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Marysya12 [62]
3 years ago
7

On May 20, White Repan Service extended an offer of $108,000 for land that had been priced for sale at $140,000 On May 30 White

Repair Service accepted the sellers counteroffer
of $115.000. On June 20. the land was assessed at a value of $95 000 for property tax purposes On July 4 White Repair Service was offered S150.000 for the land by a national retail
chain At what value should the land be recorded in White Repair Service's records?
​
Business
1 answer:
Otrada [13]3 years ago
4 0

Answer:

$115.000.

Explanation:

As per the guidelines of the generally accepted accounting principles, assets should be recorded at their acquisition price. The value to be recorded is the price paid for the asset.

For White Repan Service, the amount they paid for the land was the counteroffer from the seller. White Repan Service paid $105,000 for the land. The value to be recorded should be $105,000.

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Ngai Nhung is the sales manager at Hung Technologies. At lunch with the company CEO, Ngai proudly announced that he had negotiat
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Ngai Nhung is the sales manager at Hung Technologies. At lunch with the company CEO, Ngai proudly announced that he had negotiated a <u>blanket purchase order</u> with a client that represented the customer's long-term commitment to buy components from Hung.

<u>Option: D</u>

<u>Explanation:</u>

Here Ngai announcement means that the firm's consumers with their suppliers are going to enable several distribution dates across a period of time, often structured to reap the benefits of fixed prices which showcase the long-term relation between firm and consumer, thus understood as a blanket purchase order.

It is basically utilized when expendable products are recurrently needed. Blanket orders are commonly used when a consumer purchases large amounts and receives special discounts. Calculating the predicted amount planned by the recipient of the commodity is the toughest part of getting an agreement.

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3 years ago
Atlantic Manufacturing Company uses process costing. All materials are added at the beginning of the process. The normal spoilag
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(a) The dollar value of abnormal spoilage.

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The complete solution of the problem is attached with an excel spreadsheet.

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3 0
3 years ago
The standard factory overhead rate is $7.50 per machine hour ($6.20 for variable factory overhead and $1.30 for fixed factory ov
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Answer:

$26,000 adverse variance

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Fixed Overheads Volume Variance = Budgeted Overheads at Actual Output - Budgeted Fixed Overheads

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                                                             = $26,000 adverse variance

The fixed factory overhead volume variance is $26,000 adverse variance

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The international agency that administers trade agreements, facilitates trade negotiations, and helps to resolve trade disputes,
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World Trade Organziation
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Answer:

im not 100% but think this is right

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