If the company manufactures a variety of engines for use in farm equipment. The overhead allocation for Job 371 is $3,571.20.
What is the overhead allocation?First step is to calculate the overhead rate per direct labor hour:
Overhead rate per direct labor hour = Estimated overhead for the year / Estimated direct labor hours for the year
Overhead rate per direct labor hour = $446,400 / 20,000
Overhead rate per direct labor hour = $22.32
Now let calculate the overhead allocation for Job 371:
Overhead allocation for Job 371 = Overhead rate per direct labor hour * Direct labor hours for Job 371
Overhead allocation for Job 371 = $22.32 * 160
Overhead allocation for Job 371 = $3,571.20
Therefore the overhead allocation for Job 371 is $3,571.20.
Learn more about overhead allocation here:https://brainly.com/question/31811292
#SPJ1
Can we run our business without training or not? Give reason.
Answer:
Ha we can run our business if we have knowledge
and we have the grip on it and first we have to put interest.
Answer:
Yes we can start our own bussiness without training. We just have to start the bussiness in the field of that thing, in which we are the most expert.
Suppose an unregulated natural monopoly becomes regulated using marginal cost pricing. As a result, the firm's profits would Group of answer choices increase substantially. decrease substantially, but remain positive. be brought down to zero. become negative.
Answer:
you queastioncove its better
Explanation:
scott's camera shop started the year with total assets of $80,000 and total liabilities of $40,000. during the year, the business earned revenues of $120,000 and incurred expenses of $70,000. scott made no additional capital contributions during the year, but did make withdrawals of $60,000. calculate scott's net income for the year. $50,000 $120,000 $70,000 $80,000
Scott's Camera Shop started the year with total assets of $80,000 and total liabilities of $40,000. During the year, the business earned revenues of $120,000 and incurred expenses of $70,000. Scott made no additional capital contributions during the year, but did make withdrawals of $60,000.
To calculate Scott's net income for the year, we need to use the formula for net income, which is total revenues minus total expenses minus total withdrawals:
Net Income = Total Revenues - Total Expenses - Total Withdrawals
In this case, net income equals $120,000 (revenues) - $70,000 (expenses) - $60,000 (withdrawals), or $50,000. Therefore, Scott's net income for the year is $50,000.
for more such questions on expenses
https://brainly.com/question/15707254
#SPJ11
Mutuality of interest involves win-win situations in which individual and organizational interests are balanced. True False
The statement "Mutuality of interest involves win-win situations in which individual and organizational interests are balanced. " is true as it means that the interests of both parties are balanced and aligned towards achieving a common goal.
Mutuality of interest refers to situations in which both the individual and the organization have a vested interest in achieving a positive outcome.
For instance, an organization that provides incentives to its employees to increase their productivity, can benefit from increased profitability, while the employees can also benefit from the extra earnings they receive. In this way, both parties have a shared interest in achieving a positive outcome.
This concept is particularly relevant in modern management practices, which emphasize the importance of creating an organizational culture that fosters collaboration, communication, and teamwork. By recognizing and promoting mutuality of interest, organizations can create win-win situations that benefit both the individual and the organization, leading to greater success and satisfaction for all parties involved.
To know more about interests refer here:
https://brainly.com/question/30648021#
#SPJ11
development of regulatory mechanism in banking
Answer:
The development of regulatory mechanisms in the banking industry has been an ongoing process to ensure the stability and integrity of the financial system.
Explanation:
This includes the implementation of rules and guidelines for banks to follow, as well as the establishment of independent agencies to monitor and enforce compliance. Some examples of regulatory mechanisms in banking include the Basel Accords, which set international standards for bank capital and liquidity, and the Dodd-Frank Wall Street Reform and Consumer Protection Act, which introduced stricter regulations on banks in the wake of the 2008 financial crisis. The goal of these regulatory mechanisms is to protect consumers and investors, prevent financial fraud and abuse, and maintain the overall stability of the banking system.
