On July 1, 2018, Larkin Co. purchased a $440,000 tract of land that is intended to be the site of a new office complex. Larkin incurred additional costs and realized salvage proceeds during 2018 as follows: Demolition of existing building on site Legal and other fees to close escrow Proceeds from sale of demolition scrap $65,000 13,500 9,400
What would be the balance in the land account as of December 31, 2018?
a) $440,000.
b) $505,000.

Answers

Answer 1

Answer:

The balance in the land account as of December 31, 2018 woulf be $509,100.

Explanation:

Note: The data in the question are merged together. They are therefore sorted before answering the question by representing the question as follows:

On July 1, 2018, Larkin Co. purchased a $440,000 tract of land that is intended to be the site of a new office complex. Larkin incurred additional costs and realized salvage proceeds during 2018 as follows:

Demolition of existing building on site = $65,000

Legal and other fees to close escrow = $13,500

Proceeds from sale of demolition scrap = $9,400

What would be the balance in the land account as of December 31, 2018?

The explanation to the answer is now given as follows:

The balance in the land account as of December 31, 2018 can be calculated using the following formula:

Balance in the land account as of December 31, 2018 = Purchase price + Demolition of existing building on site + Legal and other fees to close escrow - Proceeds from sale of demolition scrap ..................... (1)

Substituting the relevant values from the question into equation (1), we have:

Balance in the land account as of December 31, 2018 = $440,000 + $65,000 + $13,500 - $9,400 = $509,100

Therefore, the balance in the land account as of December 31, 2018 woulf be $509,100.


Related Questions

The Financial Calculator Company proposes to invest $12 million in a new calculator-making plant that will depreciate on a straight-line basis. Fixed costs are $3 million per year. A financial calculator costs $10 per unit to manufacture and sells for $30 per unit. If the plant lasts for four years and the cost of capital is 20 percent, what is the accounting break-even level of annual sales? (Assume no taxes.)

Answers

Answer:

the accounting break-even level of annual sales is 300,000 units

Explanation:

The computation of the accounting-break even level of annual sales is shown below"

= (Fixed cost + depreciation expense) ÷ (contribution margin per unit)

= ($3 million + ($12 million ÷ 4 years) ÷ ($30 - $10)

= $6 million ÷ $20

= 300,000 units

hence, the accounting break-even level of annual sales is 300,000 units

We simply applied the above formula so that the correct value could come

And, the same is to be considered

You decide to invest in a portfolio consisting of 40 percent Stock A, 30 percent Stock B, and the remainder in Stock C. Based on the following information, what is the expected return of your portfolio?
Probability of State Return if State Stock
State of Economy of Economy Stock A Stock B Stock C
Recession -20 -18.2% 3.6% -22.5%
Normal -51 10.8% 8.2% 16.8%
Boom -29 28.0% 15.5% 31.4%
a. 11.14%.
b. 13.73%.
c. 12.59%.
d. 71.62%.
e. 10.65%.

Answers

Answer: e. 10.65%.

Explanation:

First find the expected return of the individual stocks;

Stock A = (0.2 * - 0.182) + (0.51 * 0.108) + (0.29 * 0.28) = 9.99%

Stock B =  (0.2 * - 0.036) + (0.51 * 0.082) + (0.29 * 0.155) = 7.96%

Stock C = (0.2 * - 0.225) + (0.51 * 0.168) + (0.29 * 0.314) = 13.17%

Expected return of portfolio = ∑(Stock expected return * weight)

= (0.4 * 0.0999) + (0.3 * 0.0796) + (0.3 * 0.1317)

= 10.65%

Question is missing detail. Stock B return in recession is negative figure.

When people who earn higher incomes pay higher taxes, this represents what role of government?


a supervisory body

one that reallocates income

an entrepreneurship

a source of public good

Answers

Answer:

one that reallocates income

Sunland, Inc. had pre-tax accounting income of $2100000 and a tax rate of 20% in 2021, its first year of operations. During 2021 the company had the following transactions: Received rent from Jane, Co. for 2022 $90000 Municipal bond income $114000 Depreciation for tax purposes in excess of book depreciation $54000 Installment sales profit to be taxed in 2022 $156000 For 2021, what is the amount of income taxes payable for Sunland, Inc

Answers

Answer:

Income Taxes Payable = $373,200

Explanation:

