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Nostrana [21]
4 years ago
14

On February 3, Snap Repair Service extended an offer of $83,000 for land that had been priced for sale at $95,000. On February 2

8, Snap Repair Service accepted the seller's counteroffer of $90,000. On October 23, the land was assessed at a value of $135,000 for property tax purposes. On January 15 of the next year, Snap Repair Service was offered $144,000 for the land by a national retail chain.At what value should the land be recorded in Snap Repair Service's records
Business
1 answer:
astra-53 [7]4 years ago
8 0

Answer:

$90,000

Explanation:

As per the historical cost principle, the assets should be recognized at the purchase price or the historical cost. In this, no other cost should be recognized such as assessed value, land improvements, etc

Since in the given question the Snap Repair Service accepted the seller counter offer i.e. $90,000  so the same is to be presented in the financial statements  

hence, the land should be recorded at $90,000

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The current share price is approximately $69.47

<h3>What is the Share price?</h3>
  • The cost of one share of a group of marketable equity shares of a firm is known as the share price.
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  • Analysts estimate the behavior of asset prices, especially share prices in stock markets, using random walk approaches in economics and financial theory.
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Share price =$13.5 × 5.146122761

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Hence, the current share price is approximately $69.47

To learn more about Share price from the given link

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1 year ago
Lee starts entering data into the table. He types in the mass of Mercury. Next, he wants to type in the diameter of Mercury.
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Generally, an activity-based costing uses multiple cost pools such as manufacturing cost or customer services and multiple cost drivers such as direct labor hours worked, number of changes used in engineering department, etc.

Cost pool is simply the amount of money spent by a firm on a particular activity.

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