Answer:
$671,300
Explanation:
The calculation of adjusted basis in the building is shown below:-
Adjusted basis = Original cost of the property + Cost of capital improvements - Depreciation claimed
= $750,000 + $50,000 - $128,700
= $800,000 - $128,700
= $671,300
Therefore for computing the adjusted basis we simply add original cost of the property with cost of capital improvements and deduct depreciation claimed.
Answer:
b. When there is a lack of importance of the buyer to the supplier group
Explanation:
According to Porter there are five forces that can cause rivalry in a production industry. These are supplier power, threat of new entrants, buyer power, threat of substitutes, and degree of rivalry.
Supplier power is when suppliers are able to benefit from the producers by increasing prices of inputs and gaining some industry profit. Since suppliers supply input and labour to the producer they have a greater control of there is lack of importance of the buyer to the supplier group.
This means that the supplier group has more control on price and quality it supplies to the buyer with buyer having little choice but to buy.
If however buyer is more important to the supplier it means they can control price and quality of inputs
Answer:
Now we're in the Pleasant Park streets
Look at the map, go to the marked sheet
Answer:
Debit Cost of Goods Sold $500
Explanation:
When inventory is purchased, debit inventory and credit cash or accounts payable. When inventory is sold, credit inventory (with the cost of inventory sold) and debit cost of goods sold(p/l).
Further more, sales is recognized by crediting sales account and debiting cash or accounts receivables.
As such, if original cost of the merchandise to X-Mart was $500, entries required would include a credit to merchandise inventory $500 and Debit Cost of Goods Sold $500.
Answer:
<u>Executed</u>
Explanation:
Ratification of a contract refers to formally approving a contractual obligation. To dis-affirm refers to back out of a contract wherein the parties to it return the consideration.
A minor, an individual below the age of eighteen years does not have capacity to a valid contract. A minor may void a contract before attaining majority.
When a contract has been signed by both the parties to it, with transaction closed, the contract shall be termed as executed.
In the given case, Luke a minor entered a contract to buy movies. Later upon attaining majority, Luke decides to disaffirm i.e not honor it. The contract in such a scenario shall be considered as formally approved i.e ratified by both parties if it was executed.
In such a case, Luke will have to honor the contract since the disaffirmation period i.e before his attaining majority has lapsed.
