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lesya [120]
3 years ago
9

Cotton Hotel Corporation recently purchased the Hotel Middleburg and the land on which it is located. Cotton Hotel Corporation i

ntends to demolish the Hotel Middleburg and build a new luxury hotel in that location. What will happen to the cost of the Hotel Middleburg
Business
1 answer:
Yanka [14]3 years ago
8 0

a. depreciated over the period from acquisition to the date the hotel is scheduled to be torn down.

b. written off as a loss in the year the hotel is torn down.

c. capitalized as part of the cost of the land.

d. capitalized as part of the cost of the new hotel.

capitalized as part of the cost of the land.

Answer: Option C.

<u>Explanation:</u>

Since the land of the hotel is going to be the same on which the new hotel is going to be built, the cost of the hotel would be capitalized as the cost of the land of the new hotel that is to be built on the same land on which the hotel middleburg was built.

It was written in the books as the capitalized cost of the land because the land of both the hotels are going to be the same.

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a secured party who has control will prevail over a secured party who has only filed for these types of collateral:
marshall27 [118]

Deposit accounts, Investment Property, and Letter-of-credit Rights. Thus option (A) is correct

<h3>What is the investment?</h3>

Investment is the ceremonial of money to purchase an asset to attain an increase in value over a time period of time. Investment requires a sacrifice of some present quality, such as time, medium of exchange, or effort. In finance, the purpose of investing is to generate a return from the invested asset.

Whether or not there is a current obligation to be secured, a person who has the benefit of the security interest generated by or provided for under a security arrangement is known as a secured party under UCC law. when the secured party is in possession, a duty of care.] A secured party must take reasonable care to keep the collateral it has in its possession safe unless subsection (d) provides otherwise.

Therefore, Thus option(A) is correct

Learn more about investments here:

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5 0
1 year ago
Labor unions are restrained in their wage demands because Multiple Choice
MAVERICK [17]

Answer:

the labor demand curve is downsloping  is the correct option is  

Labor unions are restrained in their wage demands because the labor demand curve is downsloping

8 0
3 years ago
any constituent who has a claim in some aspect of a company's products, operations, markets, industry, or outcomes is known as w
disa [49]

Answer:

Stakeholders

Explanation:

A stakeholder is anybody to takes key interest in the functioning of an organization. Stakeholder is directly or indirectly affected by the success and failure of the organization. A stakeholder could be an investor who has invested money in the firm; a customer who uses the products manufactured by the firm; a debtor who owes money to the firm or creditor who the firm owes money.

As such, a stakeholder is related to the firm through one or the other medium such as markets, industry or operations.

6 0
3 years ago
Princess, who resides in the 2nd Circuit, recently found a circuit court case that is favorable to her income tax research quest
lapo4ka [179]

The correct answer is C) 2nd Circuit or the Federal Circuit. 

Princess, who resides in the 2nd Circuit, recently found a circuit court case that is favorable to her income tax research question. The circuits that she would prefer to have issued the opinion are the 2nd Circuit or the Federal Circuit. 

Princess has to go to the 2nd Circuit Court of Appeals that is located in Manhattan, New York, at the Thurgood Marshall US Courthouse. It exercises federal jurisdiction in six districts of the states of Vermont, New York, and Connecticut.  The 2nd Circuit Court of Appeals was established by Congress in 1891.

5 0
3 years ago
An aging of a company's accounts receivable indicates that $4,500 are estimated to be uncollectible. If Allowance for Doubtful A
lyudmila [28]

Answer:

a. debit to bad Debt expense for $3,300

Explanation:

The Journal entry is shown below:-

Bad debt expenses Dr, $3,300

       To Allowance for doubtful accounts $3,300

(Being bad debts expenses is recorded)

Therefore to record the bad debt for the period we simply debited the bad debt expenses as it increase the expenses and on the other hand we credited the allowance for doubtful accounts as decrease the assets.

So, the right answer is a. debit to bad Debt expense for $3,300 option.

Working Note:-

Bad debt expenses = Estimated uncollectible - Credit balance

= $4,500 - $1,200

= $3,300

4 0
3 years ago
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