1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
strojnjashka [21]
3 years ago
14

A local citizen donated land with a fair market value of $500,000 to the county government. The donor had paid $550,000 for the

land five years ago. The county incurred $150,000 in development costs to convert the land into a public park. The county should capitalize the new public park in the General Capital Assets accounts in the amount of
A.$500,000.
B.$550,000.
C.$650,000.
D.$700,000
Business
2 answers:
Diano4ka-milaya [45]3 years ago
6 0

Answer:

C) $650,000

Explanation:

Government entities should record their assets at fair market value, not at cost basis. They should also include the land improvements as part of the total value of the land:

total value of the land = $500,000 (donated land) + $150,000 (land improvements) = $650,000

vfiekz [6]3 years ago
4 0
Your answer is C because the local citizen donated $500,000 + the county incurred $150,000more =$650,000
You might be interested in
Hines Cosmetic Co. sold beauty preparations nationally to beauty shops at a standard or fixed- price schedule. Some of the shops
babymother [125]

Answer:  No,the company is not guilty.

Explanation:  In the given case, Hines could not be considered guilty of price discrimination as the price charged from different shops was same. The free samples were distributed for the purpose of campaign and the discretion to which shop they want to provide lies completely with the company.

Price discrimination refers to the practice of charging different prices from different customer which the company have definitely not done.

Hence, Hines could not be charged of guilty of price discrimination.

6 0
3 years ago
How would a sale of $400 of inventory on credit affect the balance sheet if the cost of the inventory sold was $160
dimaraw [331]

Answer:

the journal entries used to record this transaction are:

Dr Accounts receivable 400

    Cr Sales revenue 400

Dr Cost of goods sold 160

    Cr Inventory 160

This transaction will increase net income, which increases retained earnings by $240. It will also increase assets by $240, since accounts receivable increases by $400, but inventory decreases by $160.

5 0
3 years ago
What is the range of useful life estimates that Tesla provides for office furniture, machinery and equipment in the 2013 10-K?a.
MAXImum [283]

Answer:

The correct answer is letter "B": 3 to 12 years.

Explanation:

American car maker Tesla, Inc. specializes in manufacturing electric-fueled autonomous driving vehicles. Founder and Chief Executive Officer (<em>CEO</em>) Elon Musk is also the chief engineer and designer for most revolutionary Tesla car models. When it comes to its 2013 10-K United States Securities and Exchange Commission form, Tesla submitted a <em>3 to 12 years estimated depreciation for office furniture, machinery and equipment, 3 years for computer equipment and software, </em>and <em>30 years for building and building improvements.</em>

3 0
3 years ago
Even though many ballparks practice price discrimination between adults and children in selling tickets, such discrimination is
IRISSAK [1]
Discrimination is not applied at the concession stands because there can be exchange of the product from children, who'd buy it at a lower price, to adults.
3 0
3 years ago
Read 2 more answers
Rhoda describes her typical customer as female between the ages of 22 and 35 with at least two years of college education and a
Anna11 [10]

Answer:

Demographic variable

Explanation:

Rhoda describes her typical customer as female between the ages of 22 and 35 with at least two years of college education and a household income above $50,000 annually. Rhoda is using demographic variables to describe her customers. A demographic variable is a variable that is collected by researchers to describe the nature and distribution of the sample used with deductive statistics, these are variables such as age, gender, educational level e.t.c. Rhoda describes her typical customer as female between the ages of 22 and 35 with at least two years of college education and a household income above $50,000 annually therefore Rhoda was formulating her customer profile by using information such as gender, age, education level and income level.

3 0
3 years ago
Other questions:
  • C. calculate the dollar value of us bonds held by the chinese government. explain how you determined your answer. identify the r
    10·2 answers
  • Treasury Stock Transactions SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On M
    9·1 answer
  • Linda and Richard are married and file a joint return for 2019. During the year, Linda, who works as an accountant for a nationa
    11·1 answer
  • An inferior good is one for which _ _ in buyers income causes
    11·1 answer
  • If, over a given period, the index of export prices rises by 10% and the index of import prices rises by 5%, the terms of trade
    12·1 answer
  • Individuals who fail to complete high school are at an increased risk for
    9·1 answer
  • What are the opportunity offers by<br>vocational education?​
    5·1 answer
  • Which resources can help you learn more about specific careers? Check all that apply. CareerOneStop a personal assessment a pers
    14·2 answers
  • Select the behavior that does NOT represent an example of a speaker effectively preparing for a lecture.
    11·1 answer
  • What is total surplus with a tax equal to?.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!