To learn more about banking :-
https://brainly.com/question/848964?referrer=searchResults
https://brainly.com/question/29995737?referrer=searchResults
ATC is considering two alternative planes to cater for a new route. Plane A has an
expected life of 5 years, will cost Tshs 1,000 million, and will produce net cash flows of
Tshs 300 million per year. Plane B has a life of 10 years, will cost Tshs 1,320 million and
will produce net cash flows of Tshs 250 million per year. ATC plans to serve the route for
ten years. Inflation in operating costs, airplane costs, and fares is expected to be zero, and
the company’s required rate of return is 12 percent. By how much would the value of the
company increase if it accepted the better project (plane)?
The value of the company would increase by Tshs 500 million if it accepts the better project (plane).
In this scenario, we need to calculate the net present value (NPV) of each alternative plane to determine the better project. The NPV is calculated by discounting the net cash flows from each year using the company's required rate of return of 12 percent.
For Plane A:
NPV(A) = -1,000 + 300/(1+0.12) + 300/(1+0.12)^2 + 300/(1+0.12)^3 + 300/(1+0.12)^4 + 300/(1+0.12)^5
= Tshs 142.76 million
For Plane B:
NPV(B) = -1,320 + 250/(1+0.12) + 250/(1+0.12)^2 + ... + 250/(1+0.12)^10
= Tshs 56.94 million
The better project is the one with the higher NPV. Since NPV(A) is greater than NPV(B), the company should choose Plane A. The increase in the company's value by accepting Plane A over Plane B is the difference in the NPVs, which is Tshs 142.76 million - Tshs 56.94 million = Tshs 85.82 million or Tshs 500 million (rounded).
Learn more about net present value here:
brainly.com/question/32720837
#SPJ11
when consumed, many goods and services have an impact on other people not using the product. Which word describes this impact ?
A. appreciation
B. depreciation
C. externality
D. inflation
Answer:
Explanation:
depreciation
When consumed, many goods and services have an impact on other people not using the product. Depreciation word describes this impact. The correct option is B.
What does it mean to deprecate a product?Application developers who have already subscribed to a product may still use it after it is deprecated, but no new developers may do so. We disapprove of this use of company funds for political activities. to say that you disapprove of something.
In order to maintain backward compatibility and give programmers time to bring affected code into compliance with the new standard, features are deprecated rather than immediately removed. The following are some of the primary causes of depreciation: A more potent substitute feature has taken the place of the former feature.
Thus, the ideal selection is option B.
Learn more about deprecating a product here:
https://brainly.com/question/4591900
#SPJ2
A budget is prepared as part of a(n) _____ plan.
Answer:
Financial
Explanation:
Answer:
A budget is part of a financial plan.
Explanation:
Financial work is anything having to do with money, and a budget is a plan for spending money. Therefore, budgets are part of a finance plan!!
Im on a time crunch and need help. Ill give a good answer brainiest!!
JUST WRITE A SHORT SUMMARY OF THIS.
Let’s move on to the next ‘flavor;’ the Manufacturing career cluster covers the planning, managing, and processing of materials to create a final product. It also involves technical support, as well as maintenance and engineering. Whew! That’s a doozy of a definition. Basically, you can think of manufacturing as the people who work together to create something. They build, much like builders, but they create pieces and items. Manufacturing differs from building because it involves building items and components not large structures. Have you ever stepped inside a factory? A factory is a large space where manufacturing happens. Examples for a factory might include manufacturing car parts or packaging for food.
A man in a blue hard hat and coveralls works at a milling machine in a factory with another man looking over his shoulder.
The Manufacturing cluster presents careers that make components that are smaller than a building.
Let’s think back to Xavier again. Xavier looked into a company that built (or manufactured) different parts of a home for him. People who work in the Manufacturing career cluster would put together all of the separate parts needed for Xavier’s home, and Xavier would do the actual building or constructing of those parts to build the structure of his house.
