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Determining the cost of plant assets) Ayer Self Storage purchased land, paying $175,000 cash as a down payment and signing a $190,000 note payable for the balance. Ayer also had to pay delinquent property tax of $3,500, title insurance costing $3,000, and $9,000 to level the land and remove an unwanted building. The company paid $59,000 to add soil for the foundation and then constructed an office building at a cost of $650,000. It also paid $55,000 for a fence around the property, $14,000 for the company sign near the property entrance, and $8,000 for lighting of the grounds. Determine the cost of Ayer’s land, land improvements, and building.
The federal government provided the funds the following months. The local government would recognize revenues for the fiscal year ended June 30, 2009 in which amount?
Determine the contribution Margin Income statement and Redo the company contribution format income statement assuming that the company sells 1,400 units.
At the end of the year, the firm's records revealed the following actual cost and operating data for all cases handled during the year.
Determine the costs assigned to ending inventory and to cost of goods sold using LIFO. Calculate the gross margin for FIFO and LIFO method.
Assume you are the CEO of Declining Corporation, How would you reply to the CEO's suggestion? Summarize your response including why you opted for or against the adoption IFRS.
Finding the equivalent units for materials and conversion - Determine the equivalent units for May for materials and conversion costs?
In preparing the cash budget, assume that the $30,000 loan will be made in April and repaid in June. Interest on the loan will total $1,200. If the company needs a minimum cash balance of $20,000 to start each month, can the loan be repaid as plann..
It had a useful life of 10 years. On January 1, 2012, ELO spent 44,000 to successfully defend the patent in a lawsuit. ELO feels that as of that date, the remaining useful life is 5 years. Illustrate what amount should be reported for patent amort..
Beth's business purchased only one asset during the current year. It placed in service machinery (7-year property) on December 1 with a basis of $50,000. Calculate the maximum depreciation expense
then lists all the product offerings from that vendor. Hopefully, the consultants have a lot of experience with business web sites and they can help us with many of these issues. Develop a set of four to five criteria for evaluating their web sit..
The company is investigating an investment of $400,000 in project that will generate annual net operating income of $78,000. What is the return on investment of the project? What is the residual income of the project? Should the company invest in ..
Calculate the total gain that the two companies can achieve by entering into a swap between them and explain briefly why such swap transforms a fixed rate liabilities of ABC inc. in floating rate liabilities
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