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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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When an existing contract is replaced with an entirely new contract , it is called
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2 years ago
Excerpt from Areojet Corporation records for month of February: Per Unit Per Month Selling price $ 200,000 Direct materials used
EastWind [94]

Answer:

Work in process= $192,000

Explanation:

Giving the following information:

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3 years ago
Sorenson LLC, a publicly traded company, has ten members on its board. Of the ten members, six members are employees of the comp
Vesnalui [34]

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D. 7

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3 years ago
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Answer:

24%

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For the taxes due on April 2020 (current year taxes):

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