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vichka [17]
2 years ago
9

Question 3 of 10

Business
1 answer:
Inessa05 [86]2 years ago
6 0

Answer:

C. Just managers. I hope this helps

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Geo Co. purchased a building for $400,000. In addition, Geo paid $35,000 for taxes and lawyer fees. Geo also paid $60,000 to mod
ycow [4]

Answer: $495,000 User “Parrain” is the person who solved this question

Explanation: ALL costs that went into the DIRECT acquisition of the asset as well as COSTS TO SET IT UP for use by the firm should be accounted for in the amount recorded. In this case that would mean that the cost price, the closing fees and the modification fees all need to be accounted in the final amount. That would be $400,000 + $35,000 + $60,000= $495,000$495,000 should be recorded as the building's cost.

4 0
2 years ago
Salt Foods purchases forty $1,000, 7%, 10-year bonds issued by Pretzelmania, Inc., for $37,282 on January 1. The market interest
alexira [117]

Answer and Explanation:

The journal entries are shown below;

a. Investment Dr $37,282

      To Cash $37,282

(being the investment in bonds is recorded)

b.

Cash (($1,000 × $40) × 0.07 × 6 ÷ 12) $1,400

Investment  $91

   To interest revenue ($37,282 ×8% × 6 ÷ 12) $1,491

(Being the first interest payment is recorded)

5 0
2 years ago
Martinez Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods have a sales price of $
Artemon [7]

Answer:

Martinez Company

a) Journal Entries

Jan. 2, 2020:

Debit Accounts Receivable (Danone Inc.) $630,000

Credit Cash Discounts $9,100

Credit Sales Revenue $639,100

To record the sale of goods on account,  with trade terms, 5 days $9,100, net 30.

Debit Cost of goods sold $480,000

Credit Inventory $480,000

To record the cost of goods sold.

Jan. 28, 2020:

Debit Cash $639,100

Credit Accounts Receivable (Danone Inc.) $630,000

Credit Cash Discounts $9,100

To record the full receipt of cash on account and the revision of the cash discounts not taken.

Explanation:

a) Data and Analysis:

Jan. 2, 2020:

Accounts Receivable $630,000 Cash Discounts $9,100 Sales Revenue $639,100, terms, 5 days $9,100, net 30.

Cost of goods sold $480,000 Inventory $480,000

Jan. 28, 2020:

Cash $639,100 Accounts Receivable $630,000 Cash Discounts $9,100

7 0
3 years ago
Guy​ Ferrell, a student who lives in the country​ Paragon, observes that analysts are cutting their growth forecasts for the eco
Rama09 [41]

The correct answer to this open question is the following.

The statement, if​ true, that would explain the​ analysts' predictions would be "the Producer Price Index has been steadily increasing over the past few months."

That is what would have been the factor that supports the forecast. Although inflation has been constant at low levels, what changed was the Producer Price Index that is moving up. This factor could modify the results despite inflation is stable at this moment. When inflation is high, it directly affects the price of goods and the consumer.

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3 years ago
When you are communicating with someone from another culture you should _______.
s344n2d4d5 [400]

Answer:

maintain etiquette or speak slowly

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3 years ago
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