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My name is Ann [436]
2 years ago
11

Shawnee Hospital installs a new parking lot. The paving cost $30,000 and the lights to illuminate the new parking area cost $15,

000. Which of the following statements is true with respect to these additions?
a. $30,000 should be debited to the Land account.
b. $15,000 should be debited to Land Improvements.
c. $45,000 should be debited to the Land account.
d. $45,000 should be debited to Land Improvements.
Business
1 answer:
Zarrin [17]2 years ago
6 0

Answer: d. $45,000 should be debited to Land Improvements.

Explanation:

Land improvements records any moderation to land asset that is expected to add to its value and lasts for more than a year.

The paving and lighting of the parking area will add value to the area and will last longer than a year so both should go to the Land improvement account. As this account is an asset account, it will be debited when increased:

= 30,000 + 15,000

= $45,000

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Answer:

a. a face-to-face conversation.

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Kohl Co, provides warranties for many of its products. The January 1, 2019, balance of the Estimated Warranty Liability account
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Answer and Explanation:

The computation is shown below;

a. For Warranty Expense

= Sales × Estimated Warranty Percentage%  

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= $36,056.28

b)

The amount that should be reported is

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Add: Warranty expense accrued in 2019 $35,056

Closing  Balance of Estimated Warranty Liability Dec. 31, 2019 $50,941

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Majestic Corporation manufactures wheel barrows and uses budgeted machine hours to allocate variable manufacturing overhead. The
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Ksivusya [100]

3)

Jorge Rodrigues annual salary is:

S=\$48,000

We know that 1 year consists of 12 months, so the gross wage per month can be obtained by dividing the annual salary by 12:

\frac{S}{m}=\frac{48,000}{12}=\$4,000

1 year also contains 52 weeks, so the gross wage per week is obtained by dividing the annual salary by 52:

\frac{S}{w}=\frac{48,000}{52}=\$923

Finally, 1 year contains 26 bi-week periods, so the gross wage per bi-week period is:

\frac{S}{b}=\frac{48,000}{26}=\$1846

4)

In this part, we know that Lexi's salary per month is:

s=\$1600

We know that 1 year consists of 12 months: therefore, the annual salary contains 12 monthly salary, so we can write

S=ns

where

n = 12 is the number of months

S is the annual salary

Substituting s, we find:

S=(12)(1600)=\$19,200

5)

Here the Monthly salary of Ryo is

s=\$2200

So her annual salary is the monthly salary multiplied by 12:

S=ns=(12)(2200)=\$26,400

Then Ryo has been offered a raise of $250 per month, so her new salary per month will be

s'=2200+250=\$2450

Therefore, her new annual salary will be

S'=ns'=(12)(2450)=\$29,400

So, the amount that Ryo will earn more per year is:

\Delta S=S'-S=29,400-26400=\$3000

6)

Being paid salary means that we are paid with a fixed regular payment, usually paid every month.

Being paid by hourly rate instead means that we are paid a fixed amount for every hour of work: therefore, the total monthly salary will depend on the number of hours of work.

Therefore, the main advantages/disadvantages are the following:

- Advantage of being paid salary: the payment is fixed, therefore it is independent on the number of hours worked - so even if one month we work less hours, we still receive the same pay

- Disadvantages: the salary is fixed and cannot be increased by working more - in fact, in the hourly payment, by working more hours it is possible to earn more.

7)

In this problem, the amount of the check in the restaurant is

c=\$340

The customer decides to leave a 20% tip, which corresponds to \frac{20}{100} of the amount of check.

Therefore, we can write the amount of the tip left as

t=\frac{20}{100}c

Simplifying, we get

t=\frac{1}{5}c

And by substituting c = 340, we find the tip left:

t=\frac{1}{5}(340)=\$68

8)

In this problem, Sandra is paid per day.

Her pay per day is

d=\$95

Which means that she is paid 95 dollars per day.

In this month, Sandra has worked for

n = 22 days

Therefore her total earning for this month will be

T=nd

and substituting n = 22 and d = 95, we find:

T=(22)(95)=\$2090

9)

First of all, we have to find the total number of pieces produced by summing the number of pieces produced each day.

For Zinke, the total number of pieces produced is:

n = 54 + 55 + 59 + 62+ 60 =  290

The price per piece produced is

p = $1.60

Therefore, the gross pay is equal to the number of pieces times the price per piece:

P=np=(290)(1.60)=\$464

Then we have to repeat the exercise for Bello. The total number of pieces produced is:

n = 24 + 28 + 30 + 31 + 27 = 140

The price per piece is

p = $2.80

So, the gross pay is:

P=np=(140)(2.80)=\$392

10)

Here the fare for the whole drive was

f = $19.30

However, Steve gave the driver a total of 20$. This means that the tip gave by Steve to the driver is

t=20\$ - 19.30\$ = 0.70\$

Here we are asked to determine if the tip is adequate, generous or not enough. In order to evaluate this, we have to calculate what is the tip in % with respect to the fare.

It is:

\frac{t}{f}\cdot 100 = \frac{0.70}{19.30}\cdot 100 =3.6\%

The tip is 3.6% of the fare: therefore, the tip is not enough (an adequate tip can be considered between 10 and 20 %).

7 0
2 years ago
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