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Taya2010 [7]
2 years ago
12

Tonto Company purchased property for $125,000. The property included a building, equipment and land. The building was appraised

at $72,000, the land at $50,000, and the equipment at $23,000. What is the amount of cost to be allocated to the building in the accounting records
Business
1 answer:
velikii [3]2 years ago
3 0

Answer:

The cost allocated to the building is $ 62,068.97  

Explanation:

The total appraised cost for the components of the property purchased=$72,000+$50,000+$23,000=$ 145,000.00  

The cost allocated to the building in the accounting records is the cost of the property multiplied by the building appraised value of $72,000 while dividing by the total of the  appraised value of $145,000

cost allocated to building=$125,000*$72,000/$145,000=$ 62,068.97  

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7 0
2 years ago
Wilton Corporation had beginning retained earnings of $724,000 and ending retained earnings of $833,000. During the year, it iss
ryzh [129]

Answer:

Explanation:

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7 0
3 years ago
If total liabilities decreased by $15,000 and stockholders' equity increased by $10,000 during a period of time, then total asse
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Answer:

The total assets must change by B) $5,000 decrease

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hi, remember that:

Assets=Liabilities+Equity

If liabilities decrease by $15,000 and equity increases by $10,000...

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Therefore, to balance this equation, we have to substract -$5,000 from the assets, therefore, the assets decrease by 5,000, which is B)

Best of luck.

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7 0
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