1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
solniwko [45]
3 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]3 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      

You might be interested in
The number of international tourists visiting Asia and the pacific In 2010 was
ikadub [295]

I think the answer is 204 million

3 0
3 years ago
Read 2 more answers
Hi guys, i need urgently some help with this question
klasskru [66]

Answer:

Accounting rate of return, also known as the Average rate of return, or ARR is a financial ratio used in capital budgeting. The ratio does not take into account the concept of time value of money. ARR calculates the return, generated from net income of the proposed capital investment. The ARR is a percentage return. Say, if ARR = 7%, then it means that the project is expected to earn seven cents out of each dollar invested (yearly). If the ARR is equal to or greater than the required rate of return, the project is acceptable. If it is less than the desired rate, it should be rejected. When comparing investments, the higher the ARR, the more attractive the investment. More than half of large firms calculate ARR when appraising projects.

Explanation:

hope this helps

4 0
2 years ago
What is an extrinsic value​
MAVERICK [17]

Answer:

Extrinsic value is the portion of the worth that has been assigned to an item by external factors.

Hope this helped a little!

3 0
3 years ago
Using the summary of the accident, calculate the total dollar value of the property damage
NARA [144]

Answer:

The summary of the accident, calculate the total dollar value of the property damage  Stephanie caused is explained below in detail.

Explanation:

The term 100/300/100 coverage indicates that a character has coverage of $100,000 physical damage mortgage coverage per person, $300,000 total physical damage mortgage insurance per accident, and $100,000 property loss accountability per accident.

So, in case Stephanie prompted a property and accident destruction, then $1,00000 will be sustained by the insurance corporation and above this value, it will be paid by Stephanie.

8 0
3 years ago
You can probably use the 1040EZ form, as long as what is true?
AleksAgata [21]
As long as you have no dependents

1040EZ is the simplified tax paying form made by IRS. In order to use it you juts have to select your tax filling status and enter some details for your tax counting.

But if you have a dependent ( like a spouse who claimed that you should pay for your child's education fund) , you can not use 1040EZ
3 0
3 years ago
Read 2 more answers
Other questions:
  • Contours, Inc., knows each drill bit can cut approximately 100,000 holes before the hole size is smaller than the print specific
    14·1 answer
  • All of the following are services that are available at banks except _____.
    9·1 answer
  • Sales Tax Transactions Journalize the entries to record the following selected transactions: a. Sold $62,800 of merchandise on a
    9·1 answer
  • A limited partnership: Multiple Choice a. has an unlimited life. b. can opt to be taxed as a corporation. c. terminates at the d
    15·1 answer
  • At the end of a long meeting with many new people, four people are overheard having a heated conversation. Isabel and Linda are
    7·1 answer
  • Celine Co. will need €500,000 in 90 days to pay for German imports. Today's 90-day forward rate of the euro is $1.07. There is a
    13·1 answer
  • If the constructor function is a machine to create object instances, then the _____ is the blueprint for the objects that are cr
    15·1 answer
  • A project has 70% probability of doubling your investment in a year and 30% probability of halving your investment in a year. Wh
    10·1 answer
  • in preparing the operating activities section of a statement of cash flows using the indirect method, net income should be adjus
    13·1 answer
  • Staci invested $900 three (3) years ago. Her investment paid 10.8 percent interest compounded monthly. Staci's twin sister Shell
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!