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
What are the impact of retail shop fitting strategy?​
otez555 [7]

The impact of a retail shopfitting strategy is that it ensures that the retail store attracts and engages the customers.

<h3>What is retail shopfitting?</h3>

Retail shopfitting is the use of colors, displays, and various fittings as a strategic business move and attractively fitting the retail shop, ensuring:

  • Increased visual impact
  • Customers find your store
  • Increased customer sales
  • The communication of retail brand
  • Improved business performance and profitability.

Thus, the impact of a retail shopfitting strategy is that it ensures that the retail store attracts and engages the customers.

Learn more about retail shopfitting at brainly.com/question/6781493

#SPJ1

7 0
2 years ago
You purchased 1,350 shares of stock in Natural Chicken Wings, Inc., at a price of $43.58 per share. Since you purchased the stoc
zmey [24]

Answer:

12.09%

Explanation:

The computation of the total percentage return on this investment is shown below:

= {(Sale price of the stock - purchase price of stock + dividend received per share) ÷ purchase price of stock) × 100

= {($47.76 - $43.58 + $1.09 ) ÷ $43.58} × 100

= ($5.27 ÷ $43.58 ) × 100

= 12.09%

We simply applied the above formula so that the total percentage return on this investment could come

4 0
3 years ago
Thrice Corp. uses no debt. The weighted average cost of capital is" 8.9" percent. The current market value of the equity is $17.
soldier1979 [14.2K]

Answer:

EBIT = $2.076 million

Explanation:

<em>The market value can be ascertained by discounting the earnings after tax by the weighted average cost of capital (WACC).</em>

So we put dis in an equation;

Market Value = Earnings after tax /WACC

<em>Earnings after tax = (1-tax rate ) × EBIT</em>

<em>Note EBIT means earning before interest and tax. And we don't have this figure. So we denote it with  letter " y "</em>

Earnings after tax = (1-0.25) ×  y

                            = 0.75y

<em>Substitute this into the market value equation, then we have;</em>

Market Value = Earnings after tax /WACC

17.5 = 0.75y/0.089

0.75y = 17.5× 0.089

y = (17.5 × 0.089)/0.75

y = $2.076 million

EBIT = $2.076 million

6 0
3 years ago
On January 1, you sold short four round lots (that is, 400 shares) of Four Sisters stock at $63 per share. On March 1, a dividen
Ede4ka [16]

Answer:

Value of the account = -$900

Explanation:

Accumulated profits from the short sale = Number of shares x Price per share

= 300 x $50 = $15,000

Commissions that are paid during the short sale = Commission per share x Number of shares

= 0.5 x 300 = $150

The Net proceeds from the short sale = Proceeds – Commissions

= 15000 – 150 = $14,850

Total dividend paid = Number of shares x Dividend per share

= 300 x 3 = $900

Money paid in covering the short sale = Number of shares x Price

= 300 x $49 = $14,700

Commissions paid in covering the short sale = Commission per share x Number of shares

= 0.5 x 300 = $150

Total money paid in covering the short sale

= 14700 + 150 = $14,850

Therefore, Value of the account = Proceeds – Dividend paid – Money paid

= $14,850 - $900 - $14,850 = -$900

Value of the account = -$900

6 0
3 years ago
Read 2 more answers
What is the role of the Federal Open Market Committee? A. It appoints the Fed Board of Governors. B. It oversees the entire Fede
Akimi4 [234]
D.It makes key decisoons about the U.S blah blah blah blah blah
7 0
3 years ago
Read 2 more answers
Other questions:
  • Included in Waterway Company’s December 31, 2017, trial balance are the following accounts: Accounts Payable $221,600, Pension L
    9·1 answer
  • The term that most accurately describes the international economy today isa. unilateralism.b. isolationism.c. interdependence.d.
    7·1 answer
  • You are quite hungry but don't have any money if you were described as all id and only id what would you do
    14·1 answer
  • If commercial banks are maintaining a 4 percent reserve/deposit ratio and the fed raises the required reserve ratio to 6 percent
    9·1 answer
  • Reliable Car​ Parts, a manufacturer of spare​ parts, has two production departmentslong dashAssembling and Packaging. The Assemb
    14·1 answer
  • At around 41°F, most bacteria stop growing true or false
    7·2 answers
  • For the year ended December 31, year 3, Colt Corp. has a loss carryforward of $180,000 available to offset future taxable income
    7·1 answer
  • A consistent application of an inventory costing method enhances
    13·1 answer
  • At December 31 year-end Connor Company has a $9,500 note from a customer. Interest of 12% has accrued for 8 months on the note.
    5·1 answer
  • Cliff Co. wants to purchase a machine for $42,000, but needs to earn a return of 11%. The expected year-end net cash flows are $
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!