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kotegsom [21]
3 years ago
6

Urban outsiders has a building that originally cost $390,000. the company expects to be able to sell the facility for $258,000 a

t the end of its useful life. the balance of the related accumulated depreciation account is $113,000. the depreciable cost of the facility is:
Business
1 answer:
Nataly [62]3 years ago
7 0

The depreciable cost of Urban outsiders' facility is $1,32,000.

Depreciable cost refers to the quantum of an asset's value that will be written off as depreciation expense.

It is calculated as the difference between the original cost of the asset and the salvage value (Purchase price - Salvage Value).

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Salad Express exchanged land it had been holding for future plant expansion for a more suitable parcel of land along distributio
r-ruslan [8.4K]

Answer:

1.  $173,500

2. $ 71,000

Explanation:

Requirement 1: Solution

We can calculate the fair value of new parcel of land just by adding the current market price with additional cash paid to complete the transaction

Fair Value = Current market price + cash paid additionally

Fair Value = $150,000+$23,500

Fair value = $173,500

Requirement 2: Solution

We need to calculate Gain/loss on exchange first in order to record them on books. This can be done by just subtracting the land's book value from the current market price of land

Gain/loss on exchange = Current market price - book value

Gain/loss on exchange = $150,000 - $79,000

Gain/loss on exchange = $71,000

Entries:               Debit                          Credit  

New land           $173,500

Old land                                                 $79000

Cash                                                       $23,500

Gain                                                        $71,000

5 0
3 years ago
Often, it is difficult to name a home country for a(n) ________ business
velikii [3]
Small business is difficult in the economy because its self made

8 0
3 years ago
21. What are the benefits that may accrue to a community from busi
Ket [755]

Major benefits of business in the local economy include a boost in employment and discretionary income in the community, tax income increases for local governments and a loyal customer base for businesses.

4 0
3 years ago
Restaurant Brands International Inc. (RBI) describes itself as follows in its first Restaurant footnote: "We franchise and opera
Tasya [4]

Answer and Explanation:

Data provided

Depreciation = $185 million

The Journal entry is shown below:-

Depreciation expense  $185 million  

      To Accumulated depreciation $185 million

(Being depreciation expenses is recorded)

Here we debited depreciation expense as expenses are increasing whereas we credited the accumulated depreciation as the assets decreasing.

5 0
3 years ago
Lisa's opportunity cost rate is 10 percent compounded annually. How much must she deposit in an account today if she wants to re
Goryan [66]

Answer:

Present value = $21,804 (approx)

Explanation:

Given:

Periodic payment = $3,200

Number of period = 12

Interest rate = 10% = 10/100 = 0.1

Present value = ?

Computation of Present value:

Present\ value = PMT[\frac{1-(1+r)^{-n}}{r} ]\\\\Present\ value = 3,200[\frac{1-(1+0.1)^{-12}}{0.1} ]\\\\Present\ value = 3,200[\frac{1-(1.1)^{-12}}{0.1} ]\\\\Present\ value = 3,200[\frac{1-0.318630818}{0.1} ]\\\\Present\ value = 3,200[\frac{0.681369182}{0.1} ]\\\\Present\ value = 21,803.6188

Present value = $21,804 (approx)

8 0
3 years ago
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