Question: please provide explanation and cited website please Module 6 Discussion 0 This week we learn about long-lived assets (Property Plant and Equipment - Chapter 9)

please provide explanation and cited website please
please provide explanation and cited website please Module 6 Discussion 0 This
week we learn about long-lived assets (Property Plant and Equipment - Chapter

Module 6 Discussion 0 This week we learn about long-lived assets (Property Plant and Equipment - Chapter 9) and current liabilities and payroll (Chapter 11). This week's discussion questions are as follows: 1. How is the cost of a lump sum purchase allocated to the individual assets acquired? Provide a simple example of how the allocation would be performed if your company paid $1,000,000 cash in total for a restaurant (land, building, and equipment), and the appraised value was actually $1.200,000 for the 3 asset components $400.000, $500,000, and $300,000, respectively 2. Does the balance in the Accumulated Depreciation - Machinery account represent funds to replace the machinery when it wears out? If not, what does it represent? 3. Assume you work for a company in sales and therefore are entitled to not only hourly pay, but commission and bonus as well. You work 40 hours in a navoll werk Calculate voir ce nav forvirrmany it maken 3. Assume you work for a company in sales and therefore are entitled to not only hourly pay, but commission and bonus as well. You work 40 hours in a payroll week. Calculate your gross pay for your company if you make $x per hour (you select your rate!), earn a 5% bonus (of gross pay), and earn 10% commission (of gross pay). 4. Unfortunately, you do not get to keep all your Gross Pay. Assuming you have the following withholding deductions taken out of your pay, now calculate your Net Pay. Withholding deductions: Employee income tax (20%) Employee OASDI tax (see book for how to calculate) Employee Medicare tax (1.45%) Employee health insurance 75 Employee contribution to United Way 20 Total withholdings

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!