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3 years ago

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Flounder Inc. purchased land, building, and equipment from Laguna Corporation for a cash payment of $434,700. The estimated fair

values of the assets are land $82,800, building $303,600, and equipment $110,400. At what amounts should each of the three assets be recorded?

1 answer:

Shtirlitz [24]3 years ago

6 0

Answer:

ok

I thinks it's ok because it's ok you get me

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Which among the 4 common errors that leads to unbalanced account is the EASIEST to resolve. Explain Why.

NISA [10]

The common errors that leads to unbalanced account and are the easiest to resolve includes the <em>error of </em><em>Omission, Commission</em>. <em>Original Entry and Duplication</em><em>.</em>

In accounting, there are different type of error that could result to the unbalanced account, that is, leaving the Trial balance or Balance sheet unbalanced.

Generally, the recognized type of errors in accounting includes:

<em>Error of Original Entry</em>
<em>Error of Duplication</em>
<em>Error of Omission</em>
<em>Error of Entry Reversal</em>
<em>Error of Principle </em>
<em>Error of Commission</em>
<em>Transposition Errors</em>
<em>Rounding Errors </em><em>etc</em>

In conclusion, the common errors that leads to unbalanced account and are the easiest to resolve includes the <em>error of </em><em>Omission, Commission</em>. <em>Original Entry and Duplication</em><em> </em>because they are easy to correct.

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3 years ago

You are hurt in a car accident and your lawyer wins a $100,000 settlement to be distributed as follows: $20,000 immediate paymen

Orlov [11]

Answer:

The value of the settlement is $ 62,604.06

Explanation:

The value of the settlement is the present values of all cash flows less lawyer's fees of $10000

In discounting the cash flows, I used the Present Value formula,which is:

PV=FV/(1+r)^n

FV =future value,amount receivable at each point time

r=rate of return=6%

n is the applicable number of years to each future value amount, for instance the $30000 last payment is receivable in the eleventh year,hence n is 11 years

The settlement value is the figure in the excel spreadsheet attached.

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3 years ago

Which plan meets luca’s desire for federal loan payments under $200 for the first few years

hoa [83]

The use of extended repayment plan is one that will allow Luca to make repayment for the federal loan payments under $200 for the first few years.

<h3>What is an extended repayment plan?</h3>

This repayment plan of loan allows student to repay back their loans over an extended period of time.

This repayment plan gives an option of repayment for up from 10 years up to 25 years.

In general, the extended repayment plan is useful here because it lowers monthly payments.

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2 years ago

Read 2 more answers

You are the decision maker for purchasing office equipment in your organization. One sales representative privately offers you s

Tatiana [17]

Answer:

c

Explanation:

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3 years ago

Larkspur, Inc. reported net cash provided by operating activities of $380,000, net cash used by investing activities of $154,700

Nonamiya [84]

Answer:

The correct option is D, cannot be determined from information provided

Explanation:

The cash used(provided) by financing activities is the difference between the cash provided by financing activities of $84,400 and the amount of dividends paid to stockholders which is $128,500.=$44,100.

The amount calculated above is not one of the options available, hence it is very safe to say that the correct option is that cash provided(used) by financing activities cannot be determined from the information provided.

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3 years ago