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Anna007 [38]
2 years ago
15

A company purchased a building for $850,000 on January 1, 2010. As of December 31, 2014, $200,000 of accumulated depreciation ha

d been recorded related to this building. The building was sold to another party for $1,250,000 on January 1, 2015. On the sale of this building, the company should recognize:_______
a. A gain of $650,000
b. A loss of $650,000
c. A gain of $600,000
d. A loss of $600,000
Business
1 answer:
AVprozaik [17]2 years ago
3 0

Answer:

On the sale of this building, the company should recognize:_______

c. A gain of $600,000

Explanation:

a) Data and Calculations:

The cost for the Purchase of building on January 1, 2010 = $850,000

Accumulated depreciation as of December 31, 2014 =           200,000

Book value of building as of December 31, 2014 =               $650,000

Sale proceeds on January 1, 2015 =                                    $1,250,000

Gain from the sale of the building =                                      $600,000

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Stels [109]

Answer:

The correct answer is the option B: This employee should be granted access based on his current and past roles only after being formally reviewed for his effectiveness in the company.

Explanation:

To begin with, if the employee has past through several positions before then he must understand quite a bit how the company works in its whole and moreover that employee must be trusted due to the fact of the times that he was promoted and therefore that he must have granted access based on his current and past roles but only after being formally reviewed because of the fact of ensuring the effectiveness of the employee.

4 0
3 years ago
Leslie Manufacturing reported the following:Revenue $450,000Beginning inventory of direct materials, January 1, 2015 20,000Purch
Bogdan [553]

Answer:

$109,000

Explanation:

The accounting equation for the cost of goods sold

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In a manufacturing firm, purchases are also referred to as manufacturing costs.

For Leslie manufacturing:

beginning finished inventory =$40,000

costs of goods manufactured = $ 144,000

Ending finished inventory = $ 45,000

cost of  manufacturing for the period:

=$40,000 +$114,000- $45,000

=$109,000

5 0
3 years ago
50 PTS!!!!!!!!!!!!
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6 0
3 years ago
Read 2 more answers
When a partnership is liquidated, how is the final distribution of partnership cash made to the partners?
velikii [3]

According to the profit and loss the partnership is liquidated, and the final distribution of partnership cash is made to the partners.

When a partnership is liquidated, how is the final distribution of partnership cash made to the partners? Which of the subsequent statements is actually concerning the accounting for a partnership going via liquidation? within a liquidation, all gains and losses are divided equally among some of the partners.

The partnership comes to a decision to liquidate, the property of the partnership is sold, liabilities are paid off, and any remaining coins are sent to the companions according to their capital account balances.

Liquidating distributions (coins or noncash) are a form of a return of capital. Any liquidating distribution you receive isn't always taxable to you until you recover the basis of your inventory. After the idea of your stock is reduced to zero, you ought to document the liquidating distribution as a capital advantage.

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4 0
2 years ago
Assume you save 25% of each additional dollar of income. Congress decides to increase government spending by $100. How much will
Archy [21]

Answer:

The amount by which each additional dollar of government spending increase output (Y) is 4.

Explanation:

Since you save 25% of each additional dollar of income, we therefore have:

MPS = Marginal propensity to save = 25%, or 0.25

Multiplier = 1 / MPS = 1 / 0.25 = 4

The multiplier is the amount by which each additional dollar of government spending will increase output (Y).

Therefore, the amount by which each additional dollar of government spending will increase output (Y) is 4.

Additional note:

This is not part of the requirement of the question but it is just for you to learn from.

Since we have:

Increase in government spending = $100

Therefore, we have:

Increase in output (Y) = Multiplier * Increase in government spending = 4 * $100 = $400

3 0
3 years ago
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