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dusya [7]
3 years ago
9

On October 31, 20X5, West Company received a condemnation award of $450,000 as compensation for the forced sale of a warehouse.

On this date the warehouse, including the land on which it was situated, had a book value of $275,000. During December 20X5, West purchased a parcel of land for a new warehouse site at a cost of $125,000. West should report on its income statement for the year ended December 31, 20X5, a gain on condemnation of property of
Business
1 answer:
Luba_88 [7]3 years ago
6 0

Answer:

$175,000

Explanation:

Calculation to determine West should report on its income statement for the year ended December 31, 20X5, a gain on condemnation of property of

Using this formula

Gain on condemnation=Compensation for the forced sale-Book value

Let plug in the formula

Gain on condemnation=$450,000-$275,000

Gain on condemnation=$175,000

Therefore what should report on its income statement for the year ended December 31, 20X5, a gain on condemnation of property of $175,000

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You have a team of four employees. Liam, the financial analyst, is from Ireland, and he knows everything there is to know about
kifflom [539]

Answer: 1. Acceptance Theory to Authority

2. All of the Above.

Explanation:

1. Acceptance Theory to Authority

According to Chester Barnard's concept of Acceptance Theory of Authority, people respond more to in an Organisation to a strong leader whose authority they accept. The main premise here is that the leader's authority has to be accepted and people only usually respect strong leaders. A weaker leader will not be able to bring the team together because the employees will not listen to them as much as they should because they have not accepted their authority.

2. According to Mary Parker Follett, all the above options are correct for initiation in this scenario.

Mary Parker Follett came up Principles of Coordination to help companies better themselves. Some of the principles she came up with cover the options.

A. This has to do with the Reciprocal Relationship Principle of Coordination. Mary Follet argued that there must be a reciprocal relationship at work because people work together. This means that should you start to work harder, it will influence Andry and Majorie to work harder as well.

B. Falls under the Principle of Direct Contact.

According to this principle, Heads of Department should meet and discuss their problems since they are closer to the situation on the ground. Destiny and Majorie should therefore meet and discuss a way forward.

C. Falls under the Early Stages section of Coordination.

Here Mary Follett believed that managers should not unilaterally come up with strategy but rather consult the members of their team and talk to them so that they understand why something must be done.

D. Also falls under the Early Stages section.

Mary also believed that as well as consulting your team to come up with strategy, that strategy needs to be aligned to the goals of the organizations. By discussing with employees before a strategy is implemented, you make sure that they understand it as well and they will then know if or not they are able to perform and voice any objections they may have.

6 0
4 years ago
the balance in the prepaid rent account before adjustment at the end of the year is $32,000, which represents four months' rent
timama [110]

Debit Rent Expense is $8,000 whereas the credit Prepaid Rent is $8,000 of the above given accounting equation .

What is Deferred revenue ?

Money received for goods or services but not yet earned is referred to in accrual accounting as deferred income (also known as deferred revenue, unearned revenue, or unearned income). The revenue recognition principle states that it is recorded as a liability up to the time of delivery, at which point it is changed to revenue.

For instance, a business might get an annual software license payment on January 1 from a client who paid it in full. The business' fiscal year, nevertheless, concludes on May 31. Therefore, the business adopting accrual accounting only includes the fee in its revenues for the fiscal year it received the money, or five months' worth (5/12), of the fee. On the balance sheet for that year, the remaining amount is added to deferred income (liability).

To learn more about Revenue checkout the link below :

brainly.com/question/16232387

#SPJ9

5 0
2 years ago
You find a fossil, and through careful study you find that only one-sixteenth of the carbon-14 that it once contained is still r
Sonja [21]

Answer:

The answer is: A) 4 × 5,700 years = 22,800 years

Explanation:

Each half-life of Carbon-14 is approximately 5,700 years.

The amounts of Carbon-14 remaining in a specimen sample are:

  • After one half life only half of the original Carbon-14 amount remains.
  • After two half lives only one fourth of the original Carbon-14 amount remains.
  • After three half lives only one eight of the original Carbon-14 amount remains.
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Since only one sixteenth of the original Carbon-14 remained, we can conclude that the fossil is four half lives old.

All we do now is multiply 4 x 5,700 years (half life of Carbon-14) = 22,800 years

8 0
4 years ago
The total amount of financial assets, minus any debts, is referred to as?
kiruha [24]
The answer is Net Assets. The total assets minus the total liabilities or debts are defined as Net Assets. Net Assets could be defined in different ways. For example, in a corporation the net assets are reported as the stockholders equity. Some even refer the net assets as wealth.
4 0
3 years ago
The Shirt Works sells a large variety of tee shirts and sweatshirts. Steve Hooper, the owner, is thinking of expanding his sales
Veronika [31]

Answer:

$9 profit are made per unit sales.

650 unit sales should be made.

Explanation:

STEP1: What will be Hooper's profit in selling one sweatshirt.

Profit = selling price - cost price

Cost price includes all the expenses done.

Profit = $34 - ($8 + $17) = $9

Therefore Hooper will have $9 as profit if one student sales one sweatshirt.

STEP2: The Quantity of sweatshirt that Hooper needs to purchase in order to achieve his profit target.

Since he Target $5,850.

Therefore:

$5,850 ÷ $9 = 650 sweatshirt

Therefore;

If Hooper sales the sweatshirt at $34 per unit, he will achieve $9 as profit. And if he chooses to achieve $5,850 as profit, he has to place a one time order for 650 sweatshirt, that may arrive in batches.

3 0
3 years ago
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