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Miller company acquired land and a building on july 1 2014, paying a total of 1,400,000. seperately the land had estimated fair market value of 750,000 and the building had an estimated afiar market value of 1,125,000. in order to use the property, land improvements of 20,000 were incurred. additionally the building needed to be rewired at a cost of 65,000. also, certian walls had to be knocked down, while others were constructed. the cost to remove and replace walls was 80,000. the company took occupancy of the building on november 1 2014.for all the items noted above, determine how much will be incorporated into the land account, the building account, or expensed as of miller company's year end of december 31,2014.
Richards makes cash contributions of $35,000 to charitable organizations. What is Richards Corporation's charitable contribution deduction for the current year?
petes pet products is a sole proprietorship owned by pete thompson. the store provides a full-line of pet products
Parr Hardware Store had net credit sales of $5,200,000 and cost of goods sold of $4,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively. The receivables turnover was ..
a business ownsnbsp cows. how should the corporation record the cows are they assets to the corporation ? if so what
Why might overhead be under-applied and how can you prevent it? Explain predetermined overhead rate and show its computation. What is the best allocate base to use and why? What factors do you consider when deciding on an allocation base?
cyrpton electronics has a capital structure consisting of 41 common stock and 59 debt. a debt issue of 1000 par value
There was a favorable materials price variance of $380 and an unfavorable materials quantity variance of $120. Based on these variances, one could conclude that:
the bailey machine tool company thinks it can increase sales by 10 million by loosening its credit standards somewhat.
what are several conditions that can lead to fraud and to what type of fraud can they lead?explain the details of a
Morgan (age 45) is single and provides more than 50% of the support of Rosalyn (a family friend), Flo (a niece, age 18), and Jerold (a nephew, age 18).
Handy-Man Services is a repair-service company specializing in small household jobs. Each client pays a fixed monthly service fee based on the number of rooms in the house. Records are kept on the time and material costs used for each repair. The ..
bubbas crawfish processing company uses a traditional overhead allocation based on direct labor hours. for the current
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