Taxable Income = Pre-Tax Accounting Income + Rent received - Municipal Bond Income - Tax Depreciation in excess of Book depreciation - Installment Sales Profit to be taxed in 2022

Taxable Income = 2100000 + 90000 -  114000 - 54000 - 156000

Taxable Income = 1,866,000

Income Taxes Payable = Taxable Income * Tax Rate

Income Taxes Payable = 1,866,000 * 20%

Income Taxes Payable = $373,200

On June​ 30, Company issues ​, ​-year bonds payable with at face value of . The bonds are issued at face value and pay interest on June 30 and December 31. Requirements 1. Journalize the issuance of the bonds on June 30. 2. Journalize the semiannual interest payment on December 31. Requirement 1. Journalize the issuance of the bonds on June 30. ​(Record debits​ first, then credits. Select explanations on the last line of the journal​ entry.)

Answers

Answer:

1. Dr Cash​ $ 98,000

Dr Discount on Bonds Payable​ $2,000

Cr Bonds payable $100,000

2. Dr Interest Expense​ $ 4,050

Cr Discount on Bonds Payable​ $50

Cr Cash​ $4,000

Explanation:

1. Preparation of the journal entry for the issuance of the bonds on June 30

Dr Cash​ $ 98,000

( $ 100,000 x 0.98 ​)

Dr Discount on Bonds Payable​ $2,000

($100,000 ​- ​$98,000) ​

Cr Bonds payable $100,000

2. Preparation of the Journal entry to record the semiannual interest payment

Dr Interest Expense​ $ 4,050

($4,000 ​+ ​$50 ​)

Cr Discount on Bonds Payable​ $50

( $2,000 x​ 1/40 )

Cr Cash​ $4,000

($ 100,000 x 8​% x​ 6/12 )

ABC Company and XYZ Company entered into a nonmonetary exchange lacking commercial substance. In the exchange, ABC gave XYZ a building with a book value of $90,000 ($150,000 cost - $60,000 accumulated depreciation) and a fair value of $125,000 in exchange for $25,000 and an XYZ building with a book value of $80,000 ($95,000 cost - $15,000 accumulated depreciation) and a fair value of $100,000. Prepare the journal entry to record the exchange in ABC's and XYZ's books.

Answers

Answer:

New Building Acquired at Carrying Amount  $90,000 (debit)

Accumulated Depreciation on Building given up $60,000 (debit)

Cost of Building given up $150,000 (credit)

Explanation:

Where the exchange transaction lacks commercial substance, the asset that is acquired is measured at the carrying amount (Cost less Accumulated Depreciation) of the asset given up, and no gain or loss cannot be estimated reliably.

The Building with Carrying Amount of $90,000 ($150,000 cost - $60,000 accumulated depreciation).

Thus the Journal will be :

New Building Acquired at Carrying Amount  $90,000 (debit)

Accumulated Depreciation on Building given up $60,000 (debit)

Cost of Building given up $150,000 (credit)

At year-end (December 31), Chan Company estimates its bad debts as 0.80% of its annual credit sales of $654,000. Chan records its Bad Debts Expense for that estimate. On the following February 1, Chan decides that the $327 account of P. Park is uncollectible and writes it off as a bad debt. On June 5, Park unexpectedly pays the amount previously written off. Prepare Chan's journal entries for the transactions.

Answers

Answer and Explanation:

The journal entries are shown below:

On December 31

Bad debt expense Dr  $5,232      ($654,000 × 0.80%)

      To Allowance for doubtful debts  $5,232

(To record the bad debt expense)  

On Feb 01

Allowance for doubtful debts Dr $327

     To Account receivable $327

(To record the uncollectible amount)

On June 5

Account receivable $327

         To Allowance for doubtful debts Dr $327

 (To record the uncollectible amount)

On June 5

Cash Dr $327

  To Account receivable $327

(To record the cash received)

Even though the moving averages help highlight the long-run trend of a time series, the moving-average model is not designed for making forecasts in the presence of trends. Explain the reason why we should not rely on moving averages for predicting future observations of a trending series.