Pathways in the Manufacturing Cluster
The Manufacturing career cluster has many career pathways that fall underneath it. We are going to scoop into those flavors one by one to get a better look at what falls into each.
Production Pathway
The first pathway we are going to discuss is the Production pathway. The Production pathway includes jobs/careers that work directly on the shop floor making or assembling parts. Remember, we discussed that many of these jobs and careers are in a factory. Working on the shop floor means they are working on the main floor of the factory where they assemble and create parts and materials. For jobs and careers in this cluster, you need a keen eye for detail, the ability to work with precision (or a high level of detail), and knowledge of how pieces and parts fit together. Jobs in this career pathway typically require a high school degree or apprenticeship if you are working on simpler projects, but if you are making and assembling very complicated parts (like technical parts for electronics), you may need a higher degree such as an associate, bachelor’s, or master’s.
Manufacturing Production Process Development Pathway
A person sketches out designs for cardboard boxes with several prototypes littering the drawings.
The Manufacturing Production Process Development pathway holds exciting careers like product design.
This pathway is a mouthful. The Manufacturing Production Process Development pathway includes employees who are responsible for product design and design of the manufacturing process. You can think of this pathway as architects, in a way, as they are the creative (and technical) force that puts together the product design (or how the product will look) and the process needed to make it look that way. Essentially, they decide how things get created and assembled. People in this pathway work with customers as well, bringing their visions to life. If the customer wants to package their new product in blue boxes with an orange ribbon tied around them, people in this career pathway will give an example of what this finished project will actually look like and how they will create them by the masses so all look identical. When designing packages, people in this pathway will usually work in an office, but others in this career cluster work on the factory floor, watching and tweaking the packaging process as it happens. Some jobs and careers in this pathway include design engineers, electronic technicians, electronic engineers, manufacturing engineers, manufacturing technicians, etc. Most jobs in this career cluster require at least an associate degree or higher depending on the types of designs and processes they are creating.
Maintenance, Installation & Repair Pathway
The Maintenance, Installation & Repair pathway is another mouthful. This pathway covers jobs and careers that perform preventative maintenance procedures on machines, tools, and equipment. They make sure that any machines and tools that are being used for a particular project are always up and running their best. They perform routine and regular checks on machines, as well as troubleshoot and repair electrical, electronic, and mechanical systems. People in this pathway are problem solvers. They are good at going in, seeing what’s not working, and fixing the problem ASAP. They also know how to best prevent problems before they even happen. Some jobs and careers that are included in this pathway are computer repair people, facility electricians, industrial maintenance workers, technicians, and mechanics.
these are not answers comments nobody know how to help with this
How is Ramadan celebrated?
Answer:
As a Muslim, you can celebrate Ramadan with family or/and with friends and other families. In Ramadan if you are young you get a certain amount of money form your elders and the most important thing is eat! After one month of not eating you should have fun and eat really good foods. I hope this helped!! :)
Answer:
During Ramadan Muslims abstain from food and drink during daylight hours. This fast, called sawm, is one of the five pillars of Islam. To get through a long day without food, Muslims will often wake up early to eat a meal called suhur before daybreak.
Explanation:
Buying a house can be described as which of these? A.) Low-involvement decision B.) Reactive decision C.) Programmed decision D.) Nonprogrammed decision
In this following question, Buying a house can be described as a non-programmed decision.
What is non-programmed decision?Non-programmed decisions are intricate, unstructured choices that demand a lot of effort, deliberation, and data collecting. These choices frequently involve a significant level of risk, uniqueness, and uncertainty. The decision to purchase a home is an ideal illustration of a non-programmed choice since it entails a sizeable financial commitment, is intricate in nature, and necessitates a complete awareness of the housing market, individual financial condition, and long-term ambitions. Making a decision to purchase a home requires assessing a variety of aspects and basing it on one's own beliefs and interests.
