A company purchases a remote building site for computer operations. The building will be suitable for operations after some expenditures. The wiring must be replaced to computer specifications. The roof is leaky and must be replaced. All rooms must be repainted and recarpeted and there will also be some plumbing work done. Which of the following statements is true?a. The cost of the building will not include the repainting and recarpeting costs.b. The cost of the building will include the cost of replacing the roof.c. The cost of the building is the purchase price of the building, while the additional expenditures are all capitalized as Building Improvements.d. The wiring is part of the computer costs, not the building cost.

Answers

Answer 1

Answer:

Answer:

B. The cost of the building will include the cost of replacing the roof.

Related Questions

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The following work-in-process inventory information is provided for a company: All direct materials are added at the beginning of the production process. Beginning inventory is 70% complete for conversion, and ending inventory is 40% complete for conversion. Units 8,000 Direct Materials Costs $11,000 $74,000 Conversion Costs $29,000 $161,000 Beginning work in process Cost added Ending work in process Units completed/transferred 12,000 33,000 What is the total production cost of the ending work in process using weighted average process costing?
On December 31, 2021, Larry's Used Cars had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $70,000 and $1,250, respectively. During 2022, Larry's wrote off $2,675 in accounts receivable and determined that there should be an allowance for uncollectible accounts of $5,650 at December 31, 2022. Bad debt expense for 2022 would be:
Consider the following activities that take place in a veterinary clinic.(a) Cleaning cages.(b) Heating and air conditioning the clinic.(c) Sending blood work to a lab.(d) Dispensing medicine.Which of the following statements is true?A. Heating and air conditioning the clinic is a facility level activity.B. Dispensing medicine is a facility level activity.C. Cleaning cages is a facility level activity.D. Sending blood work to a lab is a facility level activity.E. Service entities cannot use ABC for overhead allocation.
Segment management is best suited for: _____________ a. small-to-medium businesses b. large businesses c. businesses who already identify customers individually and differentiate them by value d. businesses who do not yet identify or differentiate their customers individually e. a, b, and c f. a, b, and d

Lumeris Inc., an automobile manufacturer, has an inflexible work schedule and requires its workers to work nine hours a day and six days a week. Its laborers do not have adequate skills to perform their job efficiently. The inflexible work schedule and inadequate labor skills are examples of _____.a. physical constraints
b. nonphysical constraints
c. bottleneck activities
d. work order

Answers

Answer:

The correct answer is letter "B": nonphysical constraints.

Explanation:

According to the Theory of Constraints (TOC) a constraint is a limiting factor that does not enable companies to perform their work at their maximum capacity for their goals' achievement. In the same sense, nonphysical constraints are not material factors negatively influencing employees' actions. Wages cuts, reduction of benefits, unclear lines of command are examples of that kind of constraint.

A company has the following per unit original costs and replacement costs for its inventory: Part A: 5 units with a cost of $5, and replacement cost of $4.00 Part B: 10 units with a cost of $6, and replacement cost of $7.00 Part C: 10 units with a cost of $3, and replacement cost of $2.00 Using the lower of cost or market method applied to the individual items, the total value of this company's ending inventory is: (A) $100.00
(B) $125.00
(C) $110.00.
(D) $115.00.

Answers

Answer:

Option (A) is correct.

Explanation:

Part A:

Cost = No. of units × cost per unit

= 5 × $5

= $25

Replacement cost = No. of units × cost per unit

= 5 × $4

= $20

Value to be recognized = $20

Part B:

Cost = No. of units × cost per unit

= 10 × $6

= $60

Replacement cost = No. of units × cost per unit

= 10 × $7

= $70

Value to be recognized = $60

Part C:

Cost = No. of units × cost per unit

= 10 × $3

= $30

Replacement cost = No. of units × cost per unit

= 10 × $2

= $20

Value to be recognized = $20

Therefore,

Value of Ending inventory = Sum of recognized value of all the three parts

= $20 + $60 + $20

= $100

Hence, the total value of this company's ending inventory is $100.

The Fabricating Department started the current month with a beginning Work in Process inventory of $11,100. During the month, it was assigned the following costs: direct materials, $77,100; direct labor, $25,100; and factory overhead, 70% of direct labor cost. Also, inventory with a cost of $114,500 was transferred out of the department to the next phase in the process. The ending balance of the Work in Process Inventory account for the Fabricating Department is:a.$16,370.

b.$113,300.

c.$83,839.

d.$198,339.

e.$68,970.

Answers

Answer:

a.$16,370.

Explanation:

beginning WIP cost: 11,100

cost added during the period

materials 77,100

direct labor 25,100

overhead 70% of DL = 17,570

total added 119,770

Total cost to be accounted for: 130,870

Cost assignned to

transferred out 114,500

ending WIP 16.370‬

Total cost assigned to 130,870

As the cost to be accounted and the cost assigned to should match we contruct that and solve for the ending WIP

Stephanie manages the accounting department at an advertising agency. She needs to conduct performance appraisals for the eight employees in her department. Stephanie wants a performance appraisal tool that is highly accurate, ranks employees, and uses critical incidents to help explain ratings to appraisees. Which performance appraisal tool is best suited for Stephanie?

Answers

Answer:

The correct answer is behaviorally anchored rating scale.

Explanation:

The behavior-based rating scale is a performance appraisal method that combines elements of the traditional rating scale and critical incident methods. In this, various levels of performance are presented along with a scale that describes them regarding the specific work behavior of an employee.

What is a service? Can services be differentiated as consumer services and industrial services? (AACSB: Communication; Reflective Thinking)

Answers

Answer:

service is doing work to someone,:

----is supplying public a public needs example: tramsport

-----is emplyment as a servant

-------perios of employment with company or organization

Prepaid Rent. On September 1 of the current year, the company prepaid $44,400 for two years of rent for facilities being occupied that day. The company debited Prepaid Rent and credited Cash for $44,400.Prepaid RentStep 1: Determine what the current account balance equals.

Step 2: Determine what the current account balance should equal.

Step 3: Record the December 31 adjusting entry to get from step 1 to step 2