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Shalnov [3]
3 years ago
10

Frost Enterprises buys a warehouse for $ 510,000 to use for its East Coast distribution operations. On the date of the​ purchase

, a professional appraisal shows a value of $ 610,000 for the warehouse. The seller had originally purchased the building for $ 485,000. Frost has a similar warehouse on the West Coast that has a book value of $ 526,000. Under the historical cost​ principle, Frost should record the building for:_______.A. $580,000.B. $630,000.C. $594,000.D. $525,000.
Business
1 answer:
12345 [234]3 years ago
6 0

Answer:

$510,000.00

Explanation:

Since the historical cost principle states that business must account and record most assets at their purchase or acquisition price which means the data put into record on the balance sheet would reflect amount paid for asset.

That is why it is $510000.

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What does laissez-faire mean, and who explained it in the wealth of nations?
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Answer:

C) The federal budget deficit is the​ year-to-year short fall in tax revenues relative to government spending ​ (T < G​ + TR), financed through government bonds. The federal government debt is the accumulation of all past deficits.

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Hope that helps.

4 0
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