<u>Solution and Explanation:</u>
Land = 430000 + 48000 - 6800 + 2050 + 1400 = $474650
Building = 2100 + 64000 + 700 + 1200000 + 1610000 + 220000 = $3096800
In the land, cost of land has been included and along with amount to raze old building is included. salvage value is subtracted and legal fees is included and insurance on property cost is also included in the calculation of land.
In the calculation of building, land survey fees is included, drawing of factory plans is included, insurance premium fess is included, instalments amounts is included and interest cost is also included.
The effect of the transaction by Atkins Company of collecting payment for an amount owed by a customer is One asset would increase $1,750 and a different asset would decrease $1,750, causing no effect.
<h3>How does an increase and decrease in assets affect the accounting equation?</h3>
The fact that a customer owed Atkins Company means that the customer was an accounts receivable which is an asset account.
The cash that Atkins Company collected is also an asset. So, the transaction simply led to one asset(accounts receivable) being reduced and the other asset(cash) being increased. The amount is the same so there would be no effect.
Find out more on changes to the accounting equation at brainly.com/question/27905497
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Answer and Explanation:
Long-term Liabilities
Bonds Payable $600,000
Less:
Discount on bonds payable $45,000 $555,000
Notes payable $80,000
Total Long-term Liabilities $635,000
Answer:
($148 million)
Explanation:
Calculation to determine Rapid Pac’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2021
Cash flow from Investing activities ($ Million)
Proceeds from sale of land 12
Purchase of Investment (160)
Net cash inflows (outflows) from Investing activities ($148)
Therefore Rapid Pac’s statement of cash flows, what were net cash inflows (or outflows) from investing activities for 2021 will be ($148 million)
ANSWER: The correct answer is True. Consumer price Index computes inflation or market basket of consumers.
Explanation: It measures the price changes in the goods or services basket for consumers which represents the consumption expenditure in the economy. It is calculated on various categories or sub- categories like,urban or rural. It measures the inflation rate and scans the percentage change of the index over a period of time. It measures increase in the price of households basket.