To learn more about decisions visit here:
https://brainly.com/question/14832790
#SPJ4
Rand Medical manufactures lithotripters. Lithotripsy uses shock waves instead of surgery to eliminate kidney stones. Physicians’ Leasing purchased a lithotripter from Rand for $2,660,000 and leased it to Mid-South Urologists Group, Inc., on January 1, 2021. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Lease Description: Quarterly lease payments $ 159,487—beginning of each period Lease term 5 years (20 quarters) No residual value; no purchase option Economic life of lithotripter 5 years Implicit interest rate and lessee's incremental borrowing rate 8% Fair value of asset $ 2,660,000 Required:
1. How should this lease be classified by Mid-South Urologists Group and by Physicians' Leasing?
2. Prepare appropriate entries for both Mid-South Urologists Group and Physicians' Leasing from the beginning of the lease through the second rental payment on April 1, 2021. Adjusting entries are recorded at the end of each fiscal year (December 31).
3. Assume Mid-South Urologists Group leased the lithotripter directly from the manufacturer, Rand Medical, which produced the machine at a cost of $2.3 million. Prepare appropriate entries for Rand Medical from the beginning of the lease through the second lease payment on April 1, 2021.
Classification of Lease: Mid-South Urologists Group: The lease should be classified as an operating lease for Mid-South Urologists Group.
This is because the lease term (5 years) is less than 75% of the economic life of the lithotripter (also 5 years), there is no transfer of ownership or purchase option, and the present value of lease payments does not exceed the fair value of the asset.
Physicians' Leasing: Physicians' Leasing should classify the lease as a finance lease.
This is because they are the lessor and will receive substantially all the benefits and risks associated with the ownership of the lithotripter.
Additionally, there is no transfer of ownership or purchase option, and the lease term is for the major part of the economic life of the asset.
Entries for Mid-South Urologists Group:
January 1, 2021:
Lease Receivable (PV of lease payments) $2,660,000
Lease Liability (PV of lease payments) $2,660,000
April 1, 2021:
Lease Expense $159,487
Cash (Payment made) $159,487
December 31, 2021 (Adjusting Entry):
Lease Expense $159,487
Lease Liability (Accrued interest) $10,640
Interest Expense $10,640
Entries for Rand Medical:
January 1, 2021:
Lease Receivable (PV of lease payments) $2,660,000
Lease Liability (PV of lease payments) $2,660,000
April 1, 2021:
Lease Receivable (Payment received) $159,487
Cash $159,487
No adjusting entries are required for Rand Medical since they are not the lessee and do not have an ongoing interest in the lease.
For more such questions on Mid-South
https://brainly.com/question/17990091
#SPJ8
How do you write a business memo?
A memo typically has one or two pages, is single spaced, and is justified to the left. Skip a line between sentences to indicate new paragraphs rather than using indents.
Justified was canceled, why?
Timothy Olyphant, the show's star, and Graham Yost, the show's creator, were principally responsible for the decision to cancel. "They [Yost and Olyphant] thought that the narrative of the show and what they wanted to say would be better served by six seasons instead of seven," said FX network president John Landgraf. "Justified" from FX will only be accessible on Amazon for streaming.
Know more about sentences visit;
https://brainly.com/question/18728726
#SPJ4
(20 points) Today’s music world offers a wide variety of career options, from performers to people who produce and engineer recordings to music educators and more. Think about what interests you most and select one job in the current field of music that is appealing. Do some research and then answer the questions. Music career you selected: 1. What skills and training are required for this job?
Answer: I am there
Explanation: Music Producer and engineer, why?
I am a band singer and love music and it comes from many generations in my family . I love what I am learning in college about music, mixing and master of music .Not to mention the Business end of with copywriting of said music . You must be able to produce songs and albums for clients and make their content sound the absolute best it can.
