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solniwko [45]
2 years ago
5

On June 25, Easy Repair Service extended an offer of $150,000 for land that had been priced for sale at $171,000. On July 9, Eas

y Repair Service accepted the seller's counteroffer of $163,000. On October 1, the land was assessed at a value of $245,000 for property tax purposes. On December 22, Easy Repair Service was offered $261,000 for the land by a national retail chain.At what value should the land be recorded in Easy Repair Service's records?
Business
1 answer:
Lelu [443]2 years ago
5 0

Answer:

$163,000

Explanation:

According to the historical cost principle, the value of the fixed assets should be recorded at purchase price or  acquired price or historical cost

Since it is given that the seller counter offer is $163,000 and the same is to be recorded in the company books of accounts.

If there is value assessed, or any increment in the value of the land so it would be ignored. It only records the purchase price of the land      

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Which one of the following statements is correct?
Marianna [84]

Answer:

b. Income from both sole proprietorship and partnerships is taxed as individual income.

Explanation:

According to the following statements, the correct option is b. as income from both sole proprietorship and partnerships is taxed as individual income as there is no specific tax rates or separate tax rate so, in this forms of business organization, the income that is generated should be filed in their individual tax return

Hence, all other given statements are wrong as a general partnership is totally different from the corporation plus partnership is not the most complicated form of business. Neither all business organizations have by-laws nor the sole proprietorship has limited lives but the partnership has also limited lives.

3 0
3 years ago
No formal steps are necessary to create a sole proprietorship. True or false?
larisa86 [58]

Answer:

True

Explanation:

5 0
3 years ago
A firm based in mexico has found its growth is restricted by the limited liquidity of the mexican capital market. what are the f
Ronch [10]

The searching companies can work for equity or debt loans in order to raise money on global capital markets. The debt of a foreign institution, lender, and other debt suppliers is also an option to raise money in the capital market. As equity loans include the sale of equity to investors, the issue of bonds is part of debt loans. Capital costs are usually less than in the domestic market and the company can even borrow money from the bank. And enterprises need to be very careful to take into account the risk of adverse exchange rates because, if the peso is to be depreciated, they should be aware of the cost of acquiring the currency needed to repay a foreign exchange loan.

Moreover, foreign equity, floating foreign or Eurobonds offerings, or borrowing on the Euro currency markets may be considered by the Mexican firm. The euro currency market would then certainly provide the company with additional funding at a lower rate domestically. And if the peso decreases in the next 2 years, the company has to repay the credit in a different currency unless the company can use the future market. The value of euro currency loans would definitely be reduced.

We can recognize that the use of both foreign and euro bonds has the same disadvantages as the bonds have to be repaid in an anti-peso currency. The international bond market has important points that are worth considering, given the fewer regulations, disclosure requirements, and fiscal implications if the currency risk can be properly analyzed and minimized. Since the foreign equity market requires no payment to its stockholders and also has the greatest independence from its actions, it is perhaps the most attractive for the company. So, if the hesitations are to be overcome, investors will likely have loan strong growth prospects.

Learn more about loans here

brainly.com/question/25239160

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5 0
11 months ago
When an employee comes late to the office, an internal attribution will occur if there is low _____, low ______ and high _____.
coldgirl [10]

Answer:

B. consensus; distinctiveness; consistency.

Explanation:

Internal attribution: It is the case of human behavior that causes the attribution, such as ability, skills, personality, etc. it is also known as dispositional attribution. In this case, individual does not blame external factor or attribution, instead, they use an internal cause for their behavior.

In the given case, the employee comes late to the office, he will use internal attribution for his behavior if there is low consensus, low distinctiveness of other factors  and high consistency of getting late.

3 0
3 years ago
​Joe's starting salary as a mechanical engineer is around ​$100 comma 000. Joe is planning to place a total of 13​% of his salar
Maru [420]

Answer:

$ 2,209,797.96

Explanation:

Given:

Salary = $100,000

Salary investment rate = 13%

Salary increase rate(g) = 5%

number of year = 25

Annual rate of return(i) = 11%

Calculation:

Salary invested = $100,000*13% = $13,000

calculation of present worth

P=A[\frac{1-(1+g)^n(1+i)^{-n}}{i-g}] \\P=13000[\frac{1-(1+0.05)^{25}(1+0.11)^{-25}}{0.11-0.05}] \\P=13000[\frac{1-(1.05)^{25}(1.11)^{-25}}{0.06}] \\P=13000[\frac{1-(3.386354)(0.073608086)}{0.06}]\\\\P=13000[\frac{1-0.249263}{0.06}]\\\\ P=13000[12.5122827]\\\\\\P= 162,659.675

Future worth = P(1+i)^n\\                       = 162,659.675(1+0.11)^{25}\\                       = 2,209,797.96

3 0
3 years ago
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