Lexington Garden Supply pays $ 280,000 for a group purchase of land, building, and equipment. At the time of acquisition, the land has a current market value of $ 93,000 , the building's current market value is $ 186,000 , and the equipment's current market value is $ 31,000. Prepare a schedule allocating the purchase price of $ 280,000 to each of the individual assets purchased based on their relative market values, then journalize the lump-sum purchase of the three assets. The business signs a note payable for the purchase price.
Required:
Prepare a schedule allocating the purchase price of $ 280,000 to each of the individual assets purchased based on their relative market values, then journalize the lump-sum purchase of the three assets.
Answers: 3
Business, 22.06.2019 11:40
In each of the following, what happens to the unemployment rate? does the unemployment rate give an accurate impression of what’s happening in the labor market? a.esther lost her job and begins looking for a new one.b.sam, a steelworker who has been out of work since his mill closed last year, becomes discouraged and gives up looking for work.c.dan, the sole earner in his family of 5, just lost his $90,000 job as a research scientist. immediately, he takes a part-time job at starbucks until he can find another job in his field.
Answers: 2
Business, 22.06.2019 17:40
Because the demand for wheat tends to be inelastic. true or false
Answers: 1
Business, 22.06.2019 19:20
Royal motor corp. generates a major portion of its revenues by manufacturing luxury sports cars. however, the company also derives an insignificant percent of its annual revenues by selling its sports merchandise that includes apparel, shoes, and other accessories under the same brand name. which of the following terms best describes royal motor corp.? a. aconglomerate b. a subsidiary c. adominant-businessfirm d. a single-business firm
Answers: 1
Business, 22.06.2019 20:30
Discuss ways that oracle could provide client customers with the ability to form better relationships with customers.
Answers: 3
Lexington Garden Supply pays $ 280,000 for a group purchase of land, building, and equipment. At the...
English, 07.01.2021 20:40
Mathematics, 07.01.2021 20:40
Mathematics, 07.01.2021 20:40
Mathematics, 07.01.2021 20:40
SAT, 07.01.2021 20:40
Advanced Placement (AP), 07.01.2021 20:40
World Languages, 07.01.2021 20:40
Mathematics, 07.01.2021 20:40
Mathematics, 07.01.2021 20:40
History, 07.01.2021 20:40
Mathematics, 07.01.2021 20:40