Cost of Land:Purchase price for land: 264,000Purchase price for old building : 159,000Demolition cost for old building: 32,000Cost to fill and level lot: 47,304Total cost of Land: 502,304
Cost of new building and Land improvementCost of new building: 1,232,100Cost of land improvements: 77,774Total construction cost: 1,309,874
Land (Debit 502,304)Land improvement (Debit 77,774)Building (Debit 1,232,100)Cash (Credit 1,812,178)
Answer:
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Explanation:
Answer:
b.112.3 days
Explanation:
The computation of the number of days' sales in inventory for the year is shown below:
Day inventory outstanding = {(Beginning inventory + ending inventory) ÷ 2}÷ cost of goods sold × number of days in a year
= {($200,000 + $140,000) ÷ 2} ÷ ($552,500) × 365 days
= ($170,000) ÷ ($552,500) × 365 days
= 112.3 days
Answer:
A) giving the key to a safe-deposit box where the gift is kept
Explanation:
- A Constructive delivery possession is that acquisition when here a symbolic transfer of property. The constructive distribution of the possession is basically a right that the property is not actually managed
- But the donor has done something to convey the possession, but the property is of such a nature that physical possession is then not possible, the creative possession of the property is sufficient to carry out the act of gift.
Answer:
a. current tax rate or future tax rates, depending on when the temporary difference will reverse.
Explanation:
Deferred Tax is not payable to tax Authority it is only a book entry used by Accountants to match Income taxes payable in terms of Income Act and Income taxes expected to be presented to users in financial Statements.
Deferred taxes are based on current tax rate or future tax rates, depending on when the temporary difference will reverse.
