Answer:
$377,835
Explanation:
The cost of an assets include Purchase Costs and other costs directly related to place to asset in the location and condition intended for use by the management.
<u>Thus, calculation of the Cost of the Land will be as follows :</u>
Cash payment $42,000
Short term note $307,000
Legal Costs $2,335
Delinquent taxes $11,900
Fees to remove old buildings ($19,800 - $5,200) $14,600
Total $377,835
Conclusion :
Therefore, the cost of the land to be reported on the balance sheet is $377,835
If the previous year did not see more than a five percent increase in these costs, there is no change in the rent, the clause will be the Escalator clause.
<h3>What is a clause?</h3>
It's a particularly precise clause in a legal agreement that refers to a key point of agreement between the contracting parties. A clause establishes the terms wherein the parties will conduct during the terms of the contract.
Terminology in a sales contract that raises your purchase price by a specific amount above competing offers till the offer reaches its maximum price you're ready to pay is called an escalation clause.
This will help to enhance the appeal of an offer, it also informs the seller of the exact amount you're willing to spend. This will also help to negotiate on price to make the deal close.
Therefore, the correct answer will be the Escalator clause.
Learn more about the clause, here:
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Answer:
a. $164,000
Explanation:
The computation of the Altoon Manufacturing's sales for the year until the flood is given below:
= Cash collections + ending receivables - opening receivables
= $158,000 + $25,000 - $19,000
= $164,000
hence, the Altoon Manufacturing's sales for the year until the flood is $164,000
Therefore the first option is correct
Answer:
Corporate citizenship
Explanation:
Corporate citizenship - it is referred to as the kind gesture that is initiated by any organization toward the local company. This gesture is not in the form of investing in business but also includes some investment particularly for the local community.
it helps to enhance the company's performance and reduce the risk. it helps to improve the social relationship with others.
