Based on the information given, it can be noted that revaluation of assets isn't applicable to land. Therefore, the amount will be $0.
Revaluation of assets simply mean the change in the market value of assets. It can either be increasing or decreasing.
From the information given, the amount that the land account be increased in 2018 is $0 because revaluation of assets isn't applicable to land.
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Answer:
$41,500
Explanation:
Calculation to determine What was the initial cost of the machine to be capitalized
Purchase price $35,000
Add Freight $1,500
Add Installation $3,000
Add Testing $2,000
Total Cost $41,500
Therefore the initial cost of the machine is $41,500
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Answer:
(A) A wholly owned Subsidiary
Explanation:
A wholly owned subsidiary is a company that is completely owned by another company called the Parent/Holding Company. The parent company will hold all (100%) of the subsidiary's common stock.
A wholly owned subsidiary allows the parent company to diversify, manage, and possibly reduce its risk.
Some of the disadvantages of a wholly owned subsidiary include the possibility of multiple taxation, lack of business focus, and conflicting interest between subsidiaries and the parent company if not properly managed.