1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
julsineya [31]
3 years ago
11

On june 25, ritts roofing extended an offer of $250,000 for land that had been priced for sale at $300,000. on july 9, ritts acc

epted the seller's counteroffer of $275,000. on october 1, the land was assessed at a value of $280,000 for property tax purposes. on december 22, ritts was offered $305,000 for the land by a national retail chain. at what value should the land be recorded in ritts roofing's records?
Business
2 answers:
Ket [755]3 years ago
3 0

The answer is $275,000 this is because this is the last accepted offer on the land. All others are appraisals or offers but not the recorded value of the land.

Luda [366]3 years ago
3 0

Answer: The correct answer is $275,000.

Explanation: This question is an example of the cost principle. In accounting, property is recorded at the actual cost that it was purchased for. The appraisal amount and offer amounts are not used to record the value of the land. In this situation, the land should be recorded in their records at $275,000, which is the amount that they purchased the land for.

You might be interested in
Expected cash dividends are $4.00, the dividend yield is 8%, flotation costs are 6% of price, and the growth rate is 5%. Compute
Brut [27]

Explanation:

\text { Dividend, } \mathrm{D}= 4 \\\text { Dividend yield rate }=\mathrm{D} / \text { Current price }=8 % \\\text { Current price }, \mathrm{P} 0=\mathrm{D} / 8 \%=\$ 4 / 8 \%=$ 50

\text { Flotation cost, } \mathrm{F}=8 \% \text { of current price }=\$ 50 * 8 \%=\$ 4 \\
\text { Growth rate,g }=4 % \\
\text { Cost of new common stock, } \mathrm{Ke}=[\mathrm{D} 1 /(\mathrm{P} 0-\mathrm{F})]+\mathrm{g} \\  =[\$ 4 /(\$ 50-\$ 4)]+4 \% \\
=0.086956522+0.04 \\
=0.126956522=12.7 \% \text {(Rounded) }

12.7%

6 0
3 years ago
Assume that you have the following decision-making options: (1) make the decision on your own with available information, (2) co
raketka [301]

Answer:

(2) consult others before making a decision.

Before I make a recommendation, I will consult my team members.  Individually, some may have new ideas and modifications which we can incorporate into the project to even beat the competition and cause management to continue supporting the project.

Explanation:

Even though our competitor's "product appears to utilize radical new design principles that expand the functionality of the product," we can still modify our product.  This will not only incorporate the features of our competitor's product, but also further introduce new features that will emanate from the challenge from competition.

This is where the SCRUM framework becomes important.  This framework for project management emphasizes teamwork, accountability, and iterative progress toward a well-defined goal, while allowing for tweaks.

Developing this project based on this framework must have made it possible for us to receive the report from the marketing department in the first place.  The principles of Scrum are Openness, Respect, Courage, Commitment, and Focus.  So, the best we can do will be to prioritize, come up with new improvement ideas, and convince top management not to cancel the project.

3 0
3 years ago
When Theo complained out loud that the hotel restaurant did not serve breakfast late enough in the morning, a hotel worker overh
11111nata11111 [884]

Answer:

The correct answer is E. respond quickly

Explanation:

Respond quickly is a great strategy to gain customers' fidelity.

7 0
3 years ago
A year ago, Phyllis Peterson purchased 100 shares of Fidelity's Contrafund for $50 each. During the year, her total return from
Y_Kistochka [10]

Phyllis' RATE (percentage) of return is 7 percent

<u>Explanation:</u>

Data provided in the question:

Purchase price for each share = $50

Dividend received = $1 per share

worth of shares at the end of year = $52.50

Thus, total return on the share  = dividend received plus worth of sahres at the end of year minus purchase price

= $1 plus $52.50 minus $50 = $3.5

Therfore, rate of return = [ total return on the shares by purchase price ] into 100%

= [$3.5 by $50] inot 100 percent

= 7 percent

hence, the option with 7 percent will be the correct answer.

6 0
3 years ago
"An investor buys $10,000 of a "regulated" mutual fund investing solely in municipal securities. Which statement is TRUE regardi
kogti [31]

Answer: D. The investor has no tax liability on distributions received, and the investment company has no tax liability on retained income

Explanation:

Municipal Securities are exempt of Federal taxes and this is what makes them most attractive. An investor in a mutual fund which invests solely in municipal securities will therefore not have any tax liability because their returns would be based on securities that are federally tax exempt. The same goes for any income the Mutual fund intends to retain.

7 0
3 years ago
Other questions:
  • Consider a hypothetical closed economy in which households spend $0.60 of each additional dollar they earn and save the remainin
    15·1 answer
  • Holding all other things constant, when the price level rises, interest rates:
    7·1 answer
  • You can now sell 40 cars per month at $20,000 per car, and demand is increasing at a rate of 3 cars per month each month. What i
    15·2 answers
  • Does​ Firm A have a dominant strategy? The dominant strategy for Firm A is a low price. No, there is no dominant strategy for Fi
    12·1 answer
  • What effect will a low economic growth have on the country
    13·1 answer
  • ​The production team of a company that manufactures cricket balls has determined the quantity of leather, threads, labor, and el
    8·1 answer
  • A nation has a population of 300 million people. Of these, 80 million are retired, in the military, in institutions, or under si
    8·1 answer
  • You bought an American put option some time ago. Today it has one year left to expiration. Interest rate is 10% per year. Annual
    8·1 answer
  • At the beginning of Year 2, Better Corp.'s accounting records had the following general ledger accounts and balances. BETTER COR
    11·1 answer
  • Help me please please
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!