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Aleks [24]
3 years ago
10

A building with an appraisal value of $129,668 is made available at an offer price of $158,618. The purchaser acquires the prope

rty for $36,973 in cash, a 90-day note payable for $24,989, and a mortgage amounting to $56,481. The cost basis recorded in the buyer's accounting records to recognize this purchase is
Business
1 answer:
Ira Lisetskai [31]3 years ago
5 0

Answer:

$118,443

Explanation:

Calculation to determine what the cost basis recorded in the buyer's accounting records to recognize this purchase is

Using this formula

Cost Basis= Cash + Note payable + Mortgage amount

Let plug in the formula

Cost Basis= $36,973 + $24,989 + $56,481

Cost Basis= $118,443

Therefore the cost basis recorded in the buyer's accounting records to recognize this purchase is

$118,443

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Zephyros Corporation had estimated manufacturing overhead costs for the coming year to be $ 306 comma 000 . The total estimated
chubhunter [2.5K]

Answer:

Estimated manufacturing overhead rate= $38.25 per direct labor hour

Explanation:

Giving the following information:

Zephyros Corporation had estimated manufacturing overhead costs for the coming year to be $306,000. The total estimated direct labor hours for the coming year are 8,000

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 306,000/8,000= $38.25 per direct labor hour

5 0
3 years ago
Timothy McGreggor, Attorney, P.C., began the year with total assets of $129,000, liabilities of $77,000, and stockholders’ equit
Ahat [919]

Answer:

Ending stockholders' equity $ 68.000

Explanation:

The net income for the year is Revenue - Expenses

so $ 113,000 - $34,000     =   Net Income $ 79,000

Stockholders Equity at end of year

Opening stockholders' equity                 $  52,000

Add: Net income for the year                  $  79,000

Less: Dividends Paid                                <u>$ (63,000)</u>

Ending stockholders' equity                    $  68,000

7 0
3 years ago
Duk Yu, a beverage company, buys its raw materials from Nessange, a fruits and vegetables exporting company, without making any
laila [671]

Answer:

Trade credit

Explanation:

Trade credit is a financial tool which buyer is allowed by supplier to buy now and pay later. Payment date is pre-decided. It is generally used for financing on short term basis.

5 0
3 years ago
George consumes two goods, milk and cookies. He has maximized his utility given his income. Milk costs $2 per gallon and he cons
olga nikolaevna [1]

Answer:

George buys 5 bags of cookies each month

Explanation:

Given

Milk = \$2 (per gallon)

Marginal\ Utility\ (milk) = 4

Cookies = \$4 (per bag)

Required

Determine the number of bags of cookies he buys

First, we need to determine the marginal utility of cookies

To solve this, we make use of the following formula:

\frac{MU\ of\ Milk}{Cost\ of\ Milk} = \frac{MU\ of\ Cookies}{Cost\ of\ Cookies}

Substitute values for

<em>MU of Milk = 4</em>

<em>Cost of Milk = 2</em>

<em>Cost of Cookies = 4</em>

<em />

This gives:

\frac{4}{2} = \frac{MU\ of\ Cookies}{2}

2 = \frac{MU\ of\ Cookies}{2}

MU\ of\ Cookies = 2 * 2

MU\ of\ Cookies = 4

From the given table:

The corresponding bags of cookies for marginal utility of 4 is 5

Hence:

George buys 5 bags

8 0
3 years ago
Tyron is saving up money for a down payment on a motorcycle. He currently has $5648, but knows he can get a loan at a lower inte
Scilla [17]

Answer:

monthly  time  = 1.966

Explanation:

given data

final amount = $6355

initial principal = $5648

rate = 6 %

solution

we get here time by this formula

amount = principal × (1+r)^{t}    ............1

put here value and we get time t

6355 = 5648 × (1+\frac{0.06}{12})^{12\times t}    

1.125 = (1.005)^{12\times t}  

take ln both side

ln 1.125 = ln  (1.005)^{12\times t}  

0.1177 = 12 × t × 4.9875 × 10^{-3}  

monthly  time  = 1.966

4 0
4 years ago
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