Answer: $132,000
Explanation:
Oscar's new basis on the building will be the basis of the old building plus any additional investment he added.
This is the because there is no gain on the $140,000 he received because it was an Involuntary Conversion amount and he reinvested it into another building within a period of 2 years.
As there is no gain, the building will retain it's original basis but will add any amount outside the involuntary replacement cost of the building.
The Additional basis will be,
= Cost of building - Insurance
= 142,000 - 140,000
= $2,000
The Basis for the new building is,
= 130,000 + 2,000
= $132,000
Formula: Finished Goods Inventory Beginning - Sales in units + Produced units= Ending Inventory
3000-12000+14000= 5000 Ending finished goods inventory in units
-ahnnahly
Answer:
It would decrease the net assets by $60,800
Explanation:
The computation of the translation adjustment for 2017 is shown below:
For common stock
= Issued amount × (revised exchange rate - exchange rate)
= $1,000,000 × (0.42 - 0.48)
= -$60,000
For dividend
= Dividend paid × (revised exchange rate - exchange rate)
= $20,000 × (0.42 - 0.46)
= -$800
For net income
= Net income × (revised exchange rate - exchange rate)
= $80,000 × (0.42 - 0.42)
= $0
So, it would decrease the net assets by $60,800 ($60,000 + $800)
Answer:
goods (like foods or necessities)
Explanation:
Answer:
$5.5= actual price
Explanation:
Giving the following information:
Managers expected to pay $5 per kilogram.
Each unit produced should take 2 kilograms; actual total usage was 2,100 kilograms.
The company produced 950 units.
The direct materials spending variance is $1,050 (unfavorable).
To calculate the actual price per kilogram, we need to use the direct material spending variance.
Direct material price variance= (standard price - actual price)*actual quantity
-1,050= (5 - actual price)*2,100
-0.5= 5 - actual price
5.5= actual price
