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navik [9.2K]
3 years ago
9

A building with an appraisal value of $126,112 is made available at an offer price of $155,827. The purchaser acquires the prope

rty for $39,712 in cash, a 90-day note payable for $24,525, and a mortgage amounting to $56,894. The cost basis recorded in the buyer's accounting records to recognize this purchase is a.$116,115 b.$126,112 c.$121,131 d.$155,827
Business
1 answer:
Norma-Jean [14]3 years ago
6 0

Answer:

C

Explanation:

The purchaser acquires the property  for $ 39,712

a 90-day note payable for $ 24,525

a mortgage amounting to $ 56,894

The cost basis recorded in the buyer's accounting records to recognize this purchase = $ 39,712 + $ 24,525 + $ 56,894  = $ 121,131

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When a buyer returns merchandise purchased for cash, the buyer will record the transaction as a:____
Gwar [14]

Answer:

c. Debit to Cash and a credit to Merchandise Inventory

Explanation:

When a buyer returns goods these are return outwards,

The correct entries to record them would be to debit cash as goods have been returned and credit the merchandise purchased so,

Debit cash account with the amount of goods returned

Credit Merchandise inventory with the amount of goods returned.

Hope that helps.

7 0
3 years ago
Phildell Phoenix is paid monthly. For the month of January of the current year, he earned a total of $8,288. The FICA tax rate f
AysviL [449]

Answer:

Total deduction                               2,443.21

Explanation:

8,288

x 6.20% Sccial Security                      513.856

x 1.45% Medicate                                120.176

x 6.20% FUTA&SUTA  (for 7,000)       434              

Income tax witheld                           1,375.17

Total deduction                               2,443.21

We will multiply his taxable wages for period by the tax rate.

We must noticew FUTA and SUTA applies fdor the first 7,000 only so we multiply by 7,000 not by 8,288

3 0
3 years ago
JPR Company's preferred stock is currently selling for $28.00, and pays a perpetual annual dividend of $2.00 per share. Underwri
scoundrel [369]

Answer:

8%

Explanation:

Data provided in the question

Current selling price of the preferred stock = $28

Annual dividend = $2 per share

Flotation cost = $3 per share

Firm tax rate = 40%

So by considering the above information, the cost of new preferred stock is

= Annual dividend per share ÷ (Current selling price of the preferred stock - Flotation cost)

= $2 ÷ ($28 - $3)

= $2 ÷ $25

= 8%

We simply applied the above formula so that the cost of preferred stock could arrive

7 0
3 years ago
The four Ps make up the marketing mix, which is the __________ set of decisions or activities that the firm uses to respond to t
Alexeev081 [22]

Answer:

clear and effective strategy comprising

Explanation:

The four Ps make up the marketing mix ,which are product, price, promotion, and place. These four components help determine a clear and effective strategy to bring a product to market. Each element is crucial in its own right and needs to be given due focus .

The product is either a tangible good or an intangible service that is seem to meet a specific customer need or demand. All products follow a logical product life cycle and it is vital for marketers to understand and plan for the various stages and their unique challenges .

Price covers the actual amount the end user is expected to pay for a product. How a product is priced will directly affect how it sells. This is linked to what the perceived value of the product is to the customer rather than an objective costing of the product on offer. If a product is priced higher or lower than its perceived value, then it will not sell. This is why it is imperative to understand how a customer sees what you are selling.

The marketing communication strategies and techniques all fall under the promotion heading. These may include advertising, sales promotions, special offers and public relations.

The place or placement deals with how the product will be provided to the customer. Distribution is a key element of placement. The placement strategy will help assess what channel is the most suited to a product.

5 0
3 years ago
Presented below is net asset information related to the Skysong Division, Inc.
dexar [7]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

3 0
3 years ago
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