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3 years ago

Betty made a 20% profit on a residential lot she sold for $30,000. What did she pay for the property

Business

1 answer:

Ludmilka [50]3 years ago

3 0

Answer: $25000

Explanation:

From the question, we are informed that Betty made a 20% profit on a residential lot she sold for $30,000. Let the cost price of the property be represented by x.

Therefore, (100% + 20%) of x = $30000. This means that 120% of x = $30000.

120% × x = $30000

1.2x = $30000

x = $30000/1.2

x = $25000

Therefore, the amount paid for the property is $25000

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3 years ago

Halbur Company reported the following for its recent year of operation: From the income statement: Depreciation expense $ 1,200

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Answer:

$300

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3 years ago

University Printers has two service departments Maintenance and Personnel and two operating departments Printing and Developing.

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Answer:

Machine hour percentages -Allocation of Maintenance Costs

455 + 455 + 2,590 = 3,500 total machine hrs

Personnel = 455 / 3,500 = 13%

Printing = 455 / 3,500 = 13%

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Labor hr. percentages--Allocation of Personnel costs

315 + 294 + 1,491 = 2,100 total labor hrs.

Maintenance = 315 / 2,100 = 15%

Printing = 294 / 2,100 = 14%

Developing = 1,491 / 2,100 = 71%

Service

Maintenance Personnel Printing Developing

Costs before allocation 11,000 23,000 25,000 23,000

Allocate maintenance costs -11,000 1,430 1,430 8,140

0 24,430

Allocate personnel costs 3664.5 -24430 3420.2 17345.3

Allocate maintenance costs -3664.5 476.39 476.39 2711.73

Allocate personnel costs 71.46 -476.39 66.69 338.24

Allocate maintenance costs -71.46 9.29 9.29 52.88

Allocate personnel costs 1.39 -9.29 1.3006 6.5959

Allocate maintenance costs -1.39 0 0 1.39

Total costs 0.00 0.00 30403.87 51596.13

Workings

Allocate maintenance costs

Personnel = (11000 * 13%) = 1430

Printing = (11000 * 13%) = 1430

Developing = (11000 * 74%) = 8140

Allocate personnel costs

Maintenance = 24430 * 15% =

Printing = (24430 * 14%) =

Developing = (24430 * 71%) =

Allocate maintenance costs

Personnel = (3664.5 * 13%)

Printing = (3664.5 * 13%)

Developing = (3664.5 * 74%)

Allocate personnel costs

Maintenance = (476.39 * 15%)

Printing = (476.39 * 14%)

Developing = (476.39 * 71%)

Allocate maintenance costs

Personnel = (71.46 * 13%)

Printing = (71.46 * 13%)

Developing = (71.46 * 74%)

Allocate personnel costs

Maintenance= (9.29 * 15%)

Printing = (9.29 * 14%)

Developing = (9.29 * 71%)

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3 years ago