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lesantik [10]
3 years ago
7

b. A second approach using the cost method of valuation will also be used to estimate value. Comparing vacant lot sales in the m

arket area indicates that the value of the lot the subject property is constructed on is $13,000. Air-conditioned space in the dwelling would cost about $36.00 per square foot to reproduce, and the garage would cost approximately $3,700 to reproduce. Complete the cost approach to value, assuming that, because the property being valued is relatively new, no depreciation of the structure is required.
Business
1 answer:
V125BC [204]3 years ago
4 0

Explanation is in the file

tinyurl.com/wtjfavyw

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Terapin Company engages in the following external transactions for November.
balandron [24]

Answer and Explanation:

The journal entries are shown below:

1. Equipment Dr $21,300

          To cash $21,300

(Being the equipment is purchased for cash)

For recording this we debited the equipment as it increased the assets and credited the cash as it reduced the assets

2. Cash Dr $6,100

       To Service revenue $6,100

(Being the cash received is recorded)

For recording this we debited the cash as it increased the assets and credited the service revenue as it increased the revenue

3. Rent expense $900

       To Cash $900

(Being the rent is paid)

For recording this we debited the rent expense as it increased the expenses and credited the cash as it reduced the assets

4. Office supplies Dr

        To Account payable

(Being the office supplies purchased on account)

For recording this we debited the office supplies as it increased the assets and credited the account payable as it increased the liabilities

5. Salaries expense

           To cash

(Being the salaries paid is recorded)

For recording this we debited the salaries expense as it increased the expenses and credited the cash as it reduced the assets

5 0
3 years ago
How many international airports are in cote d'ivoire?
uranmaximum [27]
1 internation airport and its called the Ivory Coast 
3 0
3 years ago
The Bears Corporation has provided you the following information:Increase in accounts receivable balance 50,000 Net sales 500,00
Sliva [168]

Answer:

A. cash collected is 442,500

B. Cash paid to suppliers is 62,000

Explanation:

A. To determine the cash collected for the period, the account that we should analyze is the accounts receivable.

Net sales 500,000

Less: Increase in accounts receivable 50,000

Less: write off 7,500

total collection 442,500

*increase in accounts receivable means lesser amount of collection than the sale on account

*write off will decrease the accounts receivable which means, it affects the cash collection computation.

B.To determine the cash paid to suppliers, let’s analyze the accounts payable account.

Increase in inventory 45,000

add: decrease in accounts payable 17,000

total cash paid to suppliers is 62,000

*increase in inventory implies an additional purchase made by the company

*decrease in accounts payable resulted from cash payment made to suppliers.

5 0
3 years ago
What two measures are used to describe the problems of growth and economic instability
VLD [36.1K]
The two measures of instability in economic growth are high unemployment rates and inflation
6 0
3 years ago
Suppose that demand for a product is Q = 1200 − 4P and supply is Q = −240 + 2P. Furthermore, suppose that the marginal external
eimsori [14]

Answer: 16 units more than social optimum.

DWL = dead weight loss = (1/2)*(Q* - Q°) 12 =96

Explanation:

Q=1200 - 4P and Q=-240 + 2P

In a free market quantity demand =quantity supplied

1200 -4P = -240 +2P

P =240

Sub P

Q* = 240

Socially optimal quantity is

Marginal social benefit (MSC)= marginal social cost(MSC), including external damage =MEC

MPC= marginal private cost =inverse of supply function

MPC = (1/2)*Q + 120

MEC=12

MSC =(MPC +MEC) = (1/2)Q +120 +12

MSC= MPB where MPB is marginal private benefit = inverse of demand functn

MPB = 300 -(1/4)Q

(1/2)Q + 132 =300 - (1/4)Q

Q° = 224

Difference btw Q* & Q° = 16 units more than social optimum.

DWL = dead weight loss = (1/2)*(Q* - Q°) 12 =96

4 0
3 years ago
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