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lord [1]
3 years ago
13

The economic burden of a tax:

Business
1 answer:
Olenka [21]3 years ago
3 0

Answer:

a

............!!?!!?

You might be interested in
Crane Company purchased land as a factory site for $1300000. Crane paid $110000 to tear down two buildings on the land. Salvage
Marizza181 [45]

Answer:

a. $‭1,420,000‬

b.  $‭4,514,800‬

Explanation:

When it comes to fixed assets, all costs that directly helped make the asset available for use are to be capitalized.

Cost of Land

= Purchase Value + Cost Incurred to Tear Down 2 Buildings + Legal Fees + Title Insurance Cost + Assessment Cost - Salvage

= 1,300,000 + 110,000 + 5,000 + 3,500 + 9,500 - 8,000

= $‭1,420,000‬

Cost of Building

= Architect's Fees + Liability Insurance Cost + Excavation Cost + Contractor's Payment + Interest Cost

= 46,000 + 3,800 + 15,000 + 4,200,000 + 250,000

= $‭4,514,800‬

4 0
3 years ago
Kingston Company purchased a piece of equipment on January 1, 2015. The equipment cost $200,000 and had an estimated life of 8 y
DaniilM [7]

Answer:

Annual depreciation= $32,812.5

Explanation:

Giving the following information:

The equipment cost $200,000 and had an estimated life of 8 years and a salvage value of $25,000.

<u>To calculate the annual depreciation expense, we need to use the following formula:</u>

Annual depreciation= 2*[(book value)/estimated life (years)]

2015:

Annual depreciation= 2*[(200,000 - 25,000) / 8]

Annual depreciation= $43,750

2016:

Annual depreciation= 2*[(175,000 - 43,750) / 8]

Annual depreciation= $32,812.5

3 0
3 years ago
Task 2: Record the listed transactions of Nikea Inc. for the first quarter (January to March) in
gavmur [86]

Answer and Explanation:

The journal entries are shown below:

a. Cash Dr $20,000

     To Capital $20,000

(being the issuance of the capital stock is recorded)

b. Rent Dr $5,000

      To cash $5,000

(being the rent paid is recorded)

c. Supplies dr $1,500

       To Account payable $1,500

(being the supplies purchased on account is recorded)

d. Account payable Dr $1,000

     To cash $1,000

(being the amount paid is recorded)

e. Cash Dr $25,000

       To sales commission $25,000

(being the sales commission earned is recorded)

f. Automobile expense $4,500

     To Cash $4,500

(being cash paid is recorded)

g. Office salaries Dr $8,000

      To cash $8,000

(being cash paid is recorded)

h Supplies expense $1,500

    To supplies  $1,500

(being supplies expense is recorded)

g. Dividend payable $1,500

     To Cash $1,500

(being dividend paid is recorded)

3 0
2 years ago
Accumulated depreciation shows a beginning balance of $9,300 and an ending balance of $10,700. How much depreciation expense was
faust18 [17]

Answer:

$1400

Explanation:

Accumulated depreciation is the total depreciation of an asset and is recorded on the balance sheet while the depreciation expense is recorded on the income statement as an expense.

The depreciation expense is the difference between the accumulated depreciation at the end and the accumulated depreciation at the beginning. It is given as:

Depreciation expense = accumulated depreciation at the end - accumulated depreciation at the beginning = $10700 - $9300 = $1400

Depreciation expense = $1400

6 0
3 years ago
You want to see how raising your client's target cost-per-acquisition (cpa) might affect his ad performance. which tool could he
inna [77]
That would be a "target CPA simulator"
7 0
3 years ago
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