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

Resource-limited scheduling is a method fora. developing a schedule that attempts to minimize the fluctuations in requirements for resources.b. making sure all the resources do the same amount of work.c. making sure every task has the same number of resources.d. developing the shortest schedule when the number or amount of available resources is fixed and cannot be exceeded.

Answers

Sorry I can’t find the answer

ASAP PLZ

True or false: $50,000 in Pennsylvania will buy you the same amount of goods as $50,000 would in California.

Answers

Answer:

i think it is true

Explanation:

The given statement is false, that the $50,000 in Pennsylvania will buy up the corresponding amount of goods as $50,000 would in California.

What is dollar?

Dollar is defined as the basic monetary unit that is used in exchange for something. This is the defined as the money value of the US, Australia, Canada and certain countries in the Pacific, SE Asia, Africa, Caribbean, and South America.

Because Pennsylvania is nearly 3.5 times littler than California, the notion that $50,000 will buy the same amount of things in Pennsylvania as it will in California is false.

Therefore, the given statement is false.

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how the business can use creative thinking to solve the problem​

Answers

Answer:

Creative thinking helps you keep your business presence fresh. You'll be able to constantly reinvent your business in order to stay in your customers' awareness. ... Creativity improves your leadership skills. Being an effective leader means being creative in your approach and problem-solving.

IF HELPED MARK AS BRAINLIEST

Many people are paid wages "under the table" or in the
form of cash with no taxes deducted. Do you believe
this is an acceptable practice or unethical? Please
defend your answer.

Answers

I find it to be unethical because it would mean that you aren’t covered by anything. Without a documented form of payment that includes taxes, you won’t be protected by insurance, worker’s compensation, or possibly even your rights as a worker.

Crane Company produces three versions of baseball bats: wood, aluminum, and hard rubber. A condensed segmented income statement for a recent period follows: Wood Aluminum Hard Rubber Total Sales $540000 $230000 $65000 $835000 Variable expenses 340000 170000 58000 568000 Contribution margin 200000 60000 7000 267000 Fixed expenses 75000 35000 22000 132000 Net income (loss) $125000 $ 25000 $(15000) $135000 Assume all of the fixed expenses for the hard rubber line are avoidable. What will be total net income if the line is dropped

Answers

Answer:

the net income in the case when the line is dropped is $150,000

Explanation:

The computation of the net income in the case when the line is dropped is as followS:

= Total net income + fixed cost of hard rubber - contribution margin of the hard rubber

= $135,000 + $22,000 - $7,000

= $150,000

hence, the net income in the case when the line is dropped is $150,000

Johni is the CEO of a struggling company. She has listened to her employee's complaints and concerns about where the corporation is going and has developed a new vision that she feels will help develop a common bond throughout the organization. Johni then hosted a company-wide picnic where she delivered an inspiring speech about the new plans for the business, including her plans for more open communication between management and employees. After her speech, management and employees all participated in trust building exercises and each employee had a one-on-one conversation with Johni. What type of leadership theory most resembles Johni's actions

Answers

Answer: Transformational Leadership

Explanation:

Transformational Leadership could be described as a process where a leader is able to communicate plans, aim and goals with his or her team and they respond with improvement and rapid growth. Their growth was as a result of the leaders effect among them.

Johni can be seen as carrying out a transformational leadership due to she's able to turn around the tide of the with her employees as they now perform better based on her leadership pattern.

A mechanic sued his former employer in federal court, claiming that the employer had discharged him because of his age in violation of federal law. The employer answered, denying the claims and promptly moving for summary judgment. In support of the motion, the employer attached the mechanic's employment evaluations for the past three years, which rated his skills and performance as poor and culminated in a recommendation for his discharge. What is the mechanic's best argument to defeat the summary judgment motion

Answers

Answer:

The essential facts are unavailable to the mechanic and therefore discovery is required. (Civil Procedure-Motions)

Explanation:

In United States law, the motion to be considered as the procedural device so that it brings the limited and contested issue prior a decision could be taken by the court. It is the request that made to the judge for making out the decision for the case also the party that oppose to the motion should be the non-moving party

So as per the given situation, the important facts are not available to the mechanic and so the discovery is needed

General Staff immediately come together and begin developing strategies. General Staff Chiefs are: Evaluating staffing and supervisory needs in the Incident Command Post. Identifying resource shortfalls. Updating planning documents. What NIMS Management Characteristics are you supporting

Answers

Select all that apply.

