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1. Acquisition Costs of Realty Pollachek Co. purchased land as a factory site for $450,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $42,000 to raze the old buildings and sold salvaged lumber and brick for $6,300. Legal fees of $1,850 were paid for title investigation and drawing the purchase contract. Pollachek paid $2,200 to an engineering firm for a land survey, and $65,000 for drawing the factory plans. The land survey had to be made before definitive plans could be drawn. Title insurance on the property cost $1,500, and a liability insurance premium paid during construction was $900. The contractor's charge for construction was $2,740,000. The company paid the contractor in two installments: $1,200,000 at the end of 3 months and $1,540,000 upon completion. Interest costs of $170,000 were incurred to finance the construction. Determine the cost of the land and the cost of the building as they should be recorded on the books of Pollachek Co. Assume that the land survey was for the building.
What are some of the different types of sampling methods that are available to the auditor? How does the auditor decide which method to use? How will the different methods affect the audit?
justin zinder is a venture capitalist facing two alternative investment opportunities. he intends to invest 1 million
Hilton Enterprises sells a product for $68 per unit. The variable cost is $36 per unit, while fixed costs are $286,720. Determine the (a) break-even point in sales units and (b) break-even point if the selling price were increased to $76 per unit.
on january 1 2008 jeremiah corporation had 40000 of 12 par value common stock outstanding. on june 1 2008 jeremiah
a vacant lot acquired for 200000 on which there is a balanceowed of 120000 is sold for 300000 in cash. the sellerpays
The CEO of your company has asked you, the human resource manager, to conduct a study to determine whether or not male managers and female managers perceive leadership styles differently and, if differences are found, to develop a training program..
"One of the least practical suggestions that economists have offered to managers is that they set marginal revenues equal to marginal costs." Discuss this statement.
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given the long tax history of this country why do you think our tax laws need to be tweaked on a continual basis? would
The raw materials and work in process inventories decreased by $4,000 and $3,000, respectively. The total manufacturing costs used in the computation of cost of goods manufactured during the month of April was:
The Municipal Electric Utility (MEU) was created as a separate legal entity in accordance with state law to own, manage, and operate an electric utilities system in the city. The MEU governing body consists of five members.
On October 5, Veri-Wyn Company sold to Dunn & Brooks merchandise having a sale price of $23,000 with terms of 1/10, n/30, f.o.b. shipping point.
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