Answer:
The cost of land to be reported is $174,750
Explanation:
The cost of land reported in the Balance sheet does not only include the price paid to acquire the Land but also include any costs/revenue received in the processes, activities needed to bring the land to the stage in which it may be ready for usage.
Thus, besides the price paid which is $140,000 ( $90,000 cash and $50,000 short-term note), we have to add-up all the relevant costs including Legal fees, delinquent taxes, Removal of old building expenses and deduct the material salvaged gain from demolition of old building. The construction cost of new warehouse is irrelevant here as without this cost, the Land is already in a ready-to-use stage ( i.e: for building new property in the Land)
So, the amount of Cost of Land to be reported is : 140K + 1,75K + 25K + 9K - 1K = $174,750
Push strategy would work best for Outdoor Living.
Option E
<u>Explanation:
</u>
A pushing-marketing strategy, also known as a push advertising approach, is a technique by which a business tries to push its products to customers. In either a push marketing strategy it's meant for customers to continue at the time of purchase by using different active commercialization strategies to "drive" their goods.
It is beneficial for manufacturers who try to build a distribution channel and seek help from retailers in the marketing of goods. It provides access to goods, demand for products and consumer awareness of a commodity.
Demands can be forecast and consistent because the producer will generate and drive consumer products as much or as little.
Cost reductions can be accomplished if the commodity can be manufactured on a cost because of high demand.
Answer:
E. materiality concept
Explanation:
The materiality concept refers to a concept in which it impacts the decisions of the user if there is any small impact. In other words, any small impact could change the user decisions with respect to the financial statement i.e. relevant and useful
Therefore according to the given situation, the Option E is correct
And all the other options are incorrect
Answer:
$160,000
Explanation:
On February 15, 20X8, S3 Corporation purchased the land from a non affiliate for $160,000.
That was the last operation involving a third party.
<u>The rest of the operation should not recognize any income or loss.</u>
If not, a company can create artificial gains and losses by selling the asset at diferent prices.
It will sale higher on one company to avoid a net loss
and then sale cheaper on another to decrease the taxable income.
That's why it will be "lock" at 160,00 until an operation is made with a non-affiliate company
Steam under pressure, dry heat, rubbing alcohol, buying a new one. its important to clean it after each use you might not have what you had yesterday.
