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Taya2010 [7]
3 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]3 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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Answer:

rely on the invisible hand of the market to reallocate resources,

Explanation:

The invincible hand was adams Smith's idea which is defined as an observable market force that helps the demand and supply of goods in a free market to attain equilibrium naturally without government intervention in the market thereby leaving the people alone to buy and sell freely among themselves . This would naturally choose type of goods to be produced and reduce resource waste by closing Down weak markets that produce less demanded products.

6 0
3 years ago
Read 2 more answers
Which fact supports the idea that renting is a good
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The fact that support the idea that renting is a good is Landlords take care of most maintenance.

<h3>What is renting?</h3>

Renting refers to an agreement where a payment is made for the temporary use of a good, service or property owned by another.

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3 0
2 years ago
At Bargain Electronics, it costs $30 per unit ($20 variable and $10 fixed) to make an MP3 player that normally sells for $45. A
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Answer:

The special order should be : Accepted

Explanation:

<u>Analysis of whether or not to accept special order</u>

Revenues (3,000 x $25)                             $75,000

Less Variable expenses :

Costs - Manufacturing (3,000 x $20)       ($60,000)

Shipping (3,000 x $3)                                  ($9,000)

Net Income                                                    $6,000

Conclusion :

Since Net Income has increased by $6,000 as a result of special order, it should be accepted

6 0
3 years ago
Leiff goes online to buy a new video game. He finds a site that currently has a promotion of 15% off on all orders over $50. Lei
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Answer:

d. $119.32

Explanation:

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= Video game price - discount + sales tax + shipping fee

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The discount = Video game price × discount percentage

= $128 ×15%

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The sales tax =  (Video game price - discount) × sales tax rate

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= $5.77

And, the shipping fee is $4.75

Now put these values to the above formula  

So, the value would equal to

= $128 - $19.2 + $5.77 + $4.75

= $119.32

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What poster are you referring to? There’s nothing there but the question

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