Answer:
Dr land $278,000
Dr building $347,500
Dr equipment $556,000
Dr inventories $208,500
Cr cash $1,390,000
Explanation:
The total amount spent in acquiring the assets is $1,390,000 which needs to be shared between the assets acquired on the basis of individual values of the assets
Total of individual assets' values=$304000+$380000+ $608000+$228000=$ 1,520,000.00
Cost attributable to land:$304000/$1520000*$1,390,000=$ 278,000.00
Cost attributable to Building:$380000/$1520000*$1390000=$ 347,500.00
cost attributable to equipment=$608000/$1520000*$1390000=$556,000.00
cost attributable to inventories=$228000/$1520000*$1390000
=$208,500.00
Answer:
1999 Merger of Exxon and Mobil
The reason that made the U.S. government to require Exxon and Mobil to divest themselves of so many gas stations in localized parts of the country to be willing to allow the merger to occur is:
c. To ensure competition in these regions and protect consumers from unwarranted price increases.
Explanation:
The agreement to sell so many gas stations in localized parts of the country was to forestall antitrust lawsuits. It was also made to protect consumers from unwarranted price increases, allowing more competition in the affected areas, where ExxonMobil owed too many gas stations.
Answer:
The correct answer is B.
Explanation:
Giving the following information:
Mary's Baskets Company expects to manufacture and sell 30,000 baskets in 2019 for $5 each.
<u>Sales revenue is the result of multiplying the number of units sold for the selling price per unit:</u>
<u></u>
Sales= 30,000*5= $150,000
The authoritative body designated to promulgate standards concerning an accountant's association with unaudited financial statements of an entity that is not required to file financial statements with an agency regulating the issuance of the entity's securities is the: <u>accounting and review services committee</u>.
<u>Explanation</u>:
The Accounting and Review Services Committee is a committee that engages in reviewing or compiling the unaudited financial statement.
An unaudited financial statement is a document that is not submitted by an individual for verification and review process. The financial statement is said to be unaudited until they are reviewed and approved by a certified external auditor.
The accounting and review services committee are responsible for promulgating standards regarding accountant association. The auditor helps in reviewing the financial statement of the individual.
Answer:
$14,091
Explanation:
The compounding formula would be used here, which is as under:
Future Value = P * [1 - (1+i)^-n] / i
Here
P is the periodic payments of $2,100
n is the number of periodic payments made which is once in a year and total of 10 in 10 years. So n = 10 number of periodic payments.
r is the annual interest rate which is 8%
By putting this value in the equation, we have:
Future Value = $2,100 * [1 - (1 + 8%)^-10] / 8%
Future Value = $14,091
