Answer:
$513,110
Explanation:
The computation of the cost of the land is shown below:
= Purchase tract of land + demolished cost of old building - scrap of the building + title transfer cost + attorney fees + property taxes - amount covered the period
= $480,000 + $25,000 - $2,800 + $1,550 + $760 + $9,500 - $900
= $513,110
We simply applied the above formula
Answer:
b) Considered to be a direct variable cost
Explanation:
Direct costs are expenditures that can be traced to a specific product, project, or service. It is a cost component that arises due to the production of a particular good or service as opposed to a general expense. Direct costs contrast indirect cost that covers a variety of items, such as administration.
Variable costs are the expenses that change with production volume. An increase in production leads to an increase in variable costs. Variable costs, therefore, have a direct relationship with the output level.
Belts, in this case, are a direct variable cost because
- The belt expense is traceable directly to the production of cars. It is a cost incurred only when a car is being produced.
- The cost varies with the number of cars produced. The expenses will change with changes in the production of cars.
Answer: The correct answer is "a. the bulk of the public debt is owned by U.S. citizens and institutions.".
Explanation: To say that "the U.S. public debt is mostly held internally" is to say that:<u> the bulk of the public debt is owned by U.S. citizens and institutions.</u>
Answer: Option D
Explanation: In simple words, business services refers to the activities that supports the business but do not provide any kind of tangible commodity from them.
Accounting, marketing, insurance and education are some of the many examples of business services.
From the above we can conclude that the correct option is D.
Answer:
d. $920 increase liabilities, increase expenses
Explanation:
The journal entry is given below:
On March 31
Interest Expense Dr. $920 ($92,000 × 4% × 3 ÷ 12)
To Interest Payable $920
(being interest expense is recorded)
Here interest expense is debited as it increased the expense and credited the liabilities as it also increased the liabilities
Therefore the option d is correct
