JC
Jazzlyn Chaidez
Answers (6)
JC
Answered
Which of the following statements about performance metrics is false?
A) Performance metrics are used to assess performance in achieving the strategic objectives.
B) Performance metrics are needed for 80% of the strategic objectives.
C) Each strategic objective needs at least one performance metric.
D) Performance metrics may be financial or nonfinancial in nature.
A) Performance metrics are used to assess performance in achieving the strategic objectives.
B) Performance metrics are needed for 80% of the strategic objectives.
C) Each strategic objective needs at least one performance metric.
D) Performance metrics may be financial or nonfinancial in nature.
On Jul 22, 2024
B
JC
Answered
Bonzo Co.owns a building in Pennsylvania.The historical cost of the building is $1,050,000 and $540,000 of accumulated depreciation has been recorded to date.During 2015,Bonzo incurred the following expenses related to the building:
Repaired a broken water main $81,500 Major improvement to the HVAC system 75,000 Added a 6,000 square foot employees’ lounge 197,500 Replaced the carpet in the purchasing department offices 21,300 Repainted the building 25,000\begin{array}{lr}\text { Repaired a broken water main } & \$ 81,500 \\\text { Major improvement to the HVAC system } & 75,000 \\\text { Added a 6,000 square foot employees' lounge } & 197,500 \\\text { Replaced the carpet in the purchasing department offices } & 21,300 \\\text { Repainted the building } & 25,000\end{array} Repaired a broken water main Major improvement to the HVAC system Added a 6,000 square foot employees’ lounge Replaced the carpet in the purchasing department offices Repainted the building $81,50075,000197,50021,30025,000
Required:
a.Which of the building related costs incurred by Bonzo Co.should be capitalized in 2015?
b.What is the subsequent carrying amount of the building?
Repaired a broken water main $81,500 Major improvement to the HVAC system 75,000 Added a 6,000 square foot employees’ lounge 197,500 Replaced the carpet in the purchasing department offices 21,300 Repainted the building 25,000\begin{array}{lr}\text { Repaired a broken water main } & \$ 81,500 \\\text { Major improvement to the HVAC system } & 75,000 \\\text { Added a 6,000 square foot employees' lounge } & 197,500 \\\text { Replaced the carpet in the purchasing department offices } & 21,300 \\\text { Repainted the building } & 25,000\end{array} Repaired a broken water main Major improvement to the HVAC system Added a 6,000 square foot employees’ lounge Replaced the carpet in the purchasing department offices Repainted the building $81,50075,000197,50021,30025,000
Required:
a.Which of the building related costs incurred by Bonzo Co.should be capitalized in 2015?
b.What is the subsequent carrying amount of the building?
On Jul 21, 2024
Feedback:GAAP requires a company to capitalize expenditures that extend an asset's useful life,increase its capacity or efficiency,or cause any other increase in its economic benefits.A major improvement to the HVAC system and a building addition meet these criteria and are capitalized costs.The painting,carpet,and repair costs are expensed since they do not improve efficiency or extend the productive life of the building.JC
Answered
Passed by Congress in 1991, the _____ created incentives for organizations to develop and implement ethical compliance programs.
A) Sarbanes-Oxley Act
B) U.S. Sentencing Commission's Guidelines for Ethical Compliance
C) Ethical Compliance Act
D) Social Responsiveness Compliance Act
E) Federal Sentencing Guidelines for Organizations
A) Sarbanes-Oxley Act
B) U.S. Sentencing Commission's Guidelines for Ethical Compliance
C) Ethical Compliance Act
D) Social Responsiveness Compliance Act
E) Federal Sentencing Guidelines for Organizations
On Jun 22, 2024
E
JC
Answered
Alex,Kara,and Susie are the only three people in a community and Alex is willing to pay $20 for the fifth unit of a public good;Kara,$15;and Susie,$25.Government should produce the fifth unit of the public good if the marginal cost is less than or equal to:
A) $25.
B) $15.
C) $60.
D) $300.
A) $25.
B) $15.
C) $60.
D) $300.
On Jun 21, 2024
C
JC
Answered
Gary's wealth is $1 million. Economists would say that Gary has $1 million worth of money.
On May 23, 2024
False
JC
Answered
Received utility bill to be paid next month
A) Increase assets, increase liabilities
B) Increase liabilities, decrease owner's equity
C) Increase assets, increase owner's equity
D) No effect
E) Decrease assets, decrease liabilities
F) Decrease assets, decrease owner's equity
A) Increase assets, increase liabilities
B) Increase liabilities, decrease owner's equity
C) Increase assets, increase owner's equity
D) No effect
E) Decrease assets, decrease liabilities
F) Decrease assets, decrease owner's equity
On May 22, 2024
B