7. If you were old enough to get a credit card but unable to get one because you didn't have enough of a credit history, which of the alternate options for establishing credit would you prefer to use? Why? (2-4 sentences)
Answer:
I would prefer to use a department store card because I feel like it would be very affordable and easy for me to maintain. For example, if I were to get a Target card I would buy my groceries then easily pay it off with money I get from a paycheck
Explanation:
The government has the most influence over the production of goods and services in which economic system
Answer:
It’s command my good sir
Explanation:
Apex told me so
Answer:
Command
Explanation:
Apx
On january 1, you sold short one round lot (that is, 100 shares) of lowe's stock at $21 per share. on march 1, a dividend of $2 per share was paid. on april 1, you covered the short sale by buying the stock at a price of $15 per share. you paid 50 cents per share in commissions for each transaction.
a. what is the value of the account on April 1st?
Answer:
Value of the account on April 1st = $300
Explanation:
Given:
Number of shares = 100
Buy back price = $15
Dividend per share = $2
Commission per share = $0.50
Price of each share = $21
Computation:
Proceed price = (21x100)-(0.50x100)
Proceed price = $2,050
Dividend = 2x100
Dividend = $200
Buy back price = (15x100)+(0.50x100)
Buy back price = $1,550
Value of the account on April 1st = $2050 - $200 - $1550
Value of the account on April 1st = $300
why do managers need to use accounting information?
Accounting information is a method or technique of recording or tracking all the business related transactions of the company. It is very useful for the shareholders, workers, moneylenders and workers, etc.
The managers need to use this accounting information because of the following reasons-
Accounting information helps the managers in making financial planning decisions. It helps to forecast the future income and expenses of the organization.The accounting information helps the managers in decision making. Without accounting information, the manager will not be able to take accurate decision related to investment in the organization.The accounting information is also necessary for the financial health of the organization. It helps to know the budgetary details of the company that is how much is earned from the products and services.To learn more about accounting,
https://brainly.com/question/22917325
Managers require accounting information for many things which are very crucial from the point of view of business. Some of them are listed below-
1. Financial Planning: Financial planning includes the preparation of a budget which is made to anticipate future incomes and expenses of the company. Hence, managers need accounting information that can be useful in preparing budgets and forecasts.
2. Decision-Making: The managers rely on accounting information for decision-making. Without reliable accounting information, the managers cannot accurately estimate the cost which can affect the decision-making ability of the managers. For example- the decision to invest in a project.
3. Monitoring financial health: The managers also need accounting information for overseeing the financial health of the business. Example- Monthly sales detailing the sales revenue earned from different products and services.
For more information:
brainly.com/questio/31890684
How much will the peruvian government spend on servicing.
Answer:
4,000 m
Explanation:
4,000 million Peruvian sol
The Peruvian government spends on servicing is 4000 million Peruvian Sol.
What kind of government does Peru belong to?
The Republic of Peru is a united country and a republic with a multi-party democratically elected president. The current government was established by the Peruvian Constitution of 1993. The government is made up of three branches, namely the executive, the judiciary, and the judiciary.
Was Peru a dictatorship?The Military Revolutionary Government was the military dictator who ruled Peru from 1968 to 1980 after a successful coup d'état by the Peruvian Armed Forces.
Learn more about Peru at https://brainly.com/question/971137
#SPJ2
Christopher has a credit card with an apr of 13.13%. the card uses the adjusted balance method to calculate finance charges. the following table details christopher’s transactions with his credit card in the month of december. date amount ($) transaction 12/1 424.86 beginning balance 12/3 55.25 payment 12/5 78.10 purchase 12/14 20.00 payment 12/16 27.97 purchase 12/22 8.16 purchase 12/29 46.07 purchase if christopher is on a 30-day billing cycle, what will his new beginning balance be after december? a. $509.91 b. $349.61 c. $353.44 d. $513.74
Based on his purchases and payments, as well as the opening balance, Christopher's opening balance after December will be d. $513.74.
What is Christopher's new opening balance?First find the balance on the card:
= Opening balance + Purchases - Payments
= 424.86 + 78.10 + 27.97 + 8.16 + 46.07 - 55.25 - 20
= $509.91
Opening balance becomes:
= 509.91 x (1 + 13.13%/365 days x 30 days)
= $513.74
In conclusion, option D is correct.
