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Advocard [28]
2 years ago
15

Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase price, Samtech made the following

expenditures in connection with the purchase of the land and building:
Title insurance $22,000
Legal fees for drawing the contract 8,000
Pro-rated property taxes for the period after acquisition 42,000
State transfer fees 4,600

An independent appraisal estimated the fair values of the land and building, if purchased separately, at $4 and $1 million, respectively. Shortly after acquisition, Samtech spent $88,000 to construct a parking lot and $46,000 for landscaping.

Required:
a. Determine the initial valuation of each asset Samtech acquired in these transactions.
b. Determine the initial valuation of each asset, assuming that immediately after acquisition, Samtech demolished the building. Demolition costs were $310,000 and the salvaged materials were sold for $9,000. In addition, Samtech spent $85,000 clearing and grading the land in preparation for the construction of a new building.
Business
1 answer:
kumpel [21]2 years ago
6 0

Answer: LAND                                 3.227,680

              BUILDING                              806,920

              LAND IMPROVEM                 134,000

Explanation:

Land 4 0.8 $       3.227,680  

Building 1  0.2 $          806,920  

               5  $       4.034,600

Land Improvement    

Parking Lot $         88,000    

Lanscaping $         46,000    

Total  $        134,000

Computation Of Cost Of Land And Building  

Purchase Price  $       4.000,000  

Add:      

Title Insurance Cost  $             22,000  

Legal Fees                  $                8,000  

State Transfer Fees  $                4,600  

Demolition of old building $            310,000  

Land Clearing Expenses $             85,000  

Less: Salvage Material  $              -9,000  

Total Cost Of Land  $      4.420,600    

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3 years ago
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8 0
1 year ago
has a monthly target operating income of $ 15 comma 000. Variable expenses are 70​% of​ sales, and monthly fixed expenses are $
seraphim [82]

Answer:

Margin of safety=55.6%

Explanation:

The formula for the operating income is as folows;

operating income=Sales revenue-total cost

where;

operating income=$ 15,000

Sales revenue=S

total cost=variable cost+fixed cost

variable cost=70% of S=(70/100)×S=0.7 S

fixed cost=$12,000

replacing;

15,000=S-(0.7 S+12,000)

15,000+12,000=0.3 S

27,000=0.3 S

S=27,000/0.3

S=Answer:

Explanation:

The formula for the operating income is as follows;

operating income=Sales revenue-total cost

where;

operating income=$ 15,000

Sales revenue=S

total cost=variable cost+fixed cost

variable cost=70% of S=(70/100)×S=0.7 S

fixed cost=$12,000

replacing;

15,000=S-(0.7 S+12,000)

15,000+12,000=0.3 S

27,000=0.3 S

S=27,000/0.3

S=$90,000

Current sales=$90,000

The formula for margin of safety is as follows;

Margin of safety=(Current sales level-break even point sales level)/current sales levels

At break even,

Operating income=0

0=S-(0.7 S+12,000)

0=S-0.7 S-12,000

0.3 S=12,000

S=12,000/0.3

S=40,000

Break even sales=$40,000

replacing;

Margin of safety=((90,000-40,000)/90,000}×100

Margin of safety=55.6%

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3 years ago
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Answer:

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The financial analysis aims to obtain conclusions about the future of the development of the company's activity, on which it is based on all the information presented in the financial statement and requires an analytical ability.

The need for this information ensures that the financial statements are made, since with the financial statements, the financial situation, results of operations and changes in the company's situation are expressed.

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2 years ago
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