Answer:
$679,700
Explanation:
I believe Mickelson is the person preparing the books for Indigo Inc.
This question tests your knowledge of revaluation and its application to financial statements. It indirectly checks your knowledge of depreciation also.
A quick definition of terms would make it clearer.
Depreciation is the systematic allocation of the price of an asset over its useful life. That is once an asset (non-current) is purchased, it cannot be used up immediately in one financial year, hence accountants usually want to spread the use of the asset and match it with whatever revenue they get from the use of the asset (an application of prudence concept).
But land does not depreciate, rather it appreciates over time. Due to the fact that land appreciates over time, it would be misrepresentation on the part of Mickelson to report the value of the asset in December 2017 at the price in which the land was purchased in 2000.
Because land appreciates over time, a revaluation is more appropriate. this revaluation compares the carrying value of the land with the fair value on the land as at the date of revaluation (comparing $418,200 with $679,700) and the higher is used.
Hence to faithfully represent the current details of the status of the land, the IFRS (International Financial Reporting Standards) states that the entity should record the value of land at fair value.
I hope this is clear and easy to understand.
Other concepts you might want to check out are;
depreciation
carrying amount
revaluation surplus
fair value
The answer for this question is: multicast distribution
In multicast<span> distribution, the company will provide the shortest path to the network so the client could receive the data packet more efficiently.
This model will prevent lagging/buffering that will somehow damage the experience of watching a live sports events.</span>
Answer:
$68.11 per hour
Explanation:
Labor productivity is measured as total output value per labor hour, or how much money (total units produced x unit price) is produced during each labor hour.
Flagstaff has 8 workers and each one has worked 45 hours during the first week of March = 8 x 45 = 360 total labor hours
total output during the first week of March was worth = (52 second garments x $100 per unit) + (92 flawless garments x $210 per unit) = $5,200 + $19,320 = $24,520
labor productivity = $24,520 / 360 hours = $68.11 per hour
Fees charged to customers for account maintenance :)
Answer:
$90,000; $18,000; $37,500; $34,500
Explanation:
Total contribution to GDP:
= Number of bicycles produces × Selling price of each
= 300 × $300
= $90,000
Value added by Firm T is calculated as follows:
= value of tires sold to Firm B
= Selling price of each tire × No. of tires produced
= $30 × 600
= $18,000
Value added by Firm F is calculated as follows:
= Value of bicycle frames sold to Firm B
= Selling price of each bicycle frame × No. of bicycle frames produced
= $125 × 300
= $37,500
Value added by Firm B:
= Value of bicycles sold to consumers - Cost of purchasing tires from Firm T - Cost of purchasing bicycle frames
= ($300 × 300) - $18,000 - $37,500
= $90,000 - $18,000 - $37,500
= $34,500
