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Grace [21]
3 years ago
10

A company purchased land for $90,000 cash. real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an ol

d building on the land before construction of a new building could start. under the historical cost principle, the cost of land would be recorded at
Business
1 answer:
Fed [463]3 years ago
3 0

Based in the historical cost principle, the total cost of the land would be the summation of all cost, either direct or indirect.

Therefore it would be:

Cost of Land = $90,000 cash + $5,000 commission + $7,000 demolishing

Cost of Land = $102,000

 

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levacccp [35]

Answer:

the picture not working

Explanation:

5 0
3 years ago
Hill Corporation issued $2,100,000 of 8% bonds at 98 on January 2, 2019. Interest is paid semiannually on June 30 and December 3
Butoxors [25]

Answer:

Hill Corporation

Journal Entries

March 31, 2022:

Debit Bond Liability $2,247,000

Debit Interest Payable $42,000

Credit Cash $2,289,000

To record the recall of the bonds, including accrued interest.

Explanation:

a) Data and Calculations:

January 2, 2019: Face value of bonds issued = $2,100,000

Proceeds from the issue of the bonds at 98 =    2,058,000

Discount from the issue =                                        $42,000

Semi-annual amortization under straight-line = $2,100 ($42,000/20)

Coupon interest rate = 8% with payment made semiannually

Annual interest payment = $168,000 ($2,100,000 * 8%)

Semiannual interest payment = $84,000 ($2,100,000 * 4%)

Bonds duration = 10 years

March 31, 2022 Recall price of 107 = $2,247,000

Accrued interest from January 1 to March 31 = $42,000

Total payment to bondholders = $2,289,000

5 0
2 years ago
Given the following data on bond yields:
Alexandra [31]

Answer:

Explanation:

a) Confidence index=Yield on top-rated corporate bonds/ Yield on intermediate-grade corporate bonds

This year=9.3%/11.8%=0.788

Last Year=9.8%/11.3%=0.8673

b) From the calculations we can see that confidence index is decreasing from 0.8673 to 0.788.

4 0
3 years ago
Parts of the retail industry in which a small number of businesses control a large portion of the market represent __________.
solniwko [45]

The answer to your question is "Oligopolies."

An oligopoly is a market form where a market is controlled by a few large sellers or businesses.  The type of market is going to effect the price in one of two ways.  The first possibility is that the few businesses will work together, or collude, in order to establish higher than normal prices.  The second possibility is that there will be fierce competition between the few sellers, which will result in a high level of competition and lower prices.

8 0
3 years ago
Which of the following are possible amounts for the third check and the cash that cindy deposited
Neko [114]

$122.04 in cash and a $206.64 check will be the possible amounts for the third check and the cash that cindy deposited.

Any household member who possesses an SSN is eligible to receive a payment under the third check. This is distinct from the first and second stimulus payments, which required at least one tax filer to have an SSN in order for the household to be eligible to receive the checks. Your third stimulus check, like the first two, is basically merely an advance payment of the Recovery Rebate tax credit for the 2021 tax year. Therefore, it won't be counted toward your taxable income. Similar to the first and second stimulus checks, there are income requirements in order to get the entire payout. No minimum income is required to be eligible for the payment.

the complete question is:

Which of the following are possible amounts for the third check and the cash that Cindy deposited?

a. no cash and a $303.68 check

b. $140.50 in cash and a $267.14 check

c. $99.32 in cash and a $155.55 check

d. $122.04 in cash and a $205.64 check

learn more about Rebate tax credit here

brainly.com/question/20374653

#SPJ4

6 0
1 year ago
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