Answer:
$600,000
Explanation:
The computation of the amount to be recorded for the building is shown below:
But first we have to determine the total acquisition cost of land which is as follows
= Cash + mortgage
= $750,000 + $250,000
= $1,000,000
Now it is mentioned that 60% is allocated to the building
So, it would be
= $1,000,000 × 60%
= $600,000
Answer: Transactions and Payment History.
Explanation:
The general ledger records the transactions and payment history of each customer to whom the business provides credit. The balance in each client account is periodically adjusted to the stability of accounts receivable in the general ledger, to ensure accuracy. It also provides details of these sales, showing dates and account numbers, credit, payments made against credit sales, discounts and refunds and fees.
Answer:
the total partner equity is $105,000
Explanation:
The computation of the total partner equity is shown below;
= Capital contributions × number of partners - withdrawn amount by the partners + total profit
= $50,000 × 2 - $5,000 - $7,500 + $17,500
= $105,000
hence, the total partner equity is $105,000
Therefore the correct option is B.
Inventory turnover rate = 8 times
Cost of goods sold = $150,000
Then the average inventory of company is $18,750.
This is how we calculate this;
Cost of goods sold / inventory turnover rate =
$150,000 / 8 = $18,750.
Answer:
(B) $8,000 (0.80 per pound shipped).
Step-by-step explanation:
In ABC system, the shipping cost to be assigned can be calculated by using the shipping cost per pound. Shipping cost per pound will be an appropriate cost driver for the shipping activity. The revenue generated by customer is irrelevant for computation of total cost.
Shipping cost = Shipping cost per pound × quantity ordered by customers.
Therefore,
Shipping cost = (Total shipping cost ÷ total quantity shipped) × Quantity ordered by customer.
Therefore,
Shipping cost = 1,200,000 ÷1,500,000 × 10,000
Shipping cost = 0.8 × 10,000
Shipping cost = $8000