Answers

Answer:

Moving averages cannot be used to make future forecasts successfully because certain events like demand, supply ,quality and external factors such as competitions cannot be determined with the use of Moving averages, and these factors have a huge impact on prices

Explanation:

Moving averages are generated / obtained using data from events that occurred previously hence they highlight the long-run trend of a time series, but they cannot be used to make future forecasts successfully because certain events like demand, supply ,quality and external factors such as competitions cannot be determined with the use of Moving averages. and these factors have a huge impact on prices

Felipe died on May 9, 2016. At date of death he owned the following assets:• Cash in the bank: $12,000• ABC Bonds: Fair market value $5,000• Office building: Fair market value, $300,000• Stock in Leck Corporation: Fair market value, $10,000• Personal residence (jointly held with his spouse): Fair market value, $160,000.
In addition, accrued rents on the office building to date of death is $24,000; accrued interest on the bonds at date of death is $200; $400 in dividends are outstanding on the Leck stock (date of record April 30, 2016). Felipe's gross estate is $__________.

Answers

Answer:

$431,600

Explanation:

      Calculation of Gross Estate of Felipe

Items                                                   Amount($)

Cash at bank                                      $12,000

ABC BOND                                         $5,000

Office building                                    $300,000

Stock in Leck Corporation                 $10,000

Personal residence (50% include)    $80,000

Accrued rent on office building        $24,000

Accrued rent on bond                       $200

Outstanding dividend                        $400      

Gross estate                                       $431,600

A falling price level is a symptom of an unhealthy economy, if prices have fallen due to _________. It is symptom of a healthy economy if prices have fallen due to _________

Answers

Answer:

A decrease in the demand for goods and services; an increase in the supply of goods and services.

Explanation:

In the case of the unhealthy economy, if the price is fall so it is because of reduction in the demand of the products and services while on the other hand if there is a healthy economy and now the price is fallen so it is because of the supply of the goods and services are rised up.

Therefore the last option is correct

And, the rest of the options are incorrect

Sraibn271 Corporation has two divisions: Domestic Division and Foreign Division. Last month, the corporation reported a contribution margin of $46,400 for Domestic Division. Foreign Division had a contribution margin ratio of 35% and its sales were $243,000. Net operating income for the Sraibn271 Corporation was $36,800 and traceable fixed expenses were $51,000.
(ID#19361)
What were Sraibn271 Corporation's common fixed expenses?
a) $131,450
b) $43,650
c) $51,000
d) $94,650

Answers

Answer: b) $43,650

Explanation:

Contribution margin of Domestic division + contribution margin of Foreign division - traceable fixed cost - common fixed cost = Net operating income for company

46,400 + (0.35 * 243,000) - 51,000 - Common = 36,800

80,450 - Common = 36,800

Common = 80,450 - 36,800

= $43,650

All employees of United Company are covered by a group hospitalization insurance plan, but the employees must pay the premiums ($8,000 for each employee). None of the employees has sufficient medical expenses to deduct the premiums. Instead of giving raises next year, United is considering paying the employee's hospitalization insurance premiums. If the change is made, the employee's after-tax and insurance pay will:

Answers

Answer:

a.Increase more for the higher income (35% marginal tax bracket) employees.

Explanation:

As in the question it is mentioned that the United company will pay the premium of $8,000 on behalf of each employee so it would be compensated from the salary of the employee and it could be comes under the taxable income

Therefore as per the given options, the option a is correct as it would be taxed at 35% tax rate from the salaries of the employees

Therefore all the other options are incorrect

Can we get this to 20 Answers?

Answers

Answer:

what is your question ? tell me in the comments plz

Explanation:

its unit.
Q.No. 3 The bottom of the ship is made heavy, why?​

Answers

Answer:

Ship to have a stable equilibrium.

Explanation:

The bottom of a ship is made heavy to keep the centre of gravity of ship below the centre of buoyancy so that the ship is in stable equilibrium.

Explanation:

the bottom of the ship is made heavy because to not made the ship sink in the ocean

