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Luden [163]
3 years ago
6

Dorsey Co. has expanded its operations by purchasing a parcel of land with a building on it from Bibb Co. for $83,000. The appra

ised value of the land is $23,000, and the appraised value of the building is $103,000. Required: a. Assuming that the building is to be used in Dorsey Co.’s business activities, what cost should be recorded for the land?
Business
1 answer:
algol [13]3 years ago
4 0

Answer:

The cost should be recorded for the land is $15,150

Explanation:

In order to calculate the cost should be recorded for the land we would have to calculate the following formula:

cost should be recorded for the land=(Appraised value of land/Appraised value of land and building)*combine cost of land and building

Appraised value of land=$23,000

Appraised value of land and building=$23,000+$103,000=$126,000

combine cost of land and building=$83,000

Therefore, cost should be recorded for the land=($23,000/$126,000)*$83,000

cost should be recorded for the land=$15,150

The cost should be recorded for the land is $15,150

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g A Mortgage Backed Bond is: Group of answer choices a. A mortgage-backed security that pass-through promised payments of princi
o-na [289]

Answer:

A Mortgage Backed Bond is:

e. A loan in which security interest in real estate is granted by a borrower.

Explanation:

A mortgage backed bond is tied to or secured on a real estate asset.  This implies that the bond is not just a promise to pay a debt obligation but the attached promise is secured or backed by some real assets.  There is extra security provided for the bond because specific assets are identified as securities for the bond.  Since the bonds are associated with some real assets, the assets can be traded in the event that the debt obligations are not met.

4 0
3 years ago
What is the most important factor to you in choosing a job?
GarryVolchara [31]

Explanation:

1. Salary: Yes it is the salary which comes top most. Everybody needs money and each and everyone expects different salary based on their skills.

2. Career prospects: Career prospects are higher important than the salary. Only if the organization can provide space for growth, then only the job seems to be good.

3. Training and Development: This is one of the important aspect to upskill oneself. The upskill supports both personal growth and the growth of the organization.

4. Flexibility and benefits: Ability to adapt to change and make changes accordingly. Flexibility either way is expected. The additional benefits which one get is really an extra benefit and recognition given to the employee. Eg. Bonus

3 0
3 years ago
To sum up international trade theory, we can say that the primary reason for trade is
muminat

Answer:

The primary reason for trade is for the economic development of a country.

Explanation:

Trade makes a significant and necessary contribution to the economy and the country's development particularly in underdeveloped countries. The rapid progress of underdeveloped countries in the Industrial field is due to their exports. In most countries, such would represent a significant share of their gross domestic product (GDP).

6 0
2 years ago
The organization's leadership should establish the flow-down objectives to set the stage for establishing the guiding principles
NemiM [27]

Answer:

The correct answer is letter "B": False.

Explanation:

The flow-down in management represents the activities executives perform when each individual department establishes their objectives and they are reported to the next level in the hierarchy department so the manager of that department approves or modifies it to align the overall organization's goals.

Setting the corporation's vision and mission is not part of this approach.

3 0
3 years ago
Mize Company provided $45,500 of services on account, and collected $38,000 from customers during the year. The company also inc
damaskus [11]

Answer:

D. All of these answer choices are correct

Explanation:

Use Accounting Equation

Events:                                   Assets  = Equity + Liabilities

Provided Services                +45,500  +45,500

Collection from customers  -38,000

                                             +38,000

Expenses on Account                           -37,000  +37,000

Payment against payable    <u>-32,400</u>    <u>             </u>   <u>-32,400</u>

Net Impact                              <u>13,100</u>       <u>8500</u>        <u>4600</u>

Hence, It is proved that Assets, equity and liabilities are increased.

7 0
3 years ago
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