subject
Business, 16.04.2020 19:24 mle531588

Made a lump-sum purchase from a contractor at a total cash price of $1,800,000 for a building, land, land improvement, and five trucks. The estimated market values of the assets are building (12-year life, $120,000 salvage value), $890,000; land, $427,200; land improvement (10-year life), $249,200; and five trucks (5-year life,, no salvage value), $213,600. The company's fiscal year ends on December 31.Prepare a table to allocate the lump-sum purchase price to the separate assets purchased (round percents to the nearest 1%). Prepare the journal entry to record the purchase.

ansver
Answers: 3

Other questions on the subject: Business

image
Business, 21.06.2019 13:30, madpanda55
Which of the following is a primary concern of top managers? a)supervising nonmanagerial employees b)deciding which goods a company should produce c)supervising first-line managers d)developing and fine-tuning employee skills e)training, motivating, and rewarding salespeople.
Answers: 2
image
Business, 22.06.2019 01:30, BaileyRyan8320
In the fall, jay thompson decided to live in a university dormitory. he signed a dorm contract under which he was obligated to pay the room rent for the full college year. one clause stated that if he moved out during the year, he could sell his dorm contract to another student who would move into the dormitory as his replacement. the dorm cost was $5000 for the two semesters, which jay had already paid a month after he moved into the dorm, he decided he would prefer to live in an apartment. that week, after some searching for a replacement to fulfill his dorm contract, jay had two offers. one student offered to move in immediately and to pay jay $300 per month for the eight remaining months of the school year. a second student offered to move in the second semester and pay $2500 to jay. jay estimates his food cost per month is $500 if he lives in the dorm and $450 if he lives in an apartment with three other students. his share of the apartment rent and utilities will be $404 per month. assume each semester is 4.5 months long. disregard the small differences in the timing of the disbursements or receipts. what is the cost of the cheapest alternative?
Answers: 1
image
Business, 22.06.2019 04:30, stressedmolly8387
Georgia's gross pay was 35,600 this year she is to pay a federal income tax of 16% how much should georgia pay in federal income ax this year
Answers: 1
image
Business, 22.06.2019 16:50, taylorb9893
According to ceo heidi ganahl, camp bow wow requires a strong and consistent corporate culture to keep all local franchise owners "on the same page" and to follow a common template for the business and brand. this culture could become detrimental over time because: (a) strong consistent cultures are inflexible and incapable of adapting to environmental change (b) strong consistent cultures are too flexible and capable of adapting to environmental change (c) strong consistent cultures don’t perform well in any environment (d) the passing of time provides stability and predictability for businesses
Answers: 2
You know the right answer?
Made a lump-sum purchase from a contractor at a total cash price of $1,800,000 for a building, land,...

Questions in other subjects:

Konu
Mathematics, 25.01.2021 21:50