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kow [346]
3 years ago
7

In 1990, Johnson Company purchased a building for $170,000. In 2020, a real estate professional says the building has a fair val

ue of $1,000,000. In 2020, a similar building down the street recently sold for $900,000. What value, before consideration of accumulated depreciation, is reported for the building on the balance sheet at December 31, 2020?
Business
1 answer:
Julli [10]3 years ago
4 0

Answer:

$170,000.00

Explanation:

The amount of $170,000.00 will still be recorded as the value of the building, before considering accumulated depreciation.

<em>Fair value</em> of $1,000,000.00 or <em>selling price</em> of $900,000.00 does not affect the original value of the building in the company's balance sheet.

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Answer:

Explanation:

Mike insurance company will pay = 0.9 of 400 = $ 360

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Sherry, a 12-year-old, visited a website that wanted to know her family size, her parents' educational level, and her weekly all
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Answer:

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Explanation:

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3 years ago
Magazines and journals are examples of periodical resources. True False
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The answer to your question is true.
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On December 31, 2020, McDaniel Company had $1,200,000 of short-term debt in the form of notes payable due February 2, 2021. On J
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Answer and Explanation:

The preparation is presented below:

<u>                                                  McDaniel Company </u>

<u>                                                  Partial balance sheet</u>

Particulars                                      Amount

Current liabilities

Note payable                                 $250,000

Long term debt

Note payable refinance                $950,000

Total liabilities                                $1,200,000

We simply added the long term debt and the current liabilities so that the total liabilities could come

8 0
3 years ago
Johansen Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. The
soldier1979 [14.2K]

Answer:

A) $2.50 per direct labor-hour

Explanation:

The computation of the predetermined overhead rate is shown below:

Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)

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= $15,000 + $8,000 + $12,000 + $15,000

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