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Studentka2010 [4]
2 years ago
12

On January 1, Mitzu Co. pays a lump-sum amount of $2,700,000 for land, Building 1, Building 2, and Land Improvements 1. Building

1 has no value and will be demolished. Building 2 will be an office and is appraised at $660,000, with a useful life of 20 years and a $80,000 salvage value. Land Improvements 1 is valued at $540,000 and is expected to last another 18 years with no salvage value. The land is valued at $1,800,000. The company also incurs the following additional costs. Cost to demolish Building 1 $ 346,400 Cost of additional land grading 187,400 Cost to construct Building 3, having a useful life of 25 years and a $400,000 salvage value 2,242,000 Cost of new Land Improvements 2 having a 20-year useful life and no salvage value 168,000 2. Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January 1.
Business
1 answer:
Leviafan [203]2 years ago
8 0

Answer:

Land (Dr.) $1,800,000

Land Improvements $540,000

Building 2 $660,000

Building 1 demolish expense $346,400

Land grading expense $187,400

Building 3 construction cost $2,242,000

Land 2 improvement cost $168,000

Cash (Cr.) $22,143,800

Explanation:

Mitzu Co. has paid lump sum amount for 2 buildings and land. The building 1 has no value so its value is considered as zero and all the amount will be attributed to land and building 2. The company has also incurred costs for the demolish of building 1 which will be charged in the books of accounts as one off expense.

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select the correct answer. weight management is one benefit of participating in sports. which sentence is true regarding weight
aksik [14]

Regular participation in sports helps preserve muscle mass.

What is Weight Management ?

Weight management is the process of making long-term lifestyle changes to maintain a healthy body weight based on a person's age, gender, and height. Weight management techniques include maintaining a balanced diet and improving physical activity levels.

The overarching goals of weight loss and management are:

  • To avoid further weight gain. If prescribed, to lose weight.
  • To maintain a reduced body weight over time.
  • Specific targets can be set for each of these objectives.

Meal planning allows you to make healthier choices that are not driven by physical hunger. Plan home-cooked meals, with restaurant dining reserved for exceptional occasions. Packing low-calorie snacks such as fresh fruits, veggies, and whole grains will help regulate hunger throughout the day.

To know more about Weight Management

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Complete Question :-

Weight management is one benefit of participating in sports. Which sentence is true regarding weight management?

  1. To lose weight you must burn fewer calories than you consume.
  2. Regular participation in sports helps preserve muscle mass.
  3. You burn more calories when engaged in a sports activity that is less intense.
  4. Sports can help you control your weight regardless of your diet.
5 0
1 year ago
The following data were reported by a corporation: Authorized shares 24,000 Issued shares 19,000 Treasury shares 5,500 The numbe
Basile [38]

Answer:

13,500

Explanation:

Outstanding shares = issued shares - Treasury shares

19,000 - 5,500 = `13,500

Shares is a method through which firms raise capital.

Authorised shares are the maximum number of shares a company can issue to investors

Outstanding shares are the total number of shares sold to investors

Treasury shares are shares that have been issued and later repurchased by the company

Issued shares are the shares that a company issues

4 0
2 years ago
What is the problem with companies pursuing patents specifically to hinder, or prevent, competition?
Alekssandra [29.7K]

Answer:According to the article, when companies earn patents specifically to prevent competition, it hinders the innovation of products that might actually be better. For instance, Bruce Nolop describes how his company had to pay more attention to the "minefield of existing patents than on the expected value that we could bring to customers." Rosabeth Moss Kanter suggests a "use it or lose it" solution to this problem. She thinks that a company that patents an item would be forced to use the patented idea or product or risk losing the patent. This idea would encourage more competition and prevent patent abuse.

Explanation:

3 0
3 years ago
Which of the following would not be reported as current liabilities on the balance sheet?
olga55 [171]
D. Accounts receivable
6 0
1 year ago
The option of sticking with the current business lineup makes sense when
worty [1.4K]

Answer:

The correct answer is the option A: the company's present business offer attractive growth opportunities and can be counted on to create economic value for shareholders.

Explanation:

To begin with, the fact that a company faces the dilemma between continue with the current business lineup or change it in order to begin producing a new one by starting from zero then a lot of variables must be taken care of and considered, that is, that at the moment of making the final decision the managers must understand the opportunity costs that can affect the organization and moreover the benefits that the actual lineup makes. That is why, that at the time of sticking with the current business lineup it makes sense to continue with the current one when the company's present business offer attractive growth opportunities and can be counted on to create economic value for shareholders.

8 0
3 years ago
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