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Nat2105 [25]
3 years ago
7

Riverboat Adventures pays $310,000 plus $15,000 in closing costs to buy out a competitor. The real estate consists of land appra

ised at $35,000, a building appraised at $105,000, and paddleboats appraised at $210,000. Compute the cost that should be allocated to the land.

Business
2 answers:
Luden [163]3 years ago
6 0

Answer:

The cost should allocate to the land is $32,500.

Explanation:

Please see attachment .

netineya [11]3 years ago
3 0

Answer:

Land 32,500

Explanation:

\left[\begin{array}{cccc}&fair \: value&percent&accounting\\land&35,000&0.1&32,500\\bulding&105,000&0.3&97,500\\paddleboats&210,000&0.6&195,000\\&350000&&325000\\\\\end{array}\right]

We will first calcualte the percent of each component of the real state.

Then we multiply by the total cost paid, which is 325,000

This is the amount we should enter the assets into accounting

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During fiscal 2016, Shoe Productions recorded inventory purchases on credit of $337.8 million. The financial statement effect of
iren2701 [21]

Answer:

A. Increase liabilities (Accounts payable) by $337.8 million

Explanation:

The journal​ entry will be: Inventory (Credit - Increased) 337,860,000 and Accounts payable (Debit - Increased) 337,860,000.

The company must recognize the increase in the Inventory and the medium of payment (Accounts payable).

B is false because this operationn can also be a decrease in cash, but the amount in the operation is too high for this payment medium.

C is false because, the inventory is not sold, and COSG will be increased when the goods are sold.

D is also false because the inventory is increasing, not decreasing.

6 0
3 years ago
Why would an entrepreneur be best suited to opening a new business, rather than buying an existing business or franchise?
Mariulka [41]

Answer:

For example, it's really easy to finance while buying in an existing business while starting a new one. In Addition tons of bankers and investors all around the world would feel more comfortable dealing with a business that already has had a proven track record.

Explanation:

3 0
3 years ago
If a country's economy is to sustain long-run economic growth, the business environment must be conducive to the consistent prod
Aliun [14]

Answer:

True

Explanation:

One of the significant advantages of development is its commitment to monetary development. Basically, advancement can prompt higher profitability. As profitability rises more commodities and are delivered which improves the economic growth. Financial development just originates from expanding quality and amount of the fundamentals of generation, which comprise of four wide types: land, labour, capital, and entrepreneurship. The components of generation are the assets utilised in producing goods and services.

5 0
3 years ago
The real interest rate tells you Question 31 options: how fast the number of dollars in your bank account rises over time. how f
Elan Coil [88]

The real interest rate tells you how fast the purchasing power of your bank account rises over time.

<h3>What is meant by the real interest rate?</h3>
  • When a borrower pays back a loan with interest, the lender obtains a gain in purchasing power that is expressed as a percentage.
  • In the previous illustration, the lender made $8 on the $100 loan, or 8%.

<h3>What is real and nominal interest rate?</h3>
  • The real rate of a bond or loan is determined by adjusting a real interest rate to account for the impacts of inflation.
  • The interest rate before accounting for inflation is referred to as a nominal interest rate.

<h3>Why real interest rate is important?</h3>
  • Real interest rates are the main concern of economists.
  • Investors may be forced to take on greater risk or withdraw entirely depending on the real rate.
  • Without ever taking a dollar, it can drain your savings.
  • Every central bank in the world has it on their radar.

Learn more about real interest rate here:

brainly.com/question/6106690

#SPJ4

5 0
2 years ago
Riverbed Corp bought equipment on January 1, 2022. The equipment cost $460000 and had an expected salvage value of $65000. The l
balandron [24]

Answer:

Book value= $302,000

Explanation:

Giving the following information:

Purchase price= $460,000

Salvage value= $65,000

Useful life= 5 years

<u>First, we need to calculate the annual depreciation.</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (460,000 - 65,000) / 5

Annual depreciation= $79,000

<u>Now, the accumulated depreciation after 2 full years:</u>

Accumulated depreciation= 79,000*2= $158,000

<u>Finally, the book value:</u>

Book value= purchase price - accumulated depreciation

Book value= 460,000 - 158,000

Book value= $302,000

7 0
2 years ago
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