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Alex_Xolod [135]
3 years ago
9

On July 1, 2021, Larkin Co. purchased a $460,000 tract of land that is intended to be the site of a new office complex. Larkin i

ncurred additional costs and realized salvage proceeds during 2021 as follows: Demolition of existing building on site $ 71,000 Legal and other fees to close escrow 12,900 Proceeds from sale of demolition scrap 8,600 What would be the balance in the land account as of December 31, 2021
Business
1 answer:
vova2212 [387]3 years ago
3 0

Answer:

$75,300

Explanation:

The computation of the balance in the land is shown below;

Purchase cost

$460,000

Add:

Demolition of existing building on site

$71,000

Add:

Legal and other fees to close escrow

$12,900

Less:

Proceeds from the sale of demolition scrap

($8,600)

Balance in the land

$75,300

Therefore, balance in the land account as of December 31, 2021 is $75,300

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Sheridan Company uses the periodic inventory system. For the current month, the beginning inventory consisted of 485 units that
Kipish [7]

Answer:

Value of closing inventory = $25771.04

Explanation:

To calculate the value of ending inventory under a periodic average cost method, we will calculate the average price per unit of inventory at the end of the month. To calculate the average price per unit, we simply divide the total cost of the inventory by the total number of units for the month.

Average cost per unit = Total cost of all units for the month / Total units available for the month

<u />

<u>Total cost of all units:</u>

Beginning inventory (485 * 66)            32010

Purchase 1     (725 * 69)                        50025

Purchase 2     (364 * 71)                    <u>    25844</u>

Total                                                       107879

<u>Total Units</u>

Beginning Inventory     485

Purchase 1                     725

Purchase 2                    <u>364</u>

Total                              1574

Average cost per unit =   107879 / 1574

Average cost per unit = $68.54

Units of closing inventory = 1574 - 1198     =   376 units

Value of closing inventory =  376 * 68.54

Value of closing inventory = $25771.04

6 0
3 years ago
Multinational enterprises (MNEs) have an impact far beyond their firm boundaries. Assume you are working for a small firm that s
In-s [12.5K]

Answer:

Multinational enterprises (MNEs)

Relationship Change as the MNE moves from Globalization 2.0 to Globalization 3.0 operations:

This move means that Indian and Chinese companies would be competing with my local small firm.  The MNE may be looking for cheaper prices for my company's products and services, which the Indian and Chinese companies would more efficiently supply it.  My firm may be on the precipice of liquidating if this MNE is our major customer.  My firm must move fast to become more competitive by differentiating our products and services with better quality and perhaps reduced production costs, to enable it compete more favorably with the Indian and Chinese competitors.  Otherwise, we may regard the relationship as nearing its end and prepare for other opportunities with other companies.

Explanation:

Globalization reduces national boundaries by integrating national economies into a globalized economy, thus enabling companies to compete globally for financial resources, goods, and services.  When Globalization 1.0 happened, countries were globalized and the world became a global village.  When Globalization 2.0 from which the G7 profited largely, companies were globalized.  With the current Globalization 3.0, individuals are being globalized, and the highest beneficiaries are Indian and Chinese nationals who appear better prepared to take on the world, garner most of the important resources to themselves, and call the shots from the boardrooms.  An example is Microsoft's current CEO, Satya Nadella, who is an Indian-American.

4 0
3 years ago
Mathematics for Business and Finance
Marina CMI [18]

Answer:

Explanation:

Apply first discount to original price

apply next discount to discounted price

etc

8 0
3 years ago
A worker received $5 for a daily wage in 1930, which has the equivalent value of $63.24 today. if the cpi was 17 in 1930 what is
Katyanochek1 [597]
17 which should equal 215.01 I think- sorry if I’m wrong
6 0
3 years ago
Samsung has products for each and every customer segment. This pertains to ________ targeting strategy. *
aleksklad [387]
The I believe the answer is undifferentiated marketing
6 0
3 years ago
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