurt your credit... So it should be 1 and 3 :)
3 0
3 years ago
Read 2 more answers
Even if your family can pay the full amount of attending college, filling out the Free Application for Federal Student Aid (FAFS
Olegator [25]
I believe the answer is D
4 0
2 years ago
Read 2 more answers
Which of the following are examples of job amenities?A. a child-care center at work B. health insurance benefits C. pleasant wor
Temka [501]

Answer:

The correct option here is E) all of the above.

Explanation:

Job amenities are nothing but the perks or benefits that a employee receives from his or her employer company . There can be various benefits that a employee can receive like health insurance, pension plan , dental insurance, vacation, or sick days , good working conditions etc.

All of the choices given in the question are examples of job amenities that a employee receives

6 0
3 years ago
The Brainchild is a store that specializes in educational toys for children. In order to increase the probability of customers v
Viefleur [7K]

Options: decreasing an importance weight. increasing a performance belief. decreasing the performance belief for a competitive retailer. adding new benefits. focusing on all benefits.

Answer: ADDING NEW BENEFITS.

Explanation:Adding new benefits or improving existing benefits are ways used by Store or business organisations to attract new customers or to retain existing ones or improve its number of loyal customers.

Benefits are free services or gifts given, Brainchild has increased the benefits of buying from its store by offering discounts, gift wrapping, and free shipping,all these will attract more customers to its store and hence increase loyal customers and number of customers.

6 0
3 years ago
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