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lana66690 [7]
2 years ago
6

Johnson borrowed $45,000 secured by land with a basis of $20,000. Johnson could not pay the principal, so the bank foreclosed an

d sold the land for $35,000 as full settlement of the debt. What income should Johnson recognize
Business
1 answer:
vredina [299]2 years ago
4 0

Answer:

the income that should be recognized is $25,000

Explanation:

The computation of the income that should Johson recognized is shown below:

Income To be recognized is

= Borrowings amount - Basis of land

= $45000 - $20000

= $25,000

hence, the income that should be recognized is $25,000

We simply applied the above formula so that the correct value could come

And, the same is to be considered

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A major purpose of a cost accounting system is to _____
True [87]

Answer:

Explanation:

The main objective of cost accounting are ascertainment of cost, fixation of selling price, proper recording and presentation of cost data to management for measuring efficiency and for cost control and cost reduction, ascertaining the profit of each activity, assisting management in decision making process.

plz mark as brainliest

8 0
2 years ago
XYZ corporation produced 300 units of output but sold only 275 of the units it produced. The average cost of production for each
Vilka [71]

Answer:

profit = - $3875

so correct option is a. -$3,875

Explanation:

given data

produced =  300 units

sold =  275 units

average cost of production = $100

each 275 units sold price = $95

to find out

Total profit

solution

we know that profit is express as

profit = total revenue - total cost ..................1

here total revenue = 275 × $95

total revenue =  $26125

and total cost = 300 × $100

total cost = $30000

so from equation 1

profit = total revenue - total cost

profit = $26125 - $30000

profit = - $3875

so correct option is a. -$3,875

6 0
2 years ago
is the element in the promotional mix that evaluates people’s attitudes, identifies issues that may elicit their concern, and ex
Mademuasel [1]

Answer:

Public Relations

Explanation:

Public relations refer to those marketing programs which are created so as to enhance the company's reputation and the quality of the products and services it deals in.

A public relations strategy tries to communicate, the launch of new products or services, increase people's interest in the firm's current offerings, positively influence particular target groups and most importantly enhance the firm's own reputation.

Public relations represent an essential promotional strategy. Under such a strategy, the firm assesses the attitudes and behavior of the prospective buyers, attempts to resolve their queries and concerns and come up with programs so as to gain their acceptance.

5 0
2 years ago
Given this information about activity : ES = 10, EF = 15, LS = 16, and LF = 21, we can determine that the amount of slack associ
Vlad [161]

Answer:

6

Explanation:

The following information are given about an activity

ES= 10

EF= 15

LS= 16

LF= 21

Therefore the amount of slack associated with the activity can be calculated as follows

SL= LS-ES

= 16-10

= 6

Hence, the amount of slack associated with the activity is 6

8 0
2 years ago
Toyota manufactures most of the vehicles it sells in the United Kingdom in Japan. The base platform for the Toyota Tundra truck
Tanzania [10]

Answer: 14.02%

Explanation:

Prices = ¥652,000

Exchange rates = ¥197/£

Change in exchange rate = ¥190/£

Original price of the Toyota tundra

= ¥652,000/197

= £3009.65.

Change in price

= ¥652,000/190

= £3431.58.

Percentage change in price of the imported trucks

= ( New price - Old price) / old price x 100

= £3431.58 - £3009.65 / £3009.65 X 100

= 421.93 / £3009.65 x 100

= 0.1402 x 100

= 14.02%

7 0
2 years ago
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