Answer:
Option (c) is correct.
Explanation:
Gross profit on sale :
= (Land value - Basis) ÷ Land value
= (300,000 - 250,000) ÷ 300,000
= 0.1667
= 16.67%
Therefore,
Gain recognized in
:
Year 1 :
= Cash received × Gross profit percent
= 150,000 × 16.67%
= 25,000
Year 2 :
= Note value× Gross profit percent
= 150,000 × 16.67%
= 25,000
Answer:
a)
Cost Item Direct Direct Manufacturing Period
materials labor overhead costs
Rent on $11,000
factory equip.
Insurance on $1,500
factory building
Raw $75,000
materials
Utility costs $900
for factory
Supplies for $300
general office
Wages for $58,000
assembly line
Dep. on office $800
equip.
Miscellaneous $1,100
materials
Factory manager's $5,700
salary
Property taxes $400
on factory building
Advertising $14,000
for helmets
Sales $10,000
commissions
Dep. on factory $1,500
building
TOTAL $75,000 $58,000 $22,100 $25,100
b) the cost to produce one helmet = total manufacturing costs / total output = ($75,000 + $58,000 + $22,100) / 10,000 helmets = $15.51
Answer:
<h2>The answer, in this case, would be option be option c. or they are developed instantly,naturally, and are immediately compatible.</h2>
Explanation:
- Team mental models basically reflect how team work can be applied to conduct any particular function or task involving multiple number of people or groups.
- In this regard, the models suggest a common understanding, mindset,thought process,planning and co-ordination among the concerned team members to carry out any specific task or function.
- The models can be assessed based on the accuracy level of task or function performed and on the respective social and physical mechanisms on how a performing group or team might operate.
- However, the to develop the common characteristics and understanding among the group or team members require considerable time to develop and cannot be immediate or instant as it requires time for the respective team members to understand the mindset and modes of operation of each other.
Answer:
B. Interest Expense 9,900 120 Premium on Bonds Payable Cash 10,020
Explanation:
Based on the information given the correct journal entry to record the first interest payment will be:
Dr Interest Expense 9,900
($180,000 × 11% × 6/12 = $9900)
Dr Premium on Bonds Payable120
(10,020-9,900)
Cr Cash 10,020
($167,000 × 12% × 6/12 = 10,020)
(Being to record first interest payment)
Answer:
$14620 is collected as tax for a property of $860,000
Explanation:
Let the tax rate on every property in Tacoma be x%. A property worth $430,000 was taxed $7,310. This implies that:
multiplying through by 100 we get:
Dividing through by 430000 to get:
x = 1.7%
Therefore the tax rate in Tacoma is 1.7%.
Since all tax rate is proportional, for a property of $430,000 the tax is $7,310, for a property of $860,000 let the tax be $y
Therefore 
This means that $14620 is collected as tax for a property of $860,000
