1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Citrus2011 [14]
3 years ago
12

Mason Farms purchased a building for $689,000 and made repairs costing $136,000. The annual taxes on the property are $8,200. Th

e building has a current market value of $730,000 and a current book value of $394,000. The building is mortgage-free. If the company decides to use this building for a new project, what value, if any, should be included in the initial cash flow of the project for this building?
Business
1 answer:
ZanzabumX [31]3 years ago
6 0

Answer:

$730,000

Explanation:

In the given question, the building was purchased and it repairs also. Plus, annual taxes are applicable to the property. The current market value and the book value of the building is also given in the question

For including the amount in the initial cash flow for the building project we consider the current market value of the building i.e $730,000. No other cost should be recognized

You might be interested in
he nation of Pecunia had a current account deficit of ​$ billion and a nonreserve financial account surplus of ​$ million in 201
Andrei [34K]

Answer: -$500,000,000

Explanation:

The Balance of payment is an account that shows the difference between the money coming into a country as a result of transactions with other nations and money going out for the same reason.

Given the figures in the question, the Balance of Payments is;

= Current Account balance + Nonreserve financial account balance

= -1,000,000,000 + 500,000,000

= -$500,000,000

4 0
3 years ago
Which of the following assets held by a manufacturing business is a §1231 asset?
insens350 [35]

Answer:

A factory building used in the business and held more than one year.

Explanation:

<u>According to Section 1231</u>. property are assets that are used in your trade or business and are held by the Taxpayer for more than one year.

The factory building has serve the purpose of the section. It is used for a trade and has been held by the taxpayer for more than a year, hence, the property can be termed an assets by a manufacturing business

6 0
3 years ago
The impairment rule for goodwill involves how many steps?(a)1(b)2(c)3(d)4
Kobotan [32]

Answer: 2 steps

Explanation: While calculating impairment of goodwill following steps should be taken :-

1.In the first step the fair value of the goodwill is compared with its carrying value.

2. In the second step, if the fair value comes to be lower than the carrying value, then it is concluded that there is an impairment and then it is computed accordingly.

7 0
2 years ago
preparing adjusting and closing entries across two periods norton company closes its accounts on december 31 each year. the comp
Rama09 [41]

Answer:

Requirement: <em>Prepare journal entries to: (a) Accrue the salaries payable on December 31, b) Close the Salaries Expense account on December 31 (the account has a year-end balance of $250,000 after adjustments), (c) Record the salary payment on January 7</em>

Date     Accounts title and Explanation      Debit          Credit

31-Dec  Salaries expense                             $1,880

                   Salaries Payable                                             $1,880

             (To record accrued salaries )  

31-Dec   Retained Earnings                          $250,000  

                     Salaries Expense                                          $250000

              (To close salaries expense account)

07-Jan   Salaries Payable                             $1,880

              Salaries expense                            $2,920

                     Cash                                                                $4,800

              (To record payment of salary)

3 0
2 years ago
Plzzzz ill give 25 points <br>asap plzzz I luv u for who ever does it​
Alika [10]

Answer:

can you please tell me the question because it's kind of blurry and I will be glad to answer it if I can

4 0
2 years ago
Other questions:
  • On December 1, Year 1, Jack’s Snow Removal Company received $6,000 of cash in advance from a customer and promised to provide se
    13·1 answer
  • You borrow $1,000 from the bank and agree to repay the loan over the next year in 12 equal monthly payments of $90. However, the
    11·1 answer
  • The Wall Street Journal provides a set of guidelines each year for purchasing a laptop computer. The guidelines include recommen
    15·1 answer
  • The ""Relevant Skills and Accomplishments"" section is typically included only in ______________ resumes.
    10·1 answer
  • The following data relate to product no. 89 of Mansion Corporation: Direct material standard: 4 square feet at $2.80 per square
    11·1 answer
  • DuPont analysis is conducted using the DuPont equation, which helps you analyze three important factors that drive a company's R
    10·1 answer
  • Each bank in the town of La Rinconada has only a single set of locking doors at its entrance. In the town of Inverness, on the o
    6·1 answer
  • Preferred Stock Valuation Farley Inc. has perpetual preferred stock outstanding that sells for $30 a share and pays a dividend o
    6·1 answer
  • In a bad news message the reasons for the decision
    13·1 answer
  • Personal budget
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!