Budgeting, ethics, pharmaceutical company. Chris Jackson was recently promoted to Controller of Research and Development for BrisC or, a Fortune 500 pharmaceutical company that manufactures prescription drugs and nutritional supplements. The company’s total R&amp ; D cost for 2017 was expected (budgeted) to be $5 billion. During the company’s midyear budget review, Chris realized that current R&amp ; D expenditures were already at $3.5 billion, nearly 40% above the midyear target. At this current rate of expenditure, the R&amp ; D division was on track to exceed its total year-end budget by $2 billion!
In a meeting with CFO Ronald Meece later that day, Jackson delivered the bad news. Meece was both shocked and outraged that the R&D spending had gotten out of control. Meece wasn’t any more understanding when Jackson revealed that the excess cost was entirely related to research and development of a new drug, Vyacon, which was expected to go to market next year. The new drug would result in large profits for BrisCor, if the product could be approved by year-end. Meece had already announced his expectations of third-quarter earnings to Wall Street analysts. If the R&D expenditures weren’t reduced by the end of the third quarter, Meece was certain that the targets he had announced publicly would be missed and the company’s stock price would tumble. Meece instructed Jackson to make up the budget shortfall by the end of the third quarter using "whatever means necessary." Jackson was new to the controller’s position and wanted to make sure that Meece’s orders were followed. Jackson came up with the following ideas for making the third-quarter budgeted targets:
1. Stop all research and development efforts on the drug Vyacon until after year-end. This change would delay the drug going to market by at least 6 months. It is possible that in the meantime a BrisCor competitor could make it to market with a similar drug.
2. Sell off rights to the drug Martek. The company had not planned on doing this because, under current market conditions, it would get less than fair value. It would, however, result in a one-time gain that could offset the budget shortfall. Of course, all future profits from Martek would be lost. Capitalize some of the company’s R&D expenditures, reducing R&D expense on the income statement. This transaction would not be in accordance with GAAP, but Jackson thought it was justifiable because the Vyacon drug was going to market early next year. Jackson would argue that capitalizing R&D costs this year and expensing them next year would better match revenues and expenses.
3. Referring to the "Standards of Ethical Behavior for Practitioners of Management Accounting and Financial Management,"
4. Which of the preceding items are acceptable to use? Which are unacceptable? What would you recommend Jackson do?

Answers

Answer:

BrisCor

Budgeting, ethics, pharmaceutical company

a. Referring to the "Standards of Ethical Behavior for Practitioners of Management Accounting and Financial Management,"

none of the preceding items are acceptable to use.

b. I would recommend Jackson to go ahead with the R&D throughout the year to ensure that the drug Vyacon was successfully brought to the market next year before the competitor.  He can try to keep to the budget going forward.  A budget remains a budget and not the actual.  Budget overrun can result.  What is important is its effectiveness in achieving business goals.

Explanation:

The announced expectations of third-quarter earnings to Wall Street analysts should not prevent the R&D on the drug Vyacon from continuing, provided Jackson is certain that the envisaged success would be attained.  They remain expectations.  They are not the actual results of operations for the year. Even if the company's stock price would tumble, it would still recover after the drug had received approval and gone to market, raking in large profits.  After all, the projected increase in R&D cost might not result, and the drug Vyacon could be fully developed and ready for the market before year-end, thereby not exceeding its budget.

Hart corporation owns machinery with a book value of 285,000. It is estimated that the machinery will generate future cash flows of 300,000. The machinery has a fair value of 210,000. Hart should recognize a loss on impairment of:___________
a) 0
b) 15,000
c) 75,000
d) 90,000

Answers

Answer- 0
The correct answer is a. 0.

This is because the loss on impairment is calculated by subtracting the recoverable value from the carrying value, and is recorded only if carrying value is higher than recoverable value.

Hope this helps....

You want to be a millionaire when you retire in 40 years. a. How much do you have to save each month if you can earn an annual return of 9.7 percent

Answers

Answer:

the amount that saved each month is $173.21

Explanation:

The computation of the amount that saved each month is as follows:

Here we use the PMT formula

Given that

NPER = 40 × 12 =  480

PMT = 9.7% ÷ 12 = 0.81%

PV = $0

FV = $1,000,000

The formula is shown below:

= PMT(RATE;NPER;PV;-FV;TYPE)

The future value comes in negative

After applying the above formula, the pmt is $173.21

Hence, the amount that saved each month is $173.21

Novak Company took a physical inventory on December 31 and determined that goods costing $190,000 were on hand. Not included in the physical count were $25,170 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $21,900 of goods sold to Alvarez Company for $30,030, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Novak report as its December 31 inventory

Answers

Answer: $237070

Explanation:

The amount that Novak should report as its December 31 inventory will be:

Inventory in hand = $190,000

Add: Goods bought from Pelzer Corporation = $25,170

Add: Cost of goods sold to Alvarez Company = $21900

Total = $237070

The amount that Novak should report as its December 31 inventory will be $237070

Boots Plus has two product​ lines: Hiking boots and Fashion boots. Income statement data for the most recent year​ follow: Total Hiking Fashion Sales revenue ​ $520,000 $380,000 $140,000 Variable expenses ​ 365,000 245,000 120,000 Contribution margin ​ 155,000 135,000 20,000 Fixed expenses 81,000 40,500 40,500Operating income​ (loss) $74,000 $94,500 $(20,500)Assuming the Fashion line is​ discontinued, total fixed costs remain​ unchanged, and the space formerly used to produce the line is rented for per​ year, how will operating income be​ affected?A. Increase $157,000.B. Decrease $49,500.C. Increase $6,000.D. Increase $83,000.