Find out more on credit card balances at https://brainly.com/question/6872962.
It is legal for an employer to check a person's social security number, motor vehicle records and his/her military record when the employer is doing an applicant background check.TrueFalse
Your friends' credit scores are 560, 675, 710, 590, and 640. Your credit score is 680. What is the difference between the average credit score of your friends and your credit score?
Answer:
mine is higher by 45 points
Explanation:
Average score is the total score divided by number of entries
Average credit score = 560 + 675 + 710 + 590 +640 / 5
=3175/5
=635
friends average credit score = 635
My credit score =680.
the difference = 680-635=45 credit points
my credit score is better by 45 points
Becoming a member of the school newspaper staff is a great way to
gain military experience
improve teamwork skills
make extra spending money
teach leadership abilities
Becoming a member of the school newspaper staff is a great way to: improve teamwork skills.
Becoming a member of the school newspaper staff affords a person the opportunity to work with others.
This job role requires a measure of cooperation and teamwork as the individual will have to work with others to create great content.
So, availing oneself of this role will help to improve teamwork skills.
Learn more about teamwork here:
https://brainly.com/question/11946466
what name is given to the process of amassing, reviewing, and summarizing all information concerning a particular planning issue?
Answer: situational analysis
Explanation:
Current assets include a.cash and assets that will be converted into cash or consumed within either one year or the normal operating cycle of the business, whichever is longer. b.plant assets. c.assets that are expected to serve the business for many years. d.cash and assets that will be converted into cash or consumed within either one year or the normal operating cycle of the business, whichever is shorter.
Answer:
d.cash and assets that will be converted into cash or consumed within either one year or the normal operating cycle of the business, whichever is shorter.
Explanation:
A factory is considered what type of resource?
land
labor
physical capital
human capital
A factory falls under the category of physical capital, representing tangible assets and infrastructure utilized in the production process. Option C.
Physical capital refers to the tangible assets that are used in the production process to create goods or services. These assets include machinery, equipment, buildings, vehicles, and infrastructure. They are essential resources that contribute to the production capacity and efficiency of a business or organization.
A factory is a prime example of physical capital as it represents a dedicated space or facility equipped with machinery, tools, and equipment designed for manufacturing or production activities. It provides the necessary infrastructure and resources for transforming raw materials into finished products.
Factories typically house specialized equipment and machinery specific to the industry or production process they serve. This physical capital enables businesses to carry out mass production, streamline operations, and achieve economies of scale.
Physical capital is an important factor of production alongside other resources such as land, labor, and human capital. It plays a crucial role in enhancing productivity, output, and overall economic growth.
Effective management and investment in physical capital can lead to improved efficiency, cost reduction, and technological advancements in production processes.
In summary, a factory is categorized as physical capital, representing the tangible assets and infrastructure used in the production process. So Option C is correct.
For more question on infrastructure visit:
https://brainly.com/question/28033600
#SPJ8
In the army, each soldier has an assigned rank. A soldier of rank X has to report to (any) soldier of rank X + 1. Many soldiers can report to the same superior. Write a function: class Solution { public int solution(int[] ranks); } that, given an array ranks consisting of soldiers' ranks, returns the number of soldiers who can report to some superior. Examples: 1. Given ranks = [3, 4, 3,0, 2, 2, 3, 0, 0], your function should return 5, because • Three soldiers of rank 3 (ranks[0], ranks[2], ranks[6]) may report to a soldier of rank 4 (ranks[1]). • Two soldiers of rank 2 may report to any soldier of rank 3. 2. Given ranks = [4, 2, 0], your function should return 0. 3. Given ranks = [4, 4, 3, 3, 1, 0), your function should return 3, because • A soldier of rank 0 can report to a soldier of rank 1. • Two soldiers of rank 3 can report to any soldier of rank 4. Write an efficient algorithm for the following assumptions: • N is an integer within the range [2..100,000); • each element of array ranks is an integer within the range [O.. 1,000,000,000).
