Answer:
the cost to be assigned to the building is $288,000
Explanation:
The Costs of Land, Building and Equipment have to be determined separately due to the fact that their usage is different and hence depreciation charges are different.
The Appraisal value is used to apportion the cost of $450,000 to the Land, Building and Equipment as follows :
PPE Item Appraised Value
Land $100,000
Building $320,000
Equipment $80,000
Total $500,000
Apportionment of Cost to Building :
Building = $320,000/ $500,000× $450,000
= $288,000
Answer:
life insurance ( B )
Explanation:
Insurance is a agreement reached by a company and an individual,corporate entity or the government to provide a guarantee of compensation for the insured individual or corporate entity in cases that the individual or entity encounters an unforeseen loss. the insured pays a premium to keep this agreement runing.
For a compensation options that pays for premiums that covers expenses resulting from death it is called Life insurance compensation plan or life insurance policy plan.
Answer:
Multiple-step income statement for the year ending December 31, year 1
Sales $275,200
Cost of Goods Sold <u>($185,000)</u>
Gross Profit $90,200
Operating Expenses:
Administrative Expense ($35,000)
Selling expenses <u>($55,000)</u>
General Expense <u>($45,000)</u>
Operating Income ($44,800)
Non-Operating Revenue <u>$105,000</u>
Operating Income before tax $60,200
Income taxes <u>($25,000)</u>
Operating Income after Tax <u>$35,200</u>
Explanation:
Multi-step Income statement segregate the Operating Income and Expenses from non operating Income and Expense. It shows the gross profit and net operating income separately.
The appropriate response is Tariff-quota. Tariff quotas might be recognized from import shares. A tax portion allows the import of a specific amount of a product obligation free or at a lower obligation rate, while amounts surpassing the standard are liable to a higher obligation rate. An import portion, then again, limits imports totally.
