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Answer:
$1,068,000
Explanation:
The cost of land includes the following costs:
• Purchase price of land
• Attorney fees
• Real estate agent commission
• Title
• Recording fees
• Additional expenses :
o Clearing
o Filling and leveling of land
o Removing of old buildings
To Determine the total cost of the land.
Particulars
Amount ($)
Amount ($)
Purchase price of land
1,000,000
Title insurance
3,000
Back property taxes
9,000
Cost of removing the building
45,000
Less: Salvaged material
(5,000)
1,057,000
Level the land
11,000
Total cost of the land
1,068,000
The property tax incurred is a recurring cost. This will reported as an expense for the current year. All other cost is incurred to acquire the land. Therefore, it must be capitalized. Hence, the total amount that company MF should record as the cost of the land is. $1,068,000
Answer:
Explanation:
United States is producing 200 tons of hamburgers and 60 tons of tacos.
United States' opportunity cost for producing 1 ton of hamburgers
= 
= 0.3
United States' opportunity cost for producing 60 tons of tacos.
= 
= 3.33
So we see that US has a lower opportunity cost in producing hamburgers, so it has a comparative advantage in producing hamburgers.
Mexico is producing 40 tons of hamburgers and 50 tons of tacos.
Mexico's opportunity cost of producing a ton of hamburgers
= 
= 1.25
Mexico's opportunity cost of producing a ton of tacos
= 
= 0.8
So we see that Mexico has a lower opportunity cost in producing tacos, so it has a comparative advantage in making tacos.
Since US specializes in making hamburgers, it will produce 200 tons of hamburgers and 0 tons of tacos.
Mexico specializes in making tacos, it will produce 50 tons of tacos and 0 tons of hamburgers.
Answer: Business profile
Explanation:
Business profile is referred to as or known as the profile that is designed in order to have an overview of the organization, business and their business plan. It tends to provide the readers with quick overview of the business, also including the values and the objectives, so as they tend to get the immediate feel of what they are doing and where they are headed.
