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Llana [10]
4 years ago
14

If a company is considering the purchase of a parcel of land that was acquired by the seller for $86,000 is offered for sale at

$152,000, is assessed for tax purposes at $96,000, is considered by the purchaser as easily being worth $142,000, and is purchased for $139,000, the land should be recorded in
the purchaser's books at:__________.
Business
1 answer:
Lerok [7]4 years ago
6 0

Answer:

$139,000

Explanation:

The value of an asset is recorded in the book as the price at which it was acquired. The cost of the land will be recorded as the price which it was paid for or the purchase price.  

In asset acquisitions, the value of land includes the purchase price plus all other relevant expenses such as legal fees, commissions, and survey fees. Discounts received are deducted from the purchase price before the price is recorded in the books. An organization will value and depreciate its assets based on the price it purchased them.

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Which of the following statements about torts is correct?
swat32

Hello There!

Your answer would be <u>C). A tortious act may also be a criminal act.</u>

The reason why C would be your answer is because a tortious act is something that harms someone in any way. The reason why it "may" be a criminal act is because determine if the tortious act is a criminal act really depends on the scenario that is occurring. For example, someone could cause a tortious act in a way of self defense, this scenario would be debatable because the person that committed the tortious act had a valid reason in doing so, and that was protecting themselves. But, if a person was to cause a tortious act by  hurting someone to steal from them, then that would definitely be a criminal act because they are performing dangerous things to someone else, and the person could file a lawsuit against it.

Let's dive into why the other answer choices are incorrect. We can use the old fashion process of elimination:

Answer choice "A). A tortious act is always a criminal act" is incorrect because it is not always a criminal act, it depends on the scenario it's in. This is the reason why this answer choice would be eliminated.

Answer choice "B). A criminal act is always a tortious act" is incorrect because there are MANY criminal acts that doesn't harm anyone, for example, tax evasion (not paying taxes) is a criminal act, but does not cause any harm to anyone. This is the reason why this answer choice would be eliminated.

Answer choice "D). A tortious act is the same as a contract dispute" is incorrect because harming someone is not the same as not doing what a contract says. A contact dispute is when someone that's part of a contract did not do a duty that the contract says that they're suppose to do, and that usually doesn't have to be any harm to anyone. That would not be the same as a tortious act, harming someone. This is the reason why this answer choice would be eliminated.

6 0
3 years ago
Effective sales promotion activities target: Group of answer choices employees only. customers only. employees, dealers and cust
xenn [34]

Effective sales promotion activities target dealers and customers.

<h3>What is an effective sales promotion?</h3>

Sales promotion are all the activities and methods undertaken by a producer to increase sales of its products to the users or marketers of the products. The users of a product include customers and dealers are the marketers of the product. An effective sales promotion has to target both parties.

To learn more about business promotion, please check: brainly.com/question/1421217

#SPJ1

8 0
2 years ago
Assume that all commercial banks are loaned up. Total deposits in the banking system are $800 million. The required reserve rati
bearhunter [10]

Answer:

increase

Explanation:

Reserve ratio is the percentage of deposits that is required of commercial banks to keep as reserves. The lower the ratio, the higher the increase in money supply

For example, assume reserve ratio is initially 10% of deposits. It is later reduced to  5%. 1000 is deposited

Increase in money supply = deposit / reserve ratio

1000 / 0.1 = 10,000

1000 / 0.05  = 20,000

Money supply increased when reserve ratio was decreased

4 0
3 years ago
Harper Corp.'s sales last year were $395,000, and its year-end receivables were $42,500. Harper sells on terms that call for cus
Ilya [14]

Answer:

9 average days late

Explanation:

Days Sales Outstanding - Allowed credit period = average days late

Days Sales Outstanding

\frac{Account \: Receivable}{Sales} \times 365 = DSO

\frac{42,500}{395,000} \times 365 = DSO

DSO = 38.81012658 = 39 days

Days Sales Outstanding - Allowed credit period = average days late

39 - 30 = 9 average days late

7 0
3 years ago
The collection of an account that had been previously written off under the allowance method of accounting for uncollectibles: a
Lesechka [4]

Answer:

The correct option is D

Explanation:

Under the method of allowance, the uncollectible accounts receivable will be recorded in the same accounting period as the sale of an estimate of the bad debt expense. So, the collection of the account which was earlier written off, will not have any affect on the income in the period or year it is received or collected.

3 0
3 years ago
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