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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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For each scenario, decide whether it creates a producer or a consumer surplus. Then, calculate the ensuing surplus.
Gnom [1K]

Answer:

Alice's consumer surplus =  $5

Jeff's consumer surplus = $16

Nicole's producer surplus = $1

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of a good.

Consumer surplus = willingness to pay - price of the good

Producer surplus is the difference between the price of a good and the least price the producer is willing to accept

Producer surplus = price of the good - least price the producer is willing to accept

Alice's consumer surplus = $30 - ($35 - $10) = $5

Jeff's consumer surplus = $20 - [$16 - (0.75 x $16)] = $16

Nicole's producer surplus = $501 - $500 = $1

5 0
3 years ago
In a new margin account, a customer buys 300 shares of ABC at $40 per share, 100 shares of the Ajax Mutual Fund at $24, and 10 P
never [62]

Answer: 12400

Explanation:

It should be noted that 50% of the stick value will be paid by the customer and also 100% of the mutual fund shares value will also be paid because they are nonmarginable securities.

Therefore, 50% of $12,000 = $6,000

Total payment required will now be:

= $6,000 + $2,400 + $4,000

= $12,400.

3 0
3 years ago
Suppose the government enacts a stimulus program composed of $400 billion of new government spending and $200 billion of tax cut
LUCKY_DIMON [66]

Answer:

thank you for points I will return them to you in 2 days

5 0
3 years ago
Sandra Sousa, Registered Dietician Trial Balance July 31, 2018 Balance Account Title Debit Credit Cash 33000 Accounts Receivable
kirza4 [7]

Answer:

Requirement 1. Prepare the income statement for the month ended July 31, 2018.

Sandra Sousa, Registered Dietitian

Income Statement

For the Month Ended July 31, 2018

Service Revenue $11,258

Salaries Expense -$1,500

Rent Expense -$1,200

Utilities Expense -$350

Net income $8,208

Requirement 2. Prepare the statement of owners equity for the month ended July 31, 2018.

Sandra Sousa, Registered Dietitian

Statement of Owner's Equity

For the Month Ended July 31, 2018

Sousa, Capital balance July 1, 2018       $22,000

Investment during month                                  $0

<u>Net income                                                 $8,208</u>

subtotal                                                     $30,208

<u>Withdrawals during the month                -$2,000</u>

Sousa, Capital balance July 31, 2018     $28,208

Requirement 3. Prepare the balance sheet &s of July 31, 2018.

Sandra Sousa, Registered Dietitian

Balance Sheet

For the Month Ended July 31, 2018

Assets:

Cash $33,000

Accounts Receivable $9,600

Office Supplies $2,200

Prepaid Insurance $2,800

Equipment $18,000

Total assets $65,600

Liabilities and equity:

Accounts Payable $3,100

Unearned Revenue $292

Notes Payable $34,000

Sousa, Capital $22,000

Retained earnings $6,208

Total liabilities and equity $65,600

Requirement 4. Calculate the debt ratio as of July 31, 2018.

debt ratio = liabilities / assets = $65,600 / $37,392 = 175.44%

debt to equity ratio = liabilities / equity = $37,392 / $28,208 = 132.56%

7 0
3 years ago
A company with a labor agreement under which union membership cannot be required as a condition of employment is considered a
frez [133]
A company with a labor agreement under which union membership cannot be required as a condition of employment is considered an open shop.
This means that the employees do not have to join a trade union in order to work there at this particular company. So regardless of the fact whether these workers are members of the union or not, they will be employed and paid equally.
7 0
3 years ago
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