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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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Assuming that the car was stolen prior to delivery to abc motors and without the knowledge of any representative of abc motors,
tamaranim1 [39]

I believe in this case that ABC motors is the customer and the car was still being delivered to their office. Therefore the correct answer to this is:

The title of ABC motors would be “Void”

<span>This is considered right away as Void since there was no information or any knowledge on the part of ABC motors about the stolen car. </span>

7 0
3 years ago
The following information was available for the year ended December 31, 2016: Net sales $ 857,750 Cost of goods sold 609,550 Ave
mario62 [17]

Answer:Inventory turnover = 3.50 Times

Number of days sales in inventory= 94.5 Days

Accounts Receivable Turnover = 21.5 Times

Number of days sales in accounts receivable =12.5 days

Explanation:

a) Inventory turnover  = Cost of goods sold / Average inventory

$609,550 / $174,000 = 3.50 Times

b)Number of days sales in inventory = inventory at year end / Cost of goods sold x 365

$157,800 / $609,550  x 365 = 94.49≈94.5 Days

.

c)Accounts Receivable Turnover  = Net sales / Average accounts Receivable  for the year

$857,750/$39,900 = 21.49≈ 21.5 Times

d)Number of days sales in accounts receivable = end of year Accounts Receivable / Net credit sales x 365

$29,400 / $857,750  x  365 = 12.51 ≈ 12.5 days

8 0
3 years ago
What does it mean to “diversify” your portfolio?
olga nikolaevna [1]

Answer:

Explanation:"C": Spreading risk by investing your money in a variety of funds and investment options.

Go

5 0
3 years ago
Christine has purchased five bananas and is considering the purchase of a sixth. It is likely she will purchase the sixth banana
Anuta_ua [19.1K]

Answer:

b. the marginal benefit of the sixth banana exceeds its price.

Explanation:

Consumer consumes a commodity only until: that commodity consumption yields him/ her more or at least equal satisfaction than the - dissatisfaction from loosing money (price) spent at that commodity.

Marginal Benefit is in terms of Marginal Utility i.e Additional Satisfaction that consumer gains from consuming an additional unit of a commodity.

So, Christine will purchase 6th Banana only if additional satisfaction from that additional banana's consumption > dissatisfaction owing to price cost paid for it.

If Marginal Value < Price, its satisfactory loss making for her & she will rather reduce banana consumption. Average & Total Values are not apt tools to analyse the case.

7 0
3 years ago
The targeted information presented on blogs, such as daily kos and power line, is an example of
Svetach [21]
<span>The targeted information presented on blogs, such as Daily Kos and Power Line, is an example of narrowcasting. Its objective is to deliver custom-tailored ads based on demographic, psychographic and past buying patterns to potential recipients who are predisposed to it. It is also an act of spreading an advertising message or signal over a small geographical area or to a selected group of audience. Narrowcasting done through direct mail, cable television, seminars, specialized trade publications, and keyword-associated web advertising.</span>



4 0
3 years ago
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