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likoan [24]
2 years ago
13

A company acquired an office building on three acres of land for a lump-sum price of $3,150,000. The building was completely equ

ipped. According to independent appraisals, the fair values were $1,680,000, $2,800,000, and $1,120,000 for the building, land, and equipment, respectively. At what amount would the company record the building
Business
1 answer:
Furkat [3]2 years ago
6 0

Answer:

$1,680,000

Explanation:

Based on the information given we were told that the fair value of the building was the amount of $1,680,000 which means that the amount that the company would record the building is the fair value amount of $1,680,000.

Therefore the amount that the company would record the building is $1,680,000.

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Kennedy, Inc. reported the following data:
Degger [83]

Answer:

The cash flows from operating activities section of the statement of cash flows using the indirect method is $172,475.

Explanation:

Kennedy, Inc.

Statement of cash flows (extract)

Net income                                                 $179,562

Add: Depreciation expense                            15,511

        Loss on disposal of equipment             11,046

Less: Gain on sale of building                      (21,801)

         Increase in accounts receivable         (8,734)

         Decrease in accounts payable            (3,109)

Cash flows from operating activities     $172,475

4 0
3 years ago
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Neko [114]

Answer:

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Explanation:

7 0
2 years ago
Your mom needs to borrow grocery money from you to feed you and your eight brothers and sisters. You agree to lend her the money
Marina86 [1]

Answer:

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5 0
3 years ago
What is the difference between net worth and worth​
notka56 [123]

Answer:

I found this off of google, "People often get caught up in how much income they earn. This is because income is the primary source of creating wealth for individuals. ... Net worth is the value of all assets minus all liabilities at a given point in time."

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7 0
2 years ago
Under which market structure does a firm have negligible influence over product pricing? A. perfect competition B. monopoly C. o
Kobotan [32]

Answer: E. command economy

A command economy is an economy where the government decides what goods and services need to produced, the quantity to be produced and the price at which the products are to be sold. Hence a frim has no say in pricing its products.

The government is also the deciding factor with respect to the allocation of resources for investment and fixes incomes. A command economy is also known as a planned economy. North Korea and Cuba are examples of countries that have a command economy.


6 0
3 years ago
Read 2 more answers
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