Answer:
Land 407,000
Building 750,000
Land improvements 77,000
The company will depreicate the buildign and the land improvements
But, not the land as it doesn't suffer from the past of time.
<u>Questions:</u>
Value of the assets
and which assets will the company depreciate.
Explanation:
The demolition of the old buildign should be considered cost of the period. As no asset is improved or acquire for that event.
<u>Land:</u>
80,000 cash
320,000 note payable
3,000 deliquient property tax
<u> 4,000</u> insurance costing
407,000 total land
<u>Building:</u>
cost: 750,000
<u>Land Improvements:</u>
fence 55,000
sing at entrance 15,000
lighthing <u> 7,000 </u>
TOTAL 77,000
Answer:
Terrace Corporation
Equivalent Unit
% D.Material % Conversion
Completed transferred 57,600 100% 57,600 100% 57,600
to drying
Ending Inventory of WIP 7,200 100% 7,200 60% 4,320
Total 64,800 64,800 61,920
Note:
Ending Inventory of Wip = Opening WIP Inventory + Added(Started) - Transferred out = 3,600 + 61,200 - 57,600 = 7,200 pounds
Answer:
The answer is D) $1,119.45
Explanation:
Summary of pay-rate per hour of AI is as followed:
- Normal working-time at warehouse: $12.75
- Normal working-time at QA: 12.75 x 1.15 = $14.66
- Overtime at warehouse: 12.75 x 1.5 = $19.125
During the two-week pay period, AI has work 84 hours ( 72 +12), in which overtime working is 4 hours ( 84 - 40 x 2) at warehouse.
Thus, total payment to Al is as followed:
Payment from 68 working-hour at warehouse in normal working time + Payment from 12 working-hour at warehouse in normal working time + Payment from 4 working-hour at warehouse in overtime working = 68 x 12.75 + 12 x 14.66 + 4 x 19.125 = $1,119.45
Answer:
d. Adjustment data are assembled and analyzed.
h. Closing entries are journalized and posted to the ledger.
Explanation:
The fourth step is missing which is to adjust the data. After the unadjusted trial balance is prepared, if the debit side and the credit side do not match, the data will need to be adjusted and that is what this step is for.
The penultimate step is also missing being the journalizing of the closing entries and posting them to the ledger. This is done to close out the accounts for the year and bring all accounts except permanent ones to zero.