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Semenov [28]
3 years ago
12

On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $40,000 in cash and giving a short-term n

ote for $306,000. Legal fees paid were $1,665, delinquent taxes assumed were $13,100, and fees paid to remove an old building from the land were $22,500. Materials salvaged from the demolition of the building were sold for $5,200. A contractor was paid $1,051,800 to construct a new warehouse.
Requried:
Determine the cost of the land to be reported on the balance sheet.
Business
1 answer:
Norma-Jean [14]3 years ago
3 0

Answer:

See below

Explanation:

The cost of land to be included in the balance sheet would not only include the price paid to acquire the land but also include cost or revenue received in the process while also include all activities required to bring the land to the stage in which it may be ready for usage.

With regards to the foregoing, the cost of land to be included in the balance is is

= Cash paid + short term note + legal fee + delinquent taxes + Fees paid to remove old building from the land - sales of materials salvaged from demolition of the building

= $40,000 + $306,000 + $1,665 + $13,100 + $22,500 - $5,200

= $378,065

Therefore, cost of land to be included in the balance sheet is $378,065

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Mooradian Corporation’s free cash flow during the just-ended year (t = 0) was $250 million, and its FCF is expected to grow at a
LenaWriter [7]

Answer:

the firm’s total corporate value is 3.500.000.000

Explanation:

Consider the following formula to calculate the corporate value of the firm

Firm Total Corporate Value =Free cash flow (T1) / Ke - G

= 250.000.000 ( 1+0.05)/12.5%-5%

= 3.500.000.000

7 0
3 years ago
When a product or service is delivered for which a customer advance has been previously received, the appropriate journal entry
tester [92]

Answer:

Explanation:

According to my research on different financial terminology, I can say that based on the information provided within the question the appropriate journal entry would include a debit to a liability and a credit to a revenue account. This must be included otherwise the journal entry will state the sale of the product or service as being made twice, which will cause errors in the financial statements.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

3 0
3 years ago
Due to a recession in the United States and abroad, ski resorts have suffered from a lack of guests during the peak season. Thes
BlackZzzverrR [31]

Answer:

D) economic.

Explanation:

These are seen to be factors which play vital roles in bringing/affects the competitiveness of the environment of operation of a said firm.

These forces in a business are said to primarily affect the distribution of production activities across the globe and also within a smaller region. These effects of economic forces are easily been felt by the mass/population around the region where these forces are present and also where these enterprises are been sited/located.

Factors ranging from interest rate, employment, inflation rate, government fiscal and monetary policy are generally known to make up these factors been talked about.

5 0
3 years ago
Which of the following is an example of a cost that varies in total as the number of units produced changes? a. property taxes o
fenix001 [56]

Answer:

b. direct materials cost

Explanation: The cost of production of a product is determined by the sum of different factors needed for the production, these factors include direct and indirect labor force cost, amortized costs of the machinery and supplies. the depreciation of the machinery on factory equipment depends on the lifetime of the machinery, not in the daily use of the same equipment. in that case, it does not vary according to the units produced.

The property taxes on factory buildings are applied to the total properties belonged by the company, it is not affected by the production levels.

The salary of a production supervisor is a constant cost that does not change per the production level, in this specific case, the supervisor is nor being paid per unit, so the payment will be the same every month.

In the case of direct materials cost, as the company is producing more products it is necessary to increase the supplies used for the specific product, as an example if you want to produce 20 dolls you will need 20 toy heads, but if you want to produce 50 dolls you will need 50 toy heads; in this case the cost of the materials varies according to the units that the company wants to produce

7 0
3 years ago
Read 2 more answers
Which term describes the cost to replace property minus the deduction for depreciation?
Natasha_Volkova [10]

Answer:

The correct answer is b) Actual cash value.

Explanation:

Insurance industry’s ACV is define as "the cost to replace with new property of like kind and quality, less depreciation. Courts have varied in their rulings as to whether or not depreciation includes obsolescence (loss of usefulness as a result of outmoded design, construction, etc.)."

5 0
3 years ago
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