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Margaret [11]
3 years ago
9

On October 17, Nickle Company purchased a building and a plot of land for $589,200. The building was valued at $312,276 while th

e land carried a value of $276,924. Nickle paid $61,900 down in cash and signed a note payable for the balance. Write the journal entry.
Business
1 answer:
Travka [436]3 years ago
3 0

Answer:

Explanation:

The journal entry is shown below:

Building A/c Dr $312,276

Land A/c Dr       $276,924

        To Cash A/c             $61,900

        To Notes payable A/c $527,300

(Being the purchase of building and land for cash and note payable is recorded)

The computation of the notes payable is shown below:

= Total purchase value - cash paid

= $589,200 - $61,900

= $527,300

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The following information was taken from the segmented income statement of Restin, Inc., and the company's three divisions:_____
mars1129 [50]

Answer:

The profit margin controllable by the Central Valley segment manager is:  $ 95,000.

Explanation:

Only items directly controllable by the Manager should be included in the divisional financial performance measure.

<u>Central Valley Division</u>

Revenues                                         $ 405,000

Less Variable Costs :

Variable operating expenses        ($ 230,000)

Controllable Contribution                $ 175,000

Less Controllable fixed expenses   ($80,000)

Controllable Profit                             $ 95,000

3 0
2 years ago
The budgeted variable selling and administrative expense is calculated by multiplying the budgeted unit sales by the variable se
postnew [5]

Answer: True

Explanation:

Variable selling and administrative expenses increase with the number of sales so in order to get them, one needs to multiply the number of sales by the variable and administrative expenses.

This also goes for the budgeted variable selling expenses. To find out these costs, multiply the expected variable and admin expenses by the budgeted number of sales. The amount you get will show the amount of variable expenses to budget based on the sales you budgeted.

3 0
2 years ago
The marginal utilities associated with the first 5 units of consumption of good Y are 15, 15, 10, 7, and 3, respectively. What i
julsineya [31]

Answer:

Total utility is 50

Explanation:

Mathematically;

TU = U1+MU2+MU3+MU4+MU5

TU = Total utility

U1= utility of 1st product of good Y

MU2= Marginal utility of 2nd product of good Y.............

MU5= Marginal utility of 5th product of good Y

Solution:

TUy= 15+15+10+7+3

TUy= 50.

6 0
3 years ago
TwitterMe, Inc., is a new company and currently has negative earnings. The company’s sales are $2.1 million and there are 130,00
Paladinen [302]

Answer:

a. $69.46

b. 58.15

Explanation:

a. Price = Benchmark PS ratio × Sales per share

<u>Sales per Share</u>

=  Sales / Shares outstanding

= 2,100,000/130,000

= $16.15

Price = 4.3 * 16.15

Price = $69.46

b. PS Ratio is 3.6

Price = Benchmark PS ratio × Sales per share

Price = 3.6 * 16.15

Price = $58.15

7 0
3 years ago
"compare intel's actual and pro forma (as if) ratios of intangible assets to long-lived tangible assets in 2012. use r&amp;d cap
kobusy [5.1K]

Since Intel has a history of effectively transforming R&D investment into income, the pro-forma version of the ration seems to be of more significant. A company starting, for instance, would be unalike: its track record would be much poorer and probabilities are that the criteria set in place would not be as rough as Intel’s. Therefore, it appears that the significance hinge on the kind of business: if future benefit is more of a doubt, then R&D should be expensed. The contradictory is true if benefit is almost certain. Intel also has the advantage of being very vibrant with its R&D objectives and having exact, measurable standards. They note obviously what the funds are apportioned to and what the end outcomes should be of the growth.

4 0
3 years ago
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