Where is the smallest pizza in Los Angeles located?

On January 1, 2020, the balance sheet of Naperville Company (a sole proprietorship) was as follows.

guapka [62]

Answer:

Explanation:

From the information povided:

(a) To compute the amount of goodwill paid by Chicago Corporation

Particulars Amount ($)

Accounts Receivable 100000

Inventory 170000

Plant & Equipment 400000

Land 90000

Customer List 4000

Trade Names 16000

NET ASSETS (A) 780000

Current liabilities 76000

Non-current liabilities 160000

NET LIABILITIES (B) 236000

∴

PURCHASE CONSIDERATION (A -B) 544000

Less: Cash Paid 580000

GODWILL 36000

b)

In the books of Chicago Corporation, the Journal Entry to record the purchase of Naperville Company.

Account Name Dr. Cr.

Accounts Receivable A/C 100000

Inventory A/C 170000

Plant Equipment A/C 400000

Land A/C 90000

Customer List A/C 4000

Trade Names A/C 16000

Goodwill A/C 36000

Current liabilities A/C 76000

Non-Current Liabilities A/C 160000

Cash A/C 580000

c)

The minimum required amount of goodwill that Chicago can amortize by the end of 2020 is $3600.This is because the amortization can take place for a period of 10 years.

8 0

3 years ago

Hache Corporation uses the weighted-average method in its process costing system. Data concerning the first processing departmen

Greeley [361]

Answer:

The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: d) $21,797

Explanation:

Calculation of Equivalent Units of Production

Materials

Units transferred to the next department (5,800 × 100%) = 5,800

Units in ending Work In process (1,850 × 50%) = 925

Total Equivalent Units of Production for Materials = 6,725

Conversion

Units transferred to the next department (5,800 × 100%) = 5,800

Units in ending Work In process (1,850 × 20%) = 370

Total Equivalent Units of Production for Conversion Costs = 6,170

Calculation of Cost per Equivalent units of Production

Materials

Cost per equivalent unit = Total Material Cost ÷ Total Equivalent Units of Production for Materials

= ($ 8,700 + $ 91,000) ÷ 6,725

= $14.825

Cost per equivalent unit = Total Material Cost ÷ Total Equivalent Units of Production for Materials

= ($ 8,500 + $ 126,300) ÷ 6,170

= $21.848

Calculation of cost of ending work in process inventory

Materials ( 925 × $14.825) = $13,713.12

Conversion Cost ( 370 × $21.848) = $8,083.76

Total = $21,796.88

Thus,

The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: d) $21,797.

5 0

3 years ago

If Inga Ingerton's property, valued at $35,000, is assessed at 40% of its value, and the mill levy is 8.3%, then what is Inga's

Eddi Din [679]

Inga Ingerton's assets price = $35,000, ; Assessed fee = 40% = 0.forty, ; mill levy rate = 83, ; Inga's annual tax on belongings = $14,000 x zero.083.

Annual taxes are generally designed to price for a mixture of interest or repute of a person for a tax yr. A tax year usually is much like a calendar year however it is able to additionally be a 12-month duration whenever a central authority corporation wants to control a given annual tax. Annual taxes are not limited to one level of government.

In a nutshell, to estimate taxable earnings, we take gross income and subtract tax deductions. what's left is taxable profits. Then we practice the ideal tax bracket (based totally on earnings and filing popularity) to calculate tax legal responsibility.

The costs observe in taxable profits—adjusted gross income minus both the usual deduction or allowable itemized deductions. profits as much as the same old deduction (or itemized deductions) is for that reason taxed at a 0 price. Federal profits tax quotes are progressive: As taxable income will increase, it's far taxed at better fees.

Learn more about annual tax here: brainly.com/question/26316390

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5 0

2 years ago

Suppose the economy starts off producing Natural Real GDP. Next, aggregate supply rises, ceteris paribus. As a result, the price

lord [1]

Answer:

The price level will be equal to what it was before there was a rise in the aggregate supply.

Explanation:

In economics, natural gross domestic product (Natural Real GDP) can be described as the maximum level of real GDP that can be sustained by an economy over the long term. The Natural Real GDP is also known as the potential output.

From the question, since the economy has moved back to producing Natural Real GDP which is the maximum real GDP sustainable, the price level will be equal to what it was before there was a rise in the aggregate supply.

Therefore, the price level will be equal to what it was before there was a rise in the aggregate supply.

8 0

3 years ago

A cost associated with renting would be:

attashe74 [19]

The correct answer is C. title insurance

5 0

4 years ago