Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total cash price of $900,000. The estimated market values of the purchased assets are building, $508,800; land, $297,600; land improvements, $28,800; and four vehicles, $124,800. The company’s fiscal year ends on December 31.Required:a. Prepare a table to allocate the lump-sum purchase price to the separate assets purchased. b. Prepare the journal entry to record the purchase. c. Compute the depreciation expense for year 2018 on the building using the straight-line method, assuming a 15-year life and a $27,000 salvage value. d. Compute the depreciation expense for year 2018 on the land improvements assuming a five-year life and double-declining-balance depreciation. e. Prepare a table to allocate the lump-sum purchase price to the separate assets purchased.
Answers: 2
Business, 22.06.2019 16:50
Identify and describe a variety of performance rating scales that can be used in organizations including graphical scales, letter scales, and numeric scales.
Answers: 2
Business, 22.06.2019 17:30
Dr. sperry, a biologist, is using excel to track growth rates of different populations of bacteria. she has a very complex formula in one cell. it begins with “round”. dr. sperry would like to see exactly how excel’s calculation reached the final rounded value that she sees in the cell. what could dr. sperry do to best understand how the calculation was made? try different formulas on her own until she reaches the value shown in excel click on the evaluate formula button in the formulas tab and then click “step in” select the cell and then look at the formula in the formula field of the ribbon remove “round” from the formula in order to see the actual value before rounding
Answers: 2
Business, 22.06.2019 20:10
With signals from no-claim bonuses and deductibles, a. the marginal cost curve for careful drivers lies to the left of the marginal cost curve for aggressive drivers b. auto insurance companies insure more aggressive drivers than careful drivers because aggressive drivers have a greater need for the insurance c. the market for car insurance has a separating equilibrium, and the market is efficient d. most drivers pay higher premiums than if the market had no signals
Answers: 1
Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total cash price...
Social Studies, 29.07.2019 05:30
Biology, 29.07.2019 05:30
Chemistry, 29.07.2019 05:30
History, 29.07.2019 05:30
Mathematics, 29.07.2019 05:30
English, 29.07.2019 05:30
History, 29.07.2019 05:30