Common Terminology

Management by Objectives

Incident Action Planning

Manageable Span of Control

Unified Command

Accountability

Answer:

Management by Objectives

Incident Action Planning

Manageable Span of Control

Explanation:

Considering the information given in the question, the NIMS Management Characteristics I am supporting are:

1. Management by Objectives

This is because, by Management by Objectives, the General Staff are making strategies according to the previous objectives.

2. Incident Action Planning

This is because, by Incident Action Planning, the General Staff are revising planning documents that will comprise staffing and resource necessities.

3. Manageable Span of Control

This is because, by Manageable Span of Control, General staff chiefs are assessing staffing requirements in the Incident Command Post. This is to make sure each supervisor only has personnel that can be managed.

Chuong Ngo borrows $2700 from a bank that advertises a 7% simple interest rate and repays the loan in three equal monthly payments. Estimate the APR. Round to the nearest tenth of a percent. Use the Approximate Annual Percentage Rate Formula.

Answers

The estimated Annual Percentage Rate is 10.5%

APR means Annual Percentage Rate.

Annual Percentage Rate refers to the interest rate one pays on a loan each year.

We will use the Annual Percentage Rate(APR) Formula to derive the estimate

APR = 2nr/(n+1) where the P = $2,700, R = 7% and N = 3

[tex]APR = 2*3*0.07 / (3+1)\\APR = 0.42 / 4\\APR = 0.105\\APR = 10.5%[/tex]

In conclusion, the estimated Annual Percentage Rate is 10.5%

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You work for Dr. Zhang, the autocratic dictator of Zhouland. After taking an economics course, you decide that devaluing your currency (Zhoullars) is the way to increase GDP. Following your advice, Dr. Zhang orders massive increases in the supply of Zhoullars, which reduces the value of Zhoullars in world markets. Use the AD-AS model and assume the economy was in long-run equilibrium before this change. Remember to consider only this change as you determine your answers. In the short run, the policy will cause the price level to __________, real GDP to __________, and the unemployment rate to __________.

Answers

Answer: increase; increase; decrease.

Explanation:

Since there's an increase in the supply of Zhoullars, which then reduces the value of Zhoullars in world markets, this will result in the increase in the price level.

The increase in price will be due to the fact that there's more money in circulation as this will lead to inflation. Also, the real GDP will increase as there's more money in circulation to purchase goods and services. This will lead to reduction in unemployment too

Effective controls relevant to purchasing of raw materials should usually include all of the following except Obtaining third-party written quality and quantity reports prior to payment for the raw materials. Determining the need for the raw materials prior to preparing the purchase order. Systematic reporting of product changes that will affect raw materials. Obtaining financial approval prior to making a commitment.

Answers

Answer:

. Obtaining third-party written quality and quantity reports prior to payment for the raw materials

Explanation:

Purchases of raw materials can be regarded as purchases of all commodities that is required as inputs in the process of production as well as related to the supply of factors of production. It should be noted that Effective controls relevant to purchasing of raw materials should usually include; ✓Determining the need for the raw materials prior to preparing the purchase order.

✓Systematic reporting of product changes that will affect raw materials. Obtaining financial approval prior to making a commitment.

An important consideration in experience design is the degree of personal engagement and intimacy customers prefer in their journey with your offerings and brand. Wedding planners who spend time meeting with couples and their families in an effort to develop a highly personal, customized service are pursuing a __________________ approach to customer experiences.

Answers

Answer:

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hi how are you?

Delta is defined as Multiple Choice the change in the value of an option for a dollar change in the price of the underlying asset. the change in the value of the underlying asset for a dollar change in the call price. the percentage change in the value of an option for a 1% change in the value of the underlying asset. the change in the volatility of the underlying stock price. None of the options are correct.

Answers

Answer:

the change in the value of an option for a dollar change in the price of the underlying asset.

