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3 years ago

At what value should the land be recorded in clementine repair service records?

Business

1 answer:

adell [148]3 years ago

6 0

Answer: $369,500

Explanation:

The Cost concept of accounting calls for the recording of Assets at their cost.

Clementine Repair services offered to buy the land at $350,500 when it was priced at $388,500.

The seller countered with $369,500 and Clementine accepted this.

This means that Clementine bought the land for $369,500 which makes it the cost price.

They should therefore record it at $369,500.

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Suppose that jack, sophia, and hal enter into a contract to close on the business without the non-competition agreement. jack st

Anarel [89]

If jack does not accept the $100,000 there is a valid contract for the sales business, with out a non competition clause.

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3 years ago

A study comparing perceptions of punctuality in the United States and Brazil found that Brazilian timepieces are less reliable a

son4ous [18]

Answer: Polychronic Time

Explanation: A culture that makes use of Polychronic time engages in so many activities at a time, and most times end up not being able to meet up with their main objective.

On the other hand a culture that makes use of monochronic time values doing a thing at a time and find it easier to meet their targets.

The Brazilians are more of a Polychronic time culture as described in the question.

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3 years ago

Rock industries allocates manufacturing overhead at a predetermined rate of 160% of direct labor cost. Any overallocated or unde

nadya68 [22]

Answer:

<u>Cost of goods manufactured for November.</u>

Manufacturing Schedule Cost

Beginning Inventory (Job 205) $11,800

Direct materials $26,000

Direct labor costs $21,000

Applied Overheads ($21,000 x 160%) $33,600

Less Ending Inventory (Job 104) ($6,900)

Cost of Goods Manufactured $85,500

<u>Journal entries to record the current month activity.</u>

Debit : Work In Process $80,600

Credit : Direct materials $26,000

Credit : Direct labor costs $21,000

Credit : Applied Overheads ($21,000 x 160%) $33,600

<u>Calculation of amount of over allocated or under allocated manufacturing overhead</u>

Actual Manufacturing Overheads = $32,000

Applied Manufacturing Overheads = $33,600

Therefore, Overheads Over-applied = $1,600

4 0

3 years ago

John's friend just gave him a pair of concert tickets to see his favorite rock group perform this weekend. Each ticket sells for

Len [333]

Answer:

$80 lost for not working

Explanation:

Opportunity cost refers to the sacrificed benefits as a result of preferring on a particular option over another. As people make choices, the forfeit one option in favor of another. Opportunity cost is the missed value of the next best alternative.

For John, he has a choice between working or going to the concert. He has two tickets worth $50. Working would mean her twice her regular income, which is $20 per hour. If he works for four hours, his total earning will be $80. If John chooses to go to the concert, he will miss the opportunity to earn $80. The opportunity cost will be the missed $80 that he would have received from working.

6 0

3 years ago

In the month of July (31 days), a company had an available balance in their deposit account of $4,126,000 and service charges of

anygoal [31]

The amount that the company owe the bank in hard dollar fees, after adjustment for earnings credit is:$1081.

<h3>Amount owe after adjustment</h3>

Using this formula

Amount owe=Service charges-(Deposit balance×(1-Reserve requirement)×ECR× Number of days/Number of days in a year)

Let plug in the formula

Amount owe = 2500 - (4126000× (1-.10)×0.45%×31/365)

Amount owe = 2500 - (4126000×.90×0.45%×31/365)

Amount owe=2500-1,419

Amount owe =$1081

Therefore the amount that the company owe the bank in hard dollar fees, after adjustment for earnings credit is:$1081.

Learn more about Amount owe after adjustment here:brainly.com/question/27489236

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8 0

2 years ago