Answer:
wait I really don't understand what this question is
Answer:
Land $434,696
Land improvements $108,609
Building $1,720,600
To Cash $2,263,905
(Being the amount paid in cash is recorded)
Explanation:
The journal entry is shown below:
Land $434,696
Land improvements $108,609
Building $1,720,600
To Cash $2,263,905
(Being the amount paid in cash is recorded)
The land, land improvements and the building increases the assets so it is debited while the cash is credited as the cash is paid
The computation of the land is shown below:
= Purchase price of the land + purchase price for the old building + paid amount for tear down the old building + cost to fill and level the lot
= $224,000 + $119,000 + $37,000 + $54,696
= $434,696
Answer:
contribution margin ratio= 0.86
Explanation:
Giving the following information:
Young Company budgets sales of $970,000
Variable costs of $135,800.
<u>To calculate the contribution margin ratio, we need to use the following formula:</u>
contribution margin ratio= contribution margin / sales
contribution margin ratio= (970,000 - 135,800) / 970,000
contribution margin ratio= 0.86