Explanation:

Delta is explained in business terms to mean the distribution at which comparison is made between the change in the price of an asset, often sellable securities, to the interconnected change in the price of its by-product.

Hence, considering the available options, DELTA in this case is defined as "the change in the value of an option for a dollar change in the price of the underlying asset."

The full disclosure principle: Multiple Choice Prescribes that accounting information is based on actual cost. Provides guidance on when a company must recognize revenue. Prescribes that a company report the details behind financial statements that would impact users' decisions. Prescribes that a company record the expenses it incurred to generate the revenue reported. Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.

Answers

Answer:

Prescribes that a company report the details behind financial statements that would impact users' decision

Explanation:

The Full Disclosure Principle refers that the information i.e. relevant and significant for understanding the financial statement of the company should be involved at the time of filing in the public company

Also it reports the information behind the financial statement that have an effect on the decision of the users

Therefore the above statement represent an answer

who is responsible for the preparation of the financial statement​

Answers

Answer:

Account manager or chief accountant

Explanation:

Hero Rent-A-Car has been the market leader in auto rentals for many years. Its employees are confident that they understand everything it takes to be successful in the industry and they feel they have nothing to learn from other companies both inside and outside the auto rental industry. Hero likely has what type of corporate culture

Answers

Answer:

Hero has an Insular corporate culture.

Olivia is working with a small group of five coworkers put together by their CEO, Ben. They have been instructed to take care of an inequality in their manufacturing plant. Olivia and her team have the authority to make decisions by themselves without the approval of Ben. Olivia is working in ______.

Answers

Answer:

Both a self-managing team and a problem-solving team.

Shelly, a sales manager at Best Computers, has recently moved from Dallas to Hong Kong for an expatriate assignment. Shelly is feeling disoriented, irritable, and stressed about her new job and living arrangements in Hong Kong, which means that she is most likely experiencing ________.

Answers

Answer:

culture shock

Explanation:

It seems that Shelly is most likely experiencing culture shock. This is a set of feelings that occurs to most individuals when they move to a location that is very different than their home. Since Shelly moved from the US to China and the culture is completely different, it causes Shelly to not feel comfortable in this new location. Individuals experiencing culture shock experience many distinct feelings but ultimately adjust to the new environment and begin getting comfortable in this new location.

Prepare a short report about the importance of hotel management.

Answers

Answer:

Having a hotel management degree can help you get a lucrative entry position in food or beverage service, accounts, restaurant service, executive housekeeping, marketing, or other departments within a hotel

Find out stock value of the company with following dividend plans: $ 3, $ 4, $ 5, $6 , $7 for the first five years, then a final liquidating dividend of $60 at year 6. Assume discount rate for this stock is 15%. Find out the current stock value .

Answers

The current stock price will be $41.77

The current stock value will be the present value of all the dividends over the five years in question and then the present value of the liquidating dividend in the 6th year.

Present value = Dividend / ( 1 + rate) ^ year it was paid

Present value of all the dividends = ( 3 / (1 + 15%)) + (4 / (1 + 15%)²) + (5 / (1 + 15%)³) + (6 / ( 1 + 15%)⁴) + (7 / ( 1 + 15%)⁵) + ( 60 / ( 1 + 15%)⁶)

= $41.77

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On February 15, Symth Co. determines that it cannot collect $500 owed by its customer, A. Winds. Symth records the loss using the direct write-off method. This entry to record the write-off on February 15 would include a: (Check all that apply.) Multiple select question. credit to Accounts Receivable - A. Winds. credit to Bad Debts Expense. debit to Accounts Receivable - A. Winds. credit to Sales. debit to Bad Debts Expense. debit to Sales.

Answers

Answer:

debit to Bad Debts Expense.

credit to Accounts Receivable - A. Winds.

Explanation:

The journal entry to record the write off is given below:

Bad debt expense Dr $500

    To Accounts Receivable - A. Winds $500

(being the written off is recorded)

Here the bad debt expense is debited as it increased the assets and credited the account receivable as it decreased the assets

Adrian's Premium Boxing Service subcontracts with a chocolate manufacturer to box premium chocolates for their mail order catalogue business. Adrian rents a small room for $150 a week in the downtown business district that serves as her factory. She can hire workers for $275 a week. During the week of July 4th, Adrian doesn't box any chocolates. What are her costs during the week

Answers

Answer:

b). $ 150

Explanation:

Given that,

Rent of the room per week = $ 150

Cost or workers for the week = $ 275

To find,

Her costs during the week = ?

