1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alekssandra [29.7K]
3 years ago
11

Chico Company paid $950,000 for a basket purchase that included office furniture, a building and land. An appraiser provided the

following estimates of the market values of the assets if they had been purchased separately: Office furniture, $190,000; Building, $740,000; and Land, $132,000. Based on this information, what is the cost that should be allocated to the office furniture
Business
1 answer:
kramer3 years ago
6 0

Answer:

$171,000

Explanation:

The company psid $950,000 for office furniture, building and land

The market value of the assets is

Office furniture= $190,000

Building= $740,000

Land= $132,000

Therefore the cost that should be allocated to the office furniture can be calculated as follows

= 18/100 × 950,000

= 0.18×950,000

= 171,000

You might be interested in
Matulis, Inc., a calendar year C corporation, owns a single asset with a basis of $325,000 and a fair market value of $800,000.
Talja [164]

Answer:

$99,750

Explanation:

Matulis's taxes are = (asset's fair market value - asset's basis) x corporate tax rate = ($800,000 - $325,000) x 21% = $475,000 x 21% = $99,750

Since the C corporation is turning into a S corporation it must recognize the gain on holding the asset. The Tax Cuts and Jobs Act set the corporate tax rate at 21%.

3 0
3 years ago
Perdue found that one of its chicken products may have been contaminated with bacteria, so it pulled it off the shelves and inst
aleksandr82 [10.1K]

Answer:

1. Product

Explanation:

Perdue finding out that one of its chicken products may have been contaminated with bacteria, pulled it off the shelves and instituted a recall.

Hence, this potential ethical issue is associated with product marketing mix because Perdue was very much concerned about the quality level, safety and reliability of his chicken products. This simply means, Perdue is much more interested in producing and selling highly uncontaminated products to it's customers.

A product marketing mix is focused mainly on the products, reason Perdue pulled the chicken products off the shelves and instituted a recall.

This would help to boost confidence among their customers to use more of their products in the future and by extension their market share.

7 0
3 years ago
Grace Owen formed a corporation with three of her friends for purposes of operating a catering company. Grace used her own check
andrezito [222]

Answer:

Grace is incorrect because of the veil and alter ego theory

Explanation:

In this scenario Grace formed a corporation along with her three friends. As a result of catering services offered guest became ill and sued Grace and the other owners for damages.

According to the alter egos theory personal liability can be invoked on the owners of a corporation or its limited liability members.

Alter ego theory is used to penetrate the corporate veil that protects shareholders. Personal liability can be assigned on the business owner as it is in this case against Grace and the other owners.

7 0
3 years ago
Do you think Instagram’s main goal is to connect you with friends and family or brands? Why?
loris [4]
I think it’s a platform that helps all people connect with their family but you can also use it for business purposes
6 0
3 years ago
The City of Crescent Hill operates a central motor pool as an internal service fund for the benefit of the city's other funds an
aliya0001 [1]

Answer:

C. Expenditures

Explanation:

Based on the information provided within the question it can be said that the Parks Department should use an expenditures account to record these billings. Expenditures refers to the action of spending funds to purchase goods or services on behalf of the company. Such purchases can include vehicle rentals like what was billed for the Parks Department.

4 0
3 years ago
Other questions:
  • Which non-verbal facial expression is not recognized worldwide?
    12·2 answers
  • Cost-benefit analysis is a process that involves which of the following?
    15·1 answer
  • If the money supply is growing at a rate of 3 percent per​ year, real GDP​ (real output) is growing at a rate of 3 percent per​
    10·1 answer
  • Xanat is grief-stricken after the death of her mother. Consequently, her productivity at work is suffering. Humberto, her superv
    13·1 answer
  • Rona and stiv do business as treasure island traders. in a deal with unlimited potential, inc., rona makes a bid in competition
    5·1 answer
  • If inflation in the United States is 4% per year and in the United Kingdom it is 8% per year, and interest rate in the United Ki
    10·2 answers
  • When a firm produces one more unit of output the total revenue increases from $838 to $973, and the total cost increases from $5
    12·1 answer
  • What is the typical relationship between time and interest rate
    11·1 answer
  • A food worker suspects there are mice in the food establishment.
    15·2 answers
  • As a high school student, which of the three error types would you be most concerned about? Why?
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!