<span>When determining the value of raw land, there is a relatively fixed amount of supply; therefore, the value of land is primarily determined by demand?
Because land isn't something we can just add in to the world, there is a fixed amount of supply available to us as a resource. When the supply becomes scarce, it is easy for the value of land to go up because if demand is high and there is a low amount the price can be higher since there is less competition of the same. </span>
I think this is important without a doubt . You might need to use that money someday for yourself but won't have it because you spent it on a HUGE list of groceries. If you put some money aside for yourself, you will have money that your allowed to do anything with (saving, buying clothes, buying cars, etc.) You should always save some of your payment that way you always have extra money in case of any money emergenies or such.
Answer:
A. $80
B. $795
C. $0
Explanation:
Only expenses that can be directly attributed to the business are deductible.
Personal expenses will not be deductible.
A. Here the only deductible amount is the legal fees of $80. The speeding will not be charged to the business because it was as a result of personal negligence. The legal fees affect the business because the speeding related to a business asset.
B. Only the amount paid to reserve a spot will be deductible because it relates to expenses for the business to make profit. The money she spent on her children is a personal expense.
C. There is no deductible here. These activities were of a personal nature and in no way related to the operations of the business of operating the food truck.
Answer:
$55,500
Explanation:
The computation of the net realizable value after the write off entry is show below:
The credit balance in allowance with terms to bad debts is
= $4,500 - $4,000
= $500
Now the net realizable value is
= ($60,000 - $4,000) - ($4,500 - $4,000)
= $56,000 - $500
= $55,500
Hence, the same is to be considered
There are different kinds of cost incurred in business. Depreciation of equipment is an example of sunk cost.
- Sunk cost is a financial term for a cost that has been incurred and one cannot recover again. This type of costs are taken as bygone and are not taken into consideration when making decisions.
They are money that has been spent and one cannot get back again. Example is Depreciation, amortization, and impairments.
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