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Lady bird [3.3K]
2 years ago
5

Latham Corporation constructs a new factory building. The materials cost $300,000. Other costs include direct labor of $150,000,

worker pension costs of $5,000, architectural fees of $15,000, and depreciation on equipment of $25,000. The land was purchased for $30,000. A loan of $500,000 is needed to finance the construction, and interest of $40,000 is paid during the year.
Required:
What is Latham's basis in the building?
Business
1 answer:
Dovator [93]2 years ago
3 0

Answer:

$535,000

Explanation:

The computation of the Latham's basis in the building is shown below:

= The material cost + direct labor cost + worker pension cost + architectural fees + depreciation on equipment  + interest paid during the year

= $300,000 + $150,000 + $5,000 + $15,000 + $25,000 + $40,000

= $535,000

It includes both direct and indirect cost

Since we have to compute for the building so we do not considered the purchase value of land and the loan amount

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The country of Lilliput has low unemployment and high consumer spending, and small businesses are thriving. However, prices are
lara31 [8.8K]

Answer:

Raise the income tax, which gives citizens less money to spend, and buy more services from civilian - owned businesses, which creates more jobs.

Explanation:

To prevent inflation, Lilliput's government should raise the income tax, which gives citizens less money to spend and buys more services from a civilian-owned business, which creates more jobs.

In this way, it can increase employment and reduce consumer spending which in turn will prevent inflation.

7 0
3 years ago
Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputa
11Alexandr11 [23.1K]

Nordstrom, an upscale department store, has a well-known reputation for going the extra mile to serve its customers. This reputation for excellent customer service will most likely result in a sustainable competitive advantage.

<h3><u>Explanation:</u></h3>

When a firm offers its customers with any products that has higher quality and benefits or lower price that its competitors then it refer to the competitive advantage. It is the advantage that the firm attains when compared with their competitors.

There are many different kinds of competitive advantage that can be used by a firm such as cost, product differentiation, niche strategies, etc. It is the thing that is absent in the competitors. In the given example, Nordstrom has well known reputation for the service that it gives for its customers and hence it is the likely result of sustainable competitive advantage.

7 0
3 years ago
By comparing subsidiary accounts to schedules of accounts payable, an
Stolb23 [73]

A comparison of the subsidiary accounts to the schedules of accounts payable will help the accountant to <u>A. prove the accounts payable accounts at the end of a period.</u>

<h3>What is a Subsidiary Account?</h3>

A subsidiary account tracks the information of certain transactions in detail. Some of the most important subsidiary accounts include accounts receivable and accounts payable.

Thus, by comparing the subsidiary accounts to the schedules of accounts payable, an accountant proves the existence and completeness of the accounts payable balance at the end of a period.

Learn more about subsidiary accounts here: brainly.com/question/4656883

6 0
2 years ago
With free trade, that is, assuming no tariff, the outputs produced by domestic and foreign producers would be:_______.
SIZIF [17.4K]

The Correct 1 unit and 15 units are the outputs produced by domestic and foreign producers with free trade assuming there is no tariff.

<h3>What is a free trade?</h3>

This refers to an international business policies that occurs when goods and services can be bought and sold between countries without tariffs, quotas or other restrictions being applied.

This policy tends to increase the volume of international trade among member countries and also allow them to increase their specialization in their respective comparative advantages.

Hence, in the graph given, the Correct 1 unit and 15 units are the outputs produced by domestic and foreign producers with free trade assuming there is no tariff.

Read more about free trade

brainly.com/question/10608502

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4 0
1 year ago
On January 15, Cheyenne Corp. sells merchandise on account to Flounder Associates for $4500 with terms 2/10, n/30. On January 20
Leni [432]

Answer:

The amount of cash received on January 24 is $3332

Explanation:

The amount of cash received will be for the net amount of receivable after adjusting for sales returns and the sales discount as the payment is received within the discount period of 10 days as stated by the term 2/10 which means a 2% discount if payment is received within 10 days of sale.

The accounts receivable at January 15 after sale were $4500. Out of this amount, $1100 of returns are made. Thus, the remaining balance of accounts receivables after return is $4500 - $1100 = $3400

The discount received will be = 3400 * 2% =  $68

Thus, the cash received on January 24 will be 3400 - 68  =  $3332

6 0
3 years ago
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