Answer:
Cost of land = $76,240
Explanation:
Cost of land = cash price + accrued taxes + attorney's fees + broker's commission + clearing and grading
Cost of land = $61,440 + $4,720 + $2,660 + $3,360 + $4,060
Cost of land = $76,240
- Original cost is the total price associated with the purchase of an asset.
- The original cost of an asset takes into consideration all of the items that can be attributed to its purchase and to putting the asset to use.
- These costs include the purchase price and such factors as commissions, transportation, appraisals, warranties and installation and testing.
- Original cost can be used to value an asset type, including equipment, real estate and security instruments.
Answer: $13125
Explanation:
The amount that the insurer will pay to settle this loss will be calculated thus:
= Insured claim × Insurance value / 80% of replacement value
= 15000 × 105,000 /80% × 150000.
= 15000 × 105,000 / 120000
= 13125
Therefore, the insurer will pay $13125
Answer:
$70000
Explanation:
We have been give in this question that a 100 percent of FORcos share belongs to piper. He owns a 100 percent fully. Piper has to include that which he deposited. 7 million dollars of 2 percent
= 7million dollars x 1 percent
= 7000000 x 0.01
= $70000
So piper has to include in gross income her share of FORcos f income for investment in united states property and this has been calculated as 70000
Answer:
education and expertise
Explanation:
Based on the scenario being described within the question it can be said that this is an example of education and expertise. By learning a skill or trade and gaining experience by continuously practicing and improving those skills anyone can sell those skills to other individual's or company's that require those skills but do not possess them. Such as the individuals in this scenario did.
Answer:
will probably indicate less than $2 million in merchandise on hand.
Explanation:
Perpetual inventory system is when information regarding quantity and availability in inventory of a business is continuously updated. Sale or purchase big inventory is recorded immediately with the use of computerised point of sale systems.
The department store uses a perpetual inventory system. At year-end, it shows a balance in the merchandise inventory account of $2 million. The physical inventory will probably be less than $2 million because it adjust its records to make the recorded inventory amount agree with the actual inventory on hand at end of year.