Answers

Question Completion:

Assuming that the rent received from the Fashion line space is $40,500.

Answer:

Boots Plus

The operating income will be increased by $20,500.

Explanation:

a) Data and Calculations:

Boots Plus Income Statement before the discontinuation of Fashion line:

                                             Total      Hiking        Fashion

Sales revenue               $520,000  $380,000   $140,000

Variable expenses ​         365,000    245,000     120,000

Contribution margin ​       155,000     135,000      20,000

Fixed expenses                 81,000       40,500      40,500

Operating income​ (loss) $74,000    $94,500  $(20,500)

Elimination of the Fashion line

Boots Plus Income Statement after the discontinuation of Fashion line::

                                              Total

Sales revenue                  $380,000

Variable expenses ​            245,000

Contribution margin ​          135,000

Fixed expenses                    81,000

Rent income                        40,500

Operating income​ (loss)  $94,500

Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $29,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Additionally, a $49 check written and recorded by the company correctly, was recorded by the bank as a $94 deduction. The adjusted cash balance per the bank records should be:

Answers

Answer:

The adjusted cash balance per the bank records should be $29,406

Explanation:

Adjusted Balance is the money that a business or individual should have in the bank account assuming all the entries made in the cash book are correct.

As Bank deducted $45 ( $94 - $49 ) more in respect of check written. Check written is a deduction which is made against the payment against the check written.

Balance as per bank statement ___ $29,361

Add: Correction of error ($94 - $49)_$45

Adjusted Cash Balance _________ $29,406

Rorry Company uses a job cost system. Overhead was applied to production using a rate of 78 percent of direct labor costs. What is the journal entry when direct labor costs are $18,000

Answers

Answer:

Dr Work in Process Inventory for $14,040

Cr Manufacturing Overhead for $14,040

Explanation:

Based on the information given we were told that the company applied Overhead to production using a rate of 78% of direct labor costs which means that the journal entry when direct labor costs are the amount of $18,000 will be :

Dr Work in Process Inventory for $14,040

Cr Manufacturing Overhead for $14,040

(78%*18,000)

Corporation is considering permanently shutting down a department that has an annual contribution margin of $32,000 and $64,000 in annual fixed costs. Of the fixed costs, $16,000 cannot be avoided. The effect of eliminating this department on Fabio's overall net operating income would be:________.

Answers

Answer:

an increase of $16,000

Explanation:

Calculation for what The effect of eliminating this department on Fabio's overall net operating income would be

Calculatation of Segment Margin

Contribution Margin 32,000.00

Less Avoidable Fixed Costs( 48,000.00)

(64,000+16,000)

Segment Margin (-$16,000)

Based on the above calculation in a situation where the department was eliminated it means that the company have to eliminate the segment margin department's with negative amount of $16,000 which will lead to the overall net operating income to increase by the amount of $16,000

Therefore The effect of eliminating this department on Fabio's overall net operating income would be:an increase of $16,000

In the challenging world of retail sales, Macy's, Inc.'s (M's) revenues are declining while expenses are generally flat. Based on recent conversations with management at Macy's, analysts believe that dividends will decline at a rate of 7% perpetually. The firm just paid a dividend of $5.10 per share and the required return on the stock is 3%
a) At what price should a share of M stock sell today? (2 pts.)
b) Calculate what the stock should sell for 8 years from now. 12 pts.)
c) Briefly explain, perhaps with the aid of a single calculation, why an investor would still be interested in buying the stock today even though the stock price is predicted to fall acrosats time. (2 pts.)

