On October 31, 20X5, West Company received a condemnation award of $450,000 as compensation for the forced sale of a warehouse. On this date the warehouse, including the land on which it was situated, had a book value of $275,000. During December 20X5, West purchased a parcel of land for a new warehouse site at a cost of $125,000. West should report on its income statement for the year ended December 31, 20X5, a gain on condemnation of property of

Answers

Answer 1

Answer:

$175,000

Explanation:

Calculation to determine West should report on its income statement for the year ended December 31, 20X5, a gain on condemnation of property of

Using this formula

Gain on condemnation=Compensation for the forced sale-Book value

Let plug in the formula

Gain on condemnation=$450,000-$275,000

Gain on condemnation=$175,000

Therefore what should report on its income statement for the year ended December 31, 20X5, a gain on condemnation of property of $175,000


Related Questions

In an examination evaluation expert system, the _____ component of the expert system is responsible for stating why a loan applicant was approved or rejected.

Answers

Answer:

The missing phrase is Explanation Facility.

Complete Sentence:

In an examination evaluation expert system, the Explanation Facility component of the expert system is responsible for stating why a loan application was approved or rejected.

Explanation:    

An expert system is a computer system program that can do the job of a human expert whose role is to give professional opinions, judgments, or advice regarding an issue. These systems are associated with Artificial Intelligence.

In other to create this kind of system (which has the capacity to solve complex problems) AI programmers use a collection of knowledge stored or codified in if-then formats or rules

In expert systems, an explanation facility is a function that allows non-artificial users to query the veracity of the system's reasoning. Usually, the system would make reference to its frame of logical construct, its rules, and or goals.

Cheers

Employees will perceive that their opinions are more valued if Multiple Choice they're given personalized, closed-end question-type employee opinion surveys. they're provided settings where employees have the opportunity to converse with all levels of management. they're given emails from the CEO on a regular basis. the company emphasizes job simplification.

Answers

Answer:

they're provided settings where employees have the opportunity to converse with all levels of management.

Explanation:

In the case when the employees would perceive as per their opinion and their opinion are most valued so that means it gives the setting at the time when the employees have the opportunity for conversing the management levels

so as per the given options, the second one option is correct

And, all other options are wrong

To determine the financial condition of an existing business, it is necessary to compare ______ with ______ to identify where costs can be reduced or more money is needed.

Answers

Answer:

operating ratios; industry averages

Explanation:

Wardsworth, Inc., manufactures and sells two products: Product I9 and Product Z9. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours Product I9 700 6.0 4,200 Product Z9 900 8.0 7,200 Total direct labor-hours 11,400 The direct labor rate is $26.00 per DLH. The direct materials cost per unit for each product is given below: Direct Materials Cost per Unit Product I9 $ 226.10 Product Z9 $ 151.20 The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Activity Cost Pools Activity Measures Estimated Overhead Cost Expected Activity Product I9 Product Z9 Total Labor-related DLHs $ 463,980 4,200 7,200 11,400 Machine setups setups 9,814 300 400 700 Order size MHs 105,792 4,400 4,300 8,700 $ 579,586 The unit product cost of Product I9 under the company's traditional costing method in which all overhead is allocated on the basis of direct labor-hours is closest to: (Round your intermediate calculations to 2 decimal places.) rev: 03_25_2018_QC_CS-119201 Multiple Choice $466.22 per unit $626.30 per unit $687.14 per unit $455.06 per unit

Answers

Answer:

Predetermined overhead rate = Estimated overhead / Estimated direct labor hour

Predetermined overhead rate = $579,586 / 11400

Predetermined overhead rate = $50.84 per direct labor hour

            Unit Product cost - Z9

Particulars                      Per unit cost

Direct material                   $151.20

Direct labor (8*$26)           $208.00

Overhead (8*$50.84)        $406.72

Unit Product Cost            $765.92

For purposes of computing the weighted average number of shares outstanding during the year, a transaction that must be treated as if it occurred at the beginning of the year is:

Answers

Answer:

The answer is option d. 367,500.

Determine the weighted-average number of shares outstanding as of December 31, 2018.

Tenant Tomas and landlord Landis enter into a contract for Tomas to rent Landis's home for two years. Halfway through the lease, Tomas decides to install smart lights and a security system that requires intensive modifications to the wiring and electrical system. May Tomas make such improvements?

