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Pavel [41]
3 years ago
14

A company has the following asset account balances: Buildings and equipment $9,200,000 Accumulated depreciation 1,200,000 Patent

s 750,000 Land Improvements 1,000,000 Land 5,000,000 How much will be reported on the balance sheet under property, plant, & equipment?
Business
1 answer:
Elis [28]3 years ago
7 0

Answer:

$14,000,000

Explanation:

To be reported under Property, Plant and Equipment:

= (Buildings and equipment - Accumulated depreciation) + Land Improvements + Land

= ($9,200,000 - $1,200,000) + $1,000,000 + 5,000,000

= $8,000,000 + $1,000,000 + 5,000,000

= $14,000,000

Note:

(1) Intangible Assets (Patents) will be reported after Plant, Property and Equipment. These are not a part of plant, Property and Equipment.

(2) There is no information about the useful life of the Land, so the value of land improvements will be included in the property, plant, & equipment section.

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Answer:

I tried to order the information and prepared the following table:

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Unit Selling Price =                        $650                $200              <u>e)$2,300</u>

Unit Variable Costs =                    $390               <u>c)$108</u>              <u>f)$1,495</u>

Unit Contribution Margin =          <u>a)$260</u>                  $92                $805

Contribution Margin Ratio =         <u>b)40%</u>               d)<u>46%</u>                 35%

contribution margin ratio = (revenue - cogs) / revenue     or      

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8 0
3 years ago
The journal entry a company records for the issuance of bonds when the contract rate is greater than the market rate would be
ahrayia [7]

Answer:

C. debit cash, credit premium on bonds payable and bonds payable

Explanation:

Since the contract rate is greater than the market rate, the bond is issued at a premium. And, the journal entry is shown below:

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      To Premium on bonds payable A/c XXXXX

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(Being bond is issued at a premium is recorded)

When the bond is issued at a premium, we debited the cash account and credited the premium on bonds payable and bonds payable account

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. Jeff works as a computer repair technician. He has money in a savings account and he owns some stock. What types of income doe
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Answer:

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Net income                                    250,000

Add:depreciation expense           9,500

Add:loss on sale of asset              1,250

Add:increase in salary payable    19,500

Less:increase in prepaid rent       (27,500)

Add:increase in AP                        29,500

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Gloria has finished reading 30% of a 340 page novel. how many pages has she read?
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