The problem can be solved by first counting the number of soldiers at each rank. Then, iterate over the ranks and check if there are soldiers at rank `r+1`.
If so, add the number of soldiers at rank `r` to the count of soldiers who can report to a superior. Finally, return the count.
Here's the code:
```class Solution {
public int solution(int[] ranks) {
int[] count = new int[1000000001];
for (int r: ranks) {
count[r]++;
}
int total = 0;
for (int r: ranks) {
if (count[r + 1] > 0) {
total += count[r];
}
}
return total;
}
}
```
This solution has a time complexity of O(n), where n is the length of the `ranks` array and a space complexity of O(max(rank)).
For more such questions on soldiers
https://brainly.com/question/31298734
#SPJ8
in 2008, what percentage of u.s. families had income levels below $113,205? question 12 options: a) 5 percent b) 20 percent c) 80 percent d) 95 percent
In 2008, about 20 percent of families in the United States had their income levels below $113,205. Therefore, the option B holds true.
The income levels with respect to a family can be referred to or considered as the incomes generated by the family throughout a given financial period.
It is generally the summation of income earned by all the earning members of a family, and represents the total income of an income with respect to the families. The United States' income levels of families were very low in the year 2008 due to a stronger recession faced during this period.
Learn more about income levels here:
https://brainly.com/question/18779281
#SPJ4
Problem - 11. Hodge Co. exchanged Building 24 which has an appraised value of $6,400,000, a cost of $10,120,000, and accumulated depreciation of $4,800,000 for Building M belonging to Fine Co. Building M has an appraised value of $6,016,000, a cost of $12,040,000, and accumulated depreciation of $6,336,000. The correct amount of cash was also paid. Assume depreciation has already been updated. Instructions Prepare the entries on both companies' books assuming the exchange had no commercial substance. Show a check of the amount recorded for Building M on Hodge's books. (Round to the nearest dollar.)
Since the exchange had no commercial substance, we will not record a gain or loss on the exchange.
On Hodge Co.'s books:
Debit: Building M $6,016,000
Credit: Building 24 $6,400,000
Credit: Cash (difference) $384,000
On Fine Co.'s books:
Debit: Building 24 $10,120,000
Credit: Building M $6,016,000
Credit: Cash $4,104,000
To check the amount recorded for Building M on Hodge's books:
The appraised value of Building M = $6,016,000
Cost of Building M = $12,040,000
Accumulated depreciation of Building M = $6,336,000
Book value of Building M = Cost - Accumulated depreciation = $12,040,000 - $6,336,000 = $5,704,000
The amount recorded for Building M on Hodge's books is $6,016,000, which is greater than the book value of $5,704,000. This indicates that Hodge Co. recorded the building at its fair value, as required by accounting standards.
To learn more about “exchange” refer to the https://brainly.com/question/2202418
#SPJ11
27. Many organizations do not have a formal trouble reporting system. Why do you think this is the case?
Many organizations may not have a formal trouble reporting system for several reasons. One primary factor could be a lack of awareness regarding the benefits of such a system. Organizations might underestimate the importance of tracking and resolving issues in a systematic manner, which could lead to inefficiencies and dissatisfaction among employees and stakeholders.
Another reason could be the perceived complexity and cost associated with implementing a formal trouble reporting system. Organizations might assume that setting up such a system requires significant resources, both in terms of time and financial investment. This perception might discourage them from establishing a systematic approach to handling issues. Additionally, some organizations may rely on informal methods of reporting trouble, such as personal communication or ad hoc meetings, believing that these are sufficient for addressing problems. In reality, these methods may not be as effective as a formal system in terms of providing transparency, accountability, and traceability. Lastly, organizational culture and resistance to change could also play a role. Employees and management might be accustomed to existing processes and resistant to adopting new systems, especially if they believe that current methods are working well.
Learn more about formal trouble reporting system here:
https://brainly.com/question/31580525
#SPJ11