Answers

Answer:

Yes, with Landis' permission

Explanation:

Yes, with Landis' permission.

Any major modifications to a property leased must be done with the knowledge and permission of the landlord. In the case of Thomas(Tenant), the permission of Landis (Landlord) must be sought before Thomas can install the smart light and security system on the property.

____ is a customer's subjective assessment of benefits relative to costs in determining the worth of a product.

Answers

Answer:

Value

Explanation:

A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks etc.

According to the economist Philip Kotler in his book titled "Marketing management" he stated that, there are five (5) levels of a product. This includes;

1. Core benefit.

2. Generic product.

3. Expected product.

4. Augmented product.

5. Potential product.

The core benefit of a product can be defined as the basic (fundamental) wants or needs that is being satisfied, met and taken care of when a customer purchase a product.

In Economics, value is a subjective assessment of benefits by a customer with respect to costs in determining the worth of a product.

For example, a hotel provides a comfortable and convenient bed to spend the night (sleep) when you travel for a vacation at a price.

4. Consumption as a component of GDP refers to the expenditure of A. banks. B. household. C. producers. D. government.
PLEASE TELL A
B
C
D​

Answers

The answer is house hold

At the beginning of the year (January 1), Buffalo Drilling has $11,000 of common stock outstanding and retained earnings of $6,900. During the year, Buffalo reports net income of $7,200 and pays dividends of $1,900. In addition, Buffalo issues additional common stock for $6,700. Required: Prepare the statement of stockholders' equity at the end of the year (December 31)..

Answers

Answer:

Statement of stockholders' equity at the end of the year December 31

                                               Common Stock  Retained Earnings   Total

At Beginning of the year :

Balances                                      $11,000                 $6,900       $17,900

During the Year :

Net Income                                      -                         $7,200        $7,200

Dividend                                          -                         ($1,900)       ($1,900)

Issue of Common Stock             $6,700                       -              $6,700

At End of the Year :

Balances                                    $17,700               $12,200       $29,900

Explanation:

Stockholders' equity represents all items that are attributable to the owners of the company.

The statement of stockholders' equity at the end of the year December 31 has been prepared above according to IAS 1.

Select the correct answer.

Shazia writes a novel about the lives of nomads who lived in the 1800s. She later finds out that a big production house has launched a movie based on a theme that Shazias’ book covers, including a few exact details. The production house didn’t check with Shazia for her consent. Which IPR right has the production house violated?

A.

trademark

B.

copyright

C.

patent

D.

trade secret

E.

goodwill

Answers

Copyright. Copyrights protect all creative material, including the material in which Shazia created.

A lease agreement contains a clause that gives the tenant the right to purchase the property at a specified price. This type of agreement is called a

Answers

Answer: Finance Lease

Explanation:

There are two main types of leases which are operating leases and finance leases. Operating leases work much like an asset being rented so no ownership is passed from the person leasing to the leasee.

When it comes to finance leases however, the person leasing treats the asset as if it is their own. They record depreciation and list it as an asset in their balance sheets. At the end of the lease term, the leasee then has the option to purchase the asset.

Shared development of innovations among several departments is emphasized by the _____ approach to innovation

Answers

Answer:

horizontal linkage

Explanation:

In a value chain horizontal linkages involve cooperation among different departments aimed at building interdependence, trust, and resource pooling in order to achieve a set goal.

It is made up of relationships between people or department that are equal in an organisation.

Shared development innovations are more easily implemented by using the horizontal linkage model. Participants are more willing to express themselves freely and work collaboratively to achieve set goals.

A low-cost leader can translate its low-cost advantage over its rivals into superior profit performance by

Answers

Answer:

either using its low-cost edge to underprice competitors and attract price sensitive buyers in large enough numbers to increase total profits or refraining from price-cutting and using the low-cost advantage to earn a bigger profit margin on each unit sold.

Explanation:

Competitive advantage is the edge that a firm has over others in the same industry that results in higher profit margins for them.

One of the importance competitive advantages is price advantage.

This results from the firm being a low cost leader. Their cost of production is low enough for them to attract customers that are price sensitive leading to increased profits.

Also they can underprice their competitors or earn profit margins on the reduced cost of production per unit

Answer:

The low-cost leader can try to underprice the rest of the competition in order to attract more customers. Lower prices should increase total sales volume which will help to increase profits by offsetting fixed costs and increasing the total contribution margin. This strategy can be used as long as the firm is able to produce under economies of scale.

