Given the building layout for Store A, Store B, Störe C, and Store D, what portion of the shared $6000 security costs should be apportioned to Store C? В 1250ft C 625 ft 625 ft
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- ework i 370253A%252+%252Flms.mheducation.com%252Fmghmiddleware%252Fmheproducts%252 Saved Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not Required information [The following information applies to the questions displayed below.] Wardell Company purchased a minicomputer on January 1, 2022, at a cost of $56,000 The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $8,000. On January 1, 2024, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $2,000. 2. Prepare the year-end journal entry for depreciation on December 31, 2024. Assume that the company uses the double-declining- balance method instead of the straight-line method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round…of3 Required information [The following information applies to the questions displayed below] On November 10 of year 1, Javier purchased a building, including the land it was on, to assemble his new equipment. The total cost of the purchase was $1,200,000 $300,000 was allocated to the basis of the land, and the remaining $900,000 was allocated to the basis of the building. (Use MACRS Table 1. Table 2. Table 3. Table 4 and Table 5.) Note: Do not round intermediate calculations. Round your answers to the nearest whole dollar amount. b. What would be the year 3 depreciation deduction if the building was sold on August 1 of year 3? Answer is complete but not entirely correct. Year 3 depreciation deduction $102.00005. yellow company purchased the following asset on July 16 2022 and placed it in service on the date shown • Apartment building 12/29/2022, total price=2000000;500000 allocated to the land. a. What is the maximum allowed cost recovery for 2022 for the apartment building?
- Online teachin x n/takeAssignment/takeAssignmentMain.do?invoker3&takeAssignmentSessionLocator=&inprogress%3false еВook Discussion Question 13-6 (LO. 4) On July 16, 2020, Logan acquires land and a building for $500,000 to use in his sole proprietorship. Of the purchase price, $400,000 is allocated to the building, and $100,000 is allocated to the land. Cost recovery of $4,708 is deducted in 2020 for the building (nonresidential real estate). a. What is the adjusted basis for the land and the building at the acquisition date? Land Building b. What is the adjusted basis for the land and the building at the end of 2020? Land Building $ 40 Previous Next Check My Work 10:57 PM 28°F Clear 2/14/2022TB 02-95 Which concept should be applied when reporti... Which concept should be applied when reporting a piece of land that was bought for $50,000 five years ago, and which would probably now sell for $80,000? Multiple Choice The cost principle. The separate entity concept. The asset principle. The duality of effects.What is the cost of land improvements? A. P620,000 B. P654,000 C. P114,000 D. P134,000 What is the cost of the equipment? A. P959,000 B. P849,000 C. P903,000 D. P1,359,000
- esc Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term. Goodwill Amortization Copyright Patent 1 Impairment « Previous ! Q 8: F1 ©2 2 F2 W # 3 20 F3 E 54 $ ✓[Choose ] Its legal life and its useful economic lie can differ greatly. Systematic and rational allocation of the cost of an intangible asset over its useful economic life. Only arises from a business combination. Has a legal life of twenty years. The condition in which the future recoverability of an asset is in question. [Choose] 000 F4 R [Choose] [Choose ] % 5 ܐ F5 T MacBook Air ^ 6 F6 & 7 Ja 8 F7 * 00 8 DII FB - Next 9 DD F9 - 0 an F10See image. Choices: a. P780,000 b. P720,000 c. P1,440,000 d. P560,000See image. CHOICES:a. P905,000 b. P895,000 c. P915,000 d. P900,000
- t: Modi X * CengageNOWv2 | On x * Cengage Learning m/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=. CD B Milestone Two Guideli x G module 5 problem set x A eBook Show Me How Impaired Goodwill and Amortization of Patent On April 1, a patent with an estimated useful economic life of 12 years was acquired for $43,200. In addition, on December 31, it was estimated that goodwill of $41,000 was impaired. a. Record the acquisition of patent. If an amount box does not require an entry, leave it blank. April 1 b. Journalize the adjusting entry on December 31 for the amortization of the patent rights. Do not round intermediate calculations. If an amount box does not require an entry, leave it blank. Dec. 31 C. Journalize the adjusting entry on December 31 for the impaired goodwill. If an amount box does not require an entry, leave it blank. Dec. 31 Next Previous 3:24 PM Check My Work 11/28/2021 56°F Mostly cloudy a O E - A 0 home delete prt sc %2318. ABC Company had the following expenditures related to a software: Costs to develop the software for internal use in ABC's operations (after technological feasibility) P100,000 Cost of market research activities, P75,000 How much costs should be expensed? 175,000 100,000 75,000 011:39 Module1_PPE and .. Problem 28-13 (AICPA Adapted) In 2019, Lepanto Mining Company purchased property with natural resources for P28,000,000. The property had a residual value of P5,000,000. However, the entity is required to restore the property to the original condition at a discounted amount of P2,000,000. In 2019, the entity spent P1,000,000 in development cost . and constructed a building on the property costing P3,000,000. The entity does not anticipate that the building will have utility after the natural resources are removed. In 2020, an amount of P1,000,000 was spent for additional development on the mine. The tonnage mined and estimated remaining tons are: Tons extracted Tons remaining 2019 2020 3,000,000 3,500,000 10,000,000 7,000,000 2,500,000 2021 1. What amount should be recognized as depletion for 2020? a. 6,900,000 b. 9,600,000 c. 8,100,000 d. 8,400,000 2. What amount should be recognized as depletion for 2021? a. 10,150,000 b. 11,025,000 c. 15,750,000 d. 9,450,000