Answer:
$570,000
Explanation:
At the time of recording of the fixed assets, the fixed assets should be reported at purchase cost or historical price or originally cost or acquiring cost, whether all other values are given i.e appraisal value, the seller purchased value, similar warehouse book value, etc
So, in the given case, it would be recorded at $570,000 as the buyer purchase the building at this cost only.
Answer:
The correct answer is letter "D": Insurance companies will only cover losses suffered while the policy is already in place.
Explanation:
Regardless of the type of insurance you purchase, the purpose of the coverage is having a policy in case an unexpected unfortunate event takes place. <em>Insurances do not enroll individuals who need the policy just because of an ongoing accident</em>. Those individuals could enroll in an insurance plan but the ongoing accident will not be covered by the company. Only those events happening when the policy is already valid are subject to evaluation for coverage.
Answer:
Explanation: B Food Products & Processing Systems
In this item, since the purchase has been made and that it was due to the agreement that that said amount is paid rather than a smaller one, the element that should be taken to the journal should be $1.7 in cash out column. The money is used to pay the liability. In this manner, the corporation will not have the need to physical call on someone to explain when the numbers in the journal do not match.
