Answer:
$235,000
Explanation:
A company can capitalize the cost of assets, delivery cost, legal & documentation charge and any other directly attributable cost that is incurred to bring the asset in the condition as intended by management.
Therefore, cost of asset, title fee and building modification fee shall be added in the cost of asset as follows:
Cost of Asset 200,000
Lawyer and title fee 20,000
Building Accommodation <u> 15,000</u>
Total <u>235,000</u>
The person who receives financial protection from a life insurance plan is called a Beneficiary. The other side is the policy owner. he beneficiary is usually selected at the time of the policy inception by the owner of the contract.Beneficiary Order
, Beneficiary Changeability and Beneficiary Legal Type are the three types of Beneficiaries for Life Insurance.
Answer: $603,500
Explanation:
Ending inventory in 2014;
= Ending inventory balance 2013 + ((
* 100) - ending inventory 2013)) * Price index 2014/100
= 550,000 + ((
) - 550,000)) * 107/100
= $603,500
Answer:
C. strictly liable for Will's injuries
Explanation:
In law, Strict liability is a situation when defendant is required to be responsible to a certain situation, but can't be considered as guilty to any violation.
There are two points that need to be highlighted from the case above:
1. Astor Manufacturing process has fulfilled all of its safety regulation for storing the dangerous product.
2. The dangerous product owned by Astor Manufacturing caused William's injury.
The regulations for hazard management is created by the government, and the leak is not caused by their negligence. It's caused by unexpected natural disaster. This is why we can't say that Astor is guilty to any violation.
But still, the chemical that they created injured William. The court will most likely force Astor to be responsible for all the medical expenses incurred by william.
Answer:
Explanation:
The journal entry that would include is shown below:
Work in Progress inventory A/c Dr $125,000
Factory overhead A/c Dr $24,000
(Being labor cost is recorded)
The computation is shown below:
Work in progress = Labor expenses + whole labor expenses
=$88,000 + $37,000
= $125,000
The labor expenses are directly related to the product which means it is a direct cost
And, the whole labor expense is considered to be the overhead cost as it is not directly related to the product
And, the $24,000 is also considered as an overhead cost because it is used in both the departments so it is come under the factory overhead account