Answers

Answer

a) Gordon's Constant Growth model : P0 = D1 / (r-g)

r = 3% =0.03 , g= -7% = -0.07 , D0 = $5.1

D1 = D0*(1+g)

D1 = 5.1*(1-0.07)

D1 = $4.743

P0 = 4.743/(0.03- (-0.07))

P0 = 4.743/0.10

P0 = $47.43

So, Stock M should sell at a price of $47.43 today

b) Price 8 years from now

==> P8 = D9/(r-g)

P8 = D0*(1+g)^9/(r-g)

P8 = 5.1* (1-0.07)^9 / (0.03- (-0.07))

P8 = 5.1*0.52041108298  / (0.03- (-0.07))

P8 = 2.65410

P8 = $26.54

c) Investor may want to buy the stock today for the Dividends. If the dividends paid are high enough, the present value of the dividends is also high and may more than compensate the fall in stock price. This type of stocks work and give cash flows like a project where the initial cashflows are higher and later cashflows are less because of market factors.

what are the three basic types of issues that arise in business finance?​

Answers

Answer:

Capital Budgeting, Capital Structure Decisions, and working Capital Management.

Suppose the Federal Reserve (the Fed) announces that it is raising its target interest rate by 50 basis points, or 0.50%. It would achieve this by _____________________: The sequence of events that results in a new equilibrium interest rate, after the Fed makes the change you selected, may be described as follows: Because there is ____________ in the financial system the quantity of money demanded __________.

Answers

Answer: decreasing money supply; less; decreases.

Explanation:

When the Federal Reserve wants to increase its target interest rate by 50 basis points, this can be done if the Fed reduces the money supply that is in circulation.

This will in turn, lead to a new equilibrium rate and there will also be a decrease in money in the financial system as there'll be a reduction in the quantity of money demanded.

Data for January for Bondi Corporation and its two major business segments, North and South, appear below:
Sales revenues, North $ 548,000
Variable expenses, North $ 318,000
Traceable fixed expenses, Nort $ 65,600
Sales revenues, South $ 423,500
Variable expenses, South $ 241,600
Traceable fixed expenses, South $ 54,800
In addition, common fixed expenses totaled $148,600 and were allocated as follows: $77,200 to the North business segment and $71,400 to the South business segment.
A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is:
a. $87,200
b. $318,000
c. $164,400
d. $152,800

Answers

Answer:

Segment margin North= $164,400

Explanation:

Giving the following information:

Sales revenues= $548,000

Variable expenses= $318,000

Traceable fixed expenses= $65,600

To calculate the segment margin for the North division, we need to use the following formula:

Segment margin North= segment contribution margin - traceable fixed expense

Segment margin North= (548,000 - 318,000) - 65,600

Segment margin North= $164,400

What are examples of professional organizations? Check all that apply.

Answers

Answer:

AABB (formerly American Association of Blood Banks)

Academy of International Business (AIB)

Academy of Management (AOM)

American Institute of Certified Public Accountants (AICPA)

Association for the Advancement of Cost Engineering (AACE International)

Association for Computing Machinery (ACM)

Shale Remodeling uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits $ 86 per hour Annual labor hours 3,100 hours Annual materials purchase $ 1,316,250 Materials purchasing, handling, and storage $ 315,900 Overhead for depreciation, taxes, insurance, etc. $ 780,000 Target profit margin for both labor and materials 25 % What should Shale set as the materials markup per dollar of materials used

Answers

Answer:

49%

Explanation:

Material mark up per dollar of material used = Target profit + Percentage of material purchasing , handling and storage

Material mark up per dollar of material used = 25% + (315,900/1,316,250 *100)

Material mark up per dollar of material used = 25% + 24%

Material mark up per dollar of material used = 49%

Apollo Inc. has an unfunded pension liability of $900 million that must be paid in 30 years. If the annual interest rate is 6% compounded semiannually, what is the present value?

Answers

Answer:69420 milliom

Explanation:

Nice

On January 1, Year 1, Lowing Company acquired a patent from Generics Research Corporation for $3 million. The legal life of the patent is 20 years, but Lowing expects to use it for 5 years. Pawson Company has committed to purchase the patent from Lowing for $500,000 at the end of that 5-year period. Lowing uses the straight-line method to amortize intangible assets with finite useful lives. What is the amount of amortization expense each year

Answers

Answer:

patent amortization expense per year = $500,000 per year

Explanation:

patent amortization expense per year = depreciable value / useful life of the intangible asset

depreciable value = purchase cost - salvage value = $3,000,000 - $500,000 = $2,500,000useful life of the patent = 5 years (the legal life is different than the useful life)

patent amortization expense per year = $2,500,000 / 5 years = $500,000 per year

Other Questions
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