« previous next »

Author Question: On May 7, Carpet Barn Company offered to pay 83,000 for land that had a selling price of 105,000 . ... (Read 73 times)

tichca

  • Hero Member
  • *****
  • Posts: 554
on: Jul 5, 2018
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
Reply #1 on: Jul 5, 2018
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
« previous next »
 

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Morris and Company, Sussex Rush-Seated Chairs. Morris and Company, Sussex Rush-Seated Chairs.
Changes in Land Configuration and Surface Characteristics Changes in Land Configuration and Surface Characteristics
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
A farmer has 100 acres of land on which she plans to grow wheat and corn. Each acre of wheat ... A farmer has 100 acres of land on which she plans to grow wheat and corn. Each acre of wheat ...
A farmer has 100 acres of land on which she plans to grow wheat and corn. Each acre of wheat ... A farmer has 100 acres of land on which she plans to grow wheat and corn. Each acre of wheat ...
Plot of Land (Modified Offset Method) - Offset lines Plot of Land (Modified Offset Method) - Offset lines
Video: Chloroplast Structure & Light Dependent Reactions (Photosystem 1 and 2 Cyclic Electron Flow)

For a complete list of videos, visit our video library