Explanation:

Broker A is involved in an exclusive right to sell listing with his seller client, Seller S. After receiving the property condition disclosure form from Seller S, Mark hosts an open house to promote his new listing. At the open house a customer expresses concerns about radon levels in the area. Seller S did not indicate a radon problem on the property disclosure. What is Broker A's best course of action in this situation

Answers

Answer:

In such a scenario, it is recommended that Broker A should acknowledge the concerns of the customer because this is a material concern. They should then remind the customer that there exists a Property Disclosure Form which is made by the Seller that the customer is allowed to view to see if there is anything wrong with the house.

You as the broker, are acting on behalf of the seller so should not disclose any information than what is on the Property Disclosure Form.

If however, you know of a radon problem in the property in your personal capacity, the law requires that in the interest of safety, you reveal this to the customer if the seller did not disclose this in the form.

if there was a shirt that looks identical but came out in two different seasons how do you explain the price difference to the customer even though they look the same but from two different seasons?

Answers

There may be a higher demand for a long sleeve shirt in winter or fall rather than summer or spring. It’s all about economics.

Hope this helps!

(If you have any questions about how I got my answer, feel free to ask in the comments. Also, if you found my answer helpful please consider awarding me brainliest, Thanks!!)

How long must one wait (to the nearest year) for an initial investment of $1,000 to triple in value if the investment earns 8% compounded annually

Answers

Answer:

t = 14 years

Explanation:

The computation of the time period is shown below:

As we know that

Future value = Present value ×(1 + rate of interest)^time period

$3,000 = $1,000 × (1 + 0.08)^time period

3 = 1.08^time period

Now multiply log to both sides

So,

lof(3) ÷ log(1.08) = t

t = 14 years

__________ is a control mechanism in which organizations make sure that the right people do the right things at the right time.

Answers

The hierarchy of authority is a control mechanism in which organizations ensure that the right people do things at the right time.

What the organizational structure?

It is the set of components that make up the organizational whole, making its structure and systems aligned with its central objective. The structure is composed of three factors:

ComplexityFormalizationCentralization

Therefore, the hierarchy of authority is a part of the centralized organizational structure that will ensure that processes run correctly.

Find out more about organizational structure here:

https://brainly.com/question/2636977

#SPJ1

Suppose the government decides that every family should own its own home. To bring this about, the government decides to subsidize the home-construction industry by giving the home-construction companies $10,000 for every house that they build. As a result of this,

Answers

Answer: the supply curve of new houses would shift rightward, since builders would be willing to produce and sell more houses at each given price.

Explanation:

Since the government decides to subsidize the home-construction industry by giving the home-construction companies $10,000 for every house that they build, then the supply curve of new houses would shift rightward, since builders would be willing to produce and sell more houses at each given price.

Builders will be willing to produce more houses because they'll intend to get the $10000 given by the government and this will be a source of motivation. Therefore, the supply curve will shift to the right.

The management of a diverse group of customers with different needs within the same service setting is called:

Answers

Answer:

expert customer

Explanation:

Answer:

that would be an expert customer

Which will you likely have to provide on college applications?
A. Personal information
B. Career plans
C. Employment history
D. Parent's level of education

Answers

personal information :)

Family Farms Inc., a company which deals in dairy products, adheres to a standard of behavior for its employees, and it follows certain practices that reflect the moral principles and values held by the company and that guide the conduct of the individuals in the company. Which practice is described in this scenario

Answers

Answer:

The right response is "Business ethics".

Explanation:

An ethics framework that always considers the moral standards as well as problems that occur mostly in a corporation but also function as a guide for the behavior of people throughout the organization.Meanwhile, corporation governments facilitate the collection of values and conventions governing as well as controlling the business of the company.

who benefits from a loan?
A - only the person who is given the loan by a bank?
B - only the bank who gives the loan to a person
C - both the person who gets the loan and the bank that loans the money
D - no one benefits when a loan is given out

Answers

Answer:

C

Explanation:

The person gets money to spend, then over time the bank will earn that money back from the same person. So I'd say both benefit.