Procedure:

The costs during the week would be $ 150

because only the fixed costs(factory rent) would be taken into the application as no chocolates were packed that week.

The other costs are the variable costs that will be determined once the production proceeds and calculated once the week is completed. Therefore, option b is the correct answer.

The Director of Information Technology for the city of Tampa, Florida formed a company to sell computer supplies and software. All purchases made on behalf of the City were made from her company. She was later charged with fraud for overcharging the City, but was not convicted by a jury. The control issue in this case arose because the Director had both ________ and ________ duties.

Answers

Answer:

1. Recording

2. Authorization

Explanation:

Based on the scenario described above, it can be concluded that the control issue, in this case, arose because the Director had both RECORDING and AUTHORIZING duties.

This is because, for the Director of Information Technology for the city of Tampa, Florida not to have been convicted by a jury regardless of what she did, she must have followed the Segregation of Duties accordingly. This is a means of reducing the errors or fraudulent activities of employees.

And given she has a RECORD of transactions to prove her innocence and at the same time, she has AUTHORIZATION or the approval to supply the software, and hence, she is not guilty of the accusation.

Match each concept in Column A with an example in Column B. Column A Column B a. Substitute goods 1. Price and quantity along the supply curve b. A nonprice determinant of demand 2. Tea and coffee c. A nonprice determinant of supply 3. A change in technology d. Mark-up pricing 4. Hunger e. Positive relationship 5. Shoes and shoelaces f. Negative relationship 6. Consumer income g. Inadequacy 7. Price and quantity along the demand curve 24 h. Complementary goods 8. Setting price equal to cost plus 20 percent

Answers

Answer:

a. Substitute goods - Tea and coffee

b. A nonprice determinant of demand - Consumer income

C. A nonprice determinant of supply -  A change in technology

D. Mark-up pricing - Setting price equal to cost plus 20 percent

E. Positive relationship -  Price and quantity along the supply curve

F. Negative relationship -  Price and quantity along the demand curve

G. Inadequacy - Hunger

H Complementary goods - Shoes and shoelaces

Explanation:

Substitute goods are goods that can be used in place of another good.

if the price of a good increases, the demand for the substitute increases and if the price of the good reduces, the demand for the substitute increases.

Complementary goods are goods that are consumed together

The demand curve is a curve that shows the relationship between price and quantity demanded. The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.

Only a change in the price of a good leads to a movement along the demand curve of that good. Also, only a change in the price of the good would lead to an increase or decrease in the quantity demanded of that good.

Other factors other than the change in the price of the good would lead to a shift of the demand curve. Some of those factors include :

1. a change in consumers' expectation

2. a change in the taste of consumers

3. a change in income

There is a positive relationship between price and the quantity supplied. This accounts for why the supply curve is positively sloped.

A change in price of a good leads to a movement along the supply curve and not a shift of the supply curve.

Other factors other than a change in the price of the good would lead to a shift of the supply curve. Such factors include :  

1. A change in the price of input  

2. A change in the number of suppliers  

3. Government regulations  

4. Technological changes

Jill's parents are concerned because she does not have a job despite graduating from college. Her parents tell her that they got jobs right out of high school, so she should be able to get a job very easily. They conclude that she must be lazy. Jill tells them that they need to consider larger economic trends and changes in technology to understand why she is having trouble finding a job. Jill is using __________________ to explain her inability to get a job:

Answers

Answer:

Her sociological imagination.

Explanation:

From the question, we were informed about Jill's parents who were concerned because she does not have a job despite graduating from college. Her parents tell her that they got jobs right out of high school, so she should be able to get a job very easily. They conclude that she must be lazy. Jill tells them that they need to consider larger economic trends and changes in technology to understand why she is having trouble finding a job. Jill is using

Her sociological imagination to explain her inability to get a job. The sociological imagination can be regarded as a practice that involved having ability to “think ourselves away” from some of our daily and familiar routines of our lives, so that see them with critical and new eyes, Sociological imagination is ability gotten by individual to focus away from his/her particular situation then think from other point of view or alternative perspective. Sociological imagination can be regarded from other point of view as capacity of individual to shift his/her thought from one perspective to another perspective.

