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Phantasy [73]
2 years ago
11

all of the following are required for adverse possession except that it must be under a claim of right or color of title open an

d notorious use hostile to the true owner's title confrontation with the owner
Business
1 answer:
Alina [70]2 years ago
8 0

One thing that is not required for adverse possession is confrontation with the owner.

<h3>What is adverse possession?</h3>

Adverse possession refers to the way a person staying on a piece of land, can get the title to that piece of land from the owner by law. But they will need to meet certain requirements for them to be able to do so.

Some of these requirements include:

  • a claim of right or color of title
  • open and notorious use
  • hostile to the true owner's title
  • pay taxes

This means that for one to perform an adverse possession, there is no need for a confrontation with the owner of the land. One can simply get this done with the Courts.

Find out more on adverse possession at brainly.com/question/28167922

#SPJ1

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The next dividend payment by Hoffman, Inc., will be $2.65 per share. The dividends are anticipated to maintain a growth rate of
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3 years ago
During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 46,000 mini refrigerators, of whi
notsponge [240]

Answer:

                                                                     $

Sales                                                       8,800,000

Less: Cost of goods sold (W1)               5,241,739.13

Contribution                                          3,558,260.87

Less: Fixed manufacturing cost               598,000

Less: Fixed selling and admin cost          320,000

Net Income                                            2,640,260.87

<em>(W1) Cost of goods sold</em>

Direct Material                                  3,450,000

Direct Labour                                    1,196,000

Variable manufacturing cost              782,000

Variable selling cost                            600,000

Total variable cost                            6,028,000

Less:closing inventory                     786,260.87 (6,028,000/46,000*6,000)

COST OF GOODS SOLD                  5,241,739.13

8 0
3 years ago
Berkshire Inc. uses a periodic inventory system. At the end of 2015, it missed counting some inventory items, resulting in an in
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Answer:

Assets understated by $510,000, liabilities understated by $153,000 and shareholders' equity understated by $357,000.

Explanation:

An understatement of closing inventory will have the following effects,

First of all the inventory as an asset is understated by $510,000

Second, this inventory was subject to deduction from the Cost of goods sold as, Cost of goods sold = Opening Inventory + Purchases - Closing Inventory.

Since this amount was not subtracted from the CGS, the gross profit and ultimately the Net profits were understated by $510,000.

This will be added in the net profits.

With an increase in net profits, the tax payable amount also increases. This is calculated as 510,000 * 0.30 = $153,000

So total change in profits is = 510,000 - 153,000 = $357,000

While $153,000 is still payable and is recorded as a tax payable liability.

Thus,

Assets understated by $510,000

Liabilities Understated by $153,000 (tax payable)

Share holders equity understated by $357,000 (part of retained profits)

Hope that helps.

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Answer:

Explanation:

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