Business, 24.06.2019 20:50 Cosio

Timberly construction negotiates a lump-sum purchase of several assets from a company that is going out of business. the purchase is completed on january 1, 2016, at a total cash price of $850,000 for a building, land, land improvements, and four vehicles. the estimated market values of the assets are building, $498,200; land, $300,800; land improvements, $37,600; and four vehicles, $103,400. the company’s fiscal year ends on december 31. required: 1.1 prepare a table to allocate the lump-sum purchase price to the separate assets purchased

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 20:40

Balances for each of the following accounts appear in an adjusted trial balance. identify each as an asset, liability, revenue, or expense. 1. accounts receivable 2. equipment 3. fees earned 4. insurance expense 5. prepaid advertising 6. prepaid rent 7. rent revenue 8. salary expense 9. salary payable 10. supplies 11. supplies expense 12. unearned rent

Answers: 3

Answer

Business, 22.06.2019 07:10

mark, a civil engineer, entered into a contract with david. as per the contract, mark agreed to design and build a house for david for a specified fee. mark provided david with an estimation of the total cost and the contract was mutually agreed upon. however, during construction, when mark increased the price due to a miscalculation on his part, david refused to pay the amount. this scenario is an example of a mistake.

Answers: 1

Answer

Business, 22.06.2019 20:30

The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november.

Answers: 3

Answer

Business, 23.06.2019 02:00

Which of the following describes a situation of scarcity? a. someone offers free advice about getting into college. b. someone distributes free bottles of water at the beach. c. a child charges friends for a ride on his new bike. d. a person lets the kids in the neighborhood use his pool.

Answers: 1

Answer

You know the right answer?

Timberly construction negotiates a lump-sum purchase of several assets from a company that is going...

Questions