A municipality is issuing 40,000 bonds at a public offering price of $1,000. The manager of the underwriting syndicate receives $1.50 per bond. The total takedown is $6.50 per bond and the selling concession is $4.00 per bond. Assume the entire issue is sold with the selling group distributing 20,000 of the bonds sold. Calculate the amount of compensation the syndicate will receive for its risk on selling group sales

Answers

Answer:

$50,00

Explanation:

Calculation to determine the amount of compensation the syndicate will receive for their risk on selling group sales.

First step is to determine the Amount receive per bond for their risk.

Using this formula

Amount receive=Total takedown -Selling concession

Let plug in the formula

Amount receive=$6.50 -$4.00

Amount receive=$2.50

Now let determine the amount of compensation the syndicate will receive for their risk

Compensation received =$2.50*20,000 bonds

Compensation received= $50,000

Therefore the amount of compensation the syndicate will receive for their risk on selling group sales is $50,000

What is the difference between a price floor and a price ceiling?

A price floor is the minimum price allowed for a good. A price ceiling is the maximum price allowed for a good.
A price floor is the maximum price allowed for a good. A price ceiling is the minimum price allowed for a good.
A price ceiling below the equilibrium price has no effect.
A price floor above the equilibrium price has no effect.

Answers

Answer:

A price ceiling below the equilibrium price has no effect.

The difference between a price floor and a price ceiling is a price floor is the minimum price allowed for a good. A price ceiling is the maximum price allowed for a good. The correct option is a.

What is price floor?

A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, good, commodity, or service. A price floor must be higher than the equilibrium price in order to be effective.

The equilibrium price, commonly called the "market price", is the price where economic forces such as supply and demand are balanced and in the absence of external influences the values of economic variables will not change, often described as the point at which quantity demanded and quantity supplied are equal. Governments use price floors to keep certain prices from going too low.

Two common price floors are minimum wage laws and supply management in Canadian agriculture. Other price floors include regulated US airfares prior to 1978 and minimum price per-drink laws for alcohol.

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Review Question 1 What is meant by deadweight​ loss? Why does a price ceiling usually result in a deadweight​ loss? Deadweight loss is a​ _____________________. A price ceiling results in a deadweight loss when the ceiling price is set​ ________________ the market clearing price. A. net loss in​ output; above B. net loss of consumer and producer​ surplus; below C. net loss in​ output; below D. net loss of consumer and producer​ surplus; above Click to select your answer and then click Check Answer. All parts showing

Answers

Answer:

b

Explanation:

Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.

Effects of a binding price ceiling

1. It leads to shortages

2. it leads to the development of black markets

3. it prevents producers from raising price beyond a certain price

4. It lowers the price consumers pay for a product.  

The dead weight loss is the reduction in total surplus as a result of price setting. When price is set below equilibrium price, less goods are produced and consumed. This leads to a reduction in consumer and producer surplus

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.

Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product

Fear of heights is known as ​

Answers

Answer:

Acrophobia

Explanation:

Acrophobia sometimes develops in response to a traumatic experience involving heights, such as: falling from a high place. watching someone else fall from a high place. having a panic attack or other negative experience while in a high place.

Again, consider Sharon, a single mother with two children under 18 who earns an annual income of $16,000. Suppose that Sharon qualifies for a
welfare program for single mothers that provides her with $500 cash for each child (a total of $1,000, since Sharon has two children). After receiving
welfare, is Sharon's family living in poverty?

O Yes
O No

Answers

Sharon and two kids makes 3 people total with both kids being under 18, the poverty level from the table is $20,231

She gets $1000 a month for her kids. 1000 x 12 months = $12,000 per year

12,000 + her annual salary = 12,000 + 16,000 = $28,000 per year.

28,000 is greater than 20,231 so she is not living in poverty.

The answer is no

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