Author Question: On May 7, Carpet Barn Company offered to pay 83,000 for land that had a selling price of 105,000 . ... (Read 68 times)

tichca

  • Hero Member
  • *****
  • Posts: 554
On May 7, Carpet Barn Company offered to pay 83,000 for land that had a selling price of 105,000 . On May 15,Carpet Barn accepted a counteroffer of 95,000 . On June 5, the land was assessed at a value of 115,000 forproperty tax purposes. On December 10, Carpet Barn Company was offered 135,000 for the land by anothercompany. At what value should the land be recorded in Carpet Barn Company's records?

Question 2

For externally reported inventory costs, the Work-in-Process Control account is increased (debited) by ________.
 
  A) marketing costs
  B) allocated plant utility costs
  C) the purchase costs of direct and indirect materials
  D) customer-service costs



Liamb2179

  • Sr. Member
  • ****
  • Posts: 365
Answer to Question 1

95,000

Answer to Question 2

Answer: B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

For a complete list of videos, visit our video library