While some property owners choose to perform both the property and asset manager functions themselves, many commercial property owners choose to employ professional property managers instead. The property manager works under a management contract in which the manager is empowered to serve as the owner's fiduciary. This type of relationship is more commonly referred to as a(n)

Answers

Answer:

agency relationship.

Explanation:

An agency can be defined as a mutual relationship existing between two parties, wherein a principal authorizes the agent to act as the principal's representative or on his behalf (fiduciary role) in dealing with third parties.

Hence, the type of relationship in this scenario is more commonly referred to as an agency relationship.

In an agency relationship, a commercial property owner may choose to employ a professional property manager who is saddled with the responsibility of serving as his or her (owner) fiduciary under a management contract.

Mrs. Young is currently enrolled in Original Medicare (Parts A and B), but she has been working with Agent Neil Adams in the selection of a Medicare Advantage (MA) plan. It is mid-September, and Mrs. Young is going on vacation. Agent Adams is considering suggesting that he and Mrs. Young complete the application together before she leaves. He will then submit the paper application before the start of the annual enrollment period (AEP). What would you say If you were advising Agent Adams

Answers

Answer:

Not good.

Explanation:

Mrs. Young is leaving on vacation in mid-September. Before Mrs. Young departs, Agent Adams is contemplating recommending that he and Mrs. Young finish the registration together.

This is a terrible plan. Prior to the beginning of the AEP, agents are typically barred from soliciting or receiving registration forms.

According to the assumptions of the quantity theory of money, if the money supply increases 5 percent, then a. the price level would be unchanged and real GDP would rise by 5 percent. b. the price level would rise by 5 percent and real GDP would be unchanged. c. both the price level and real GDP would rise by 5 percent. d. both the price level and real GDP would be unchanged.

Answers

Answer:

C

Explanation:

Quantity theory of money : money supply x velocity = price x output

money supply x velocity = nominal GDP

It is assumed that velocity is constant. So, if money supply increases, both the price level and real GDP would rise by 5 percent

f a business wants to sell a product or service on the Internet for the first time, the __________ would need to understand the wide-ranging risks involved as well as the organization's security capability. A. executive committee B. operational risk committee C. compliance committee D. security committee

Answers

Answer:

b

Explanation:

The operational risk committee has the responsibility of maintaining and overseeing the operational risk of an organisation. They are to identify possible operational risks of all the activities of a company and take steps to mitigate and manage such risks

The functions of The operational risk committee includes :

Identify possible risksEvaluate the risks Develop and implement strategies needed to manage the riskEvaluate the risk and strategize implemented regularly

an artist brought a breach of contract claim against a museum...what effects will the dismissal order have

Answers

Answer:

The artist will not be able to refile or restart the same claim again.

Explanation:

The breach in a contract means when one of the party who have entered into an agreement fails to perform or deliver according to the contract terms made in the agreement.

In the context, the dismissal is be able to operate as the adjudication on its merits which [tex]\text{precludes the artist from re-asserting the same claim}[/tex] in some newly filed action. This involuntary dismissal are also prejudice, so that artist will not be able to re-start the same claim in a newly filed action.

If the balance of the cash account is $80,800 at the end of the month, what was the cash balance at the beginning of the month

Answers

Answer:

$38,900

Explanation:

Missing word "During the month, Warwick co, received $332,800 in cash and paid out $280,900 in cash"

Particulars                                Amount

Cash balance at month end   $80,800

Add: Cash paid out                 $280,900

Less: Cash received               $322,800

Beginning cash balance       $38,900

he boss stops providing free coffee to the workers when the monthly sales goal is not met. This is an example of:

Answers

Answer:

Negative incentive

Explanation:

Since in the given situation, the boss does not give the free coffee to the workers at the time when the monthly sales goals are not attained as the boss expect from the workers that they could attain the monthly sales goals and for this they give the salary to them

So this represent the negative incentive example

On March 12, Klein Company, Inc. sold merchandise in the amount of $7,800 to Babson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Klein uses the perpetual inventory system. On March 15, Babson returns some of the merchandise. The selling price of the returned merchandise is $600 and the cost of the merchandise returned is $350. The entry or entries that Klein must make on March 15 is:

Answers

Answer:

Date                 Account Title                                       Debit                  Credit

March 15,         Sales returns and allowances          $600

                         Accounts Receivable                                                     $600

                         Merchandise Inventory                     $350

                         Cost of Goods Sold                                                         $350  

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