Traditional savings account typical minimum balance

Rodriguez Company pays $363,285 for real estate with land, land improvements, and a building. Land is appraised at $198,000; lan

Irina18 [472]

Answer:

1.Land $163,478

Land Improvement $54,493

Building $145,314

2.Dr Land $163,478

Dr r Land Improvement $54,493

Dr Building $145,314

Cr Cash $363,285

Explanation:

1. Calculation to Allocate the total cost among the three assets

First step is to Add up all expenditure costs Total Expenditure costs =$198,000+$66,000+$176,000

Total Expenditure costs =$440,000

Second step is to divide each expenditure up by the total amount

Land=($198,000/$440,000= 0.45)

Land improvement=($66,000/$440,000= 0.15)

Building=($176,000/$440,000= 0.40)

Now let Allocate the total cost among the three assets

Land=0.45* $363,285

Land = $163,478

Land improvement=0.15*$363,285

Land Improvement=$54,493

Building=0.40*$363,285

Building=$145,314

Total $363,285

($163,478+$54,493+$145,314)

Therefore the total allocation cost among the three assets is:

Land $163,478

Land Improvement $54,493

Building $145,314

2. Preparation of the journal entry to record the purchase

Dr Land $163,478

Dr r Land Improvement $54,493

Dr Building $145,314

Cr Cash $363,285

(To record purchase)

3 0

3 years ago

Which of the following segments of PESTEL analysis includes elements such as tax policies and changes in trade restrictions and

slavikrds [6]

Answer:

A. Political

Explanation:

PESTEL analysis is an instrument used to analyze and monitor the macro economic environmental factors than can have an effect on the organization.

PESTEL is an acronym for

P - Political

E - Economic

S - Social

T - Technology

E - Environmental

L - Legal

Political Factor - This is all about the role government plays in the economy. This can include – government policy, political stability or instability in overseas markets, foreign trade policy, tax policy, labour law, environmental law, trade restrictions etc.

Studying this would enable organizations respond better to current trends and prepare better for future legislations.

8 0

3 years ago

Which type of account typically has low liquidity?

il63 [147K]

Option (d) is the correct option.

Certificate of deposit has low liquidity because the money can be withdrawn after the maturity period. It cannot be converted to cash immediately.

Further Explanation:

Liquidity:

Liquidity is a measurement of an asset’s ability to convert it into cash. If any specific asset can be converted into cash quickly, then it is considered a liquid asset.

Example: Stock, Debtors, Marketable securities are liquid assets as they can be converted into cash very quickly. On the other hand, land and building are not liquid assets as they would require a longer time to convert into cash.

Low liquidity account:

Certificate of deposit is a low liquidity account.

Certificate of deposit:

Certificate of deposit is a saving account. In certificate of deposit, the customer of the bank deposits lump-sum amount in the bank account, and it can be withdrawn after a specified time. Certificate of deposit has a higher interest rate than a normal saving account. Generally, the tenure of the certificate of deposit varies from 1 year to 10 years. The customer of the bank cannot withdraw the funds before the maturity date of the deposit.

Certificate of deposit has lower liquidity because the funds cannot be withdrawn before the maturity date of the deposits. Once deposited, the funds can be converted to cash after the maturity period, which varies from 1 year to 10 years as per the agreement with the customer.

Certificate of deposit has low liquidity because the money can be withdrawn after the maturity period. It cannot be converted to cash immediately

Checking account, savings account, and money market account has high liquidity as money can be readily withdrawn from these accounts.

Learn more:

1. Learn more about cash budget

brainly.com/question/12985585

2. Learn more about the role of money

brainly.com/question/12984919

3. Learn more about the cash deficiency

brainly.com/question/12981857

Answer details:

Grade: Senior School

Subject: Business Studies

Chapter: Money and Banking

Keywords: Account, Bank account, Bank, Liquidity, High liquidity, Low liquidity, Saving account, Checking account, Money market account, Certificate of deposit, Converted to cash.

3 0

3 years ago

Read 2 more answers

Malcolm Figueroa is a sales employee of Carefree Pools and Spas, Inc. During 2017, he was issued a company car with a fair marke

nlexa [21]

Answer:

Check the explanation

Explanation:

As per publication 15-b Of employers tax guide fringe benefits provides you how to use lease value rules and when to use , The following question is answered according to it

Employee Name : Malcolm Figueroa

Annual Lease Method :

1 Fair market value of vehicle 35000

2 Annual lease value : 9250

3 Prorated Annual lease percentage 3600 / 22000 = 16.3636%

4 Prorated Annual lease Value: Annual lease value * Prorated Annual lease percentage = $

9250 * 16.3636% = 1513.633$

5 iF FUEL PROVIDED BY EMPLOYER ENTER MILE 3600 * 5.5cents = 198$

Total fuel charges = 198$

6 Total personal Use Taxable income 1513.633 + 198 = $1711.633

Kindly check the attached image below to see the well arranged accounting entry above.

First we will find the annual lease value from table given by using fmv of automobile i.e for 35000 its 9250

Now we will Multiple annual lease value by % of personal driven by employee

which is calculated by 3600/22000*100= 16.3636%

9250*16.3636%= 1513.633

So this the personal usage vehicle which will be added = $1513.633

And we will add the fuel cost to this amount which is = 3600*5.5cents= $198

total personal use taxable = $1711.633

3 0

3 years ago

Read 2 more answers

Which of the following statements about business speaking skills is most accurate?

vagabundo [1.1K]

Answer: Option A

Explanation: In simple words, business communication skills refers to the ability of the individuals ,working in a business organisation, to convey important information to another in an efficiency and effective manner.

The information transfer takes place at all stages and therefore every employee of the organisation must possess business speaking skills.

6 0

3 years ago