Answer:
Land 407,000
Building 750,000
Land improvements 77,000
The company will depreicate the buildign and the land improvements
But, not the land as it doesn't suffer from the past of time.
<u>Questions:</u>
Value of the assets
and which assets will the company depreciate.
Explanation:
The demolition of the old buildign should be considered cost of the period. As no asset is improved or acquire for that event.
<u>Land:</u>
80,000 cash
320,000 note payable
3,000 deliquient property tax
<u> 4,000</u> insurance costing
407,000 total land
<u>Building:</u>
cost: 750,000
<u>Land Improvements:</u>
fence 55,000
sing at entrance 15,000
lighthing <u> 7,000 </u>
TOTAL 77,000
Full question attached
Answer and Explanation:
1. Hearts R Us should account for the preferred shares series A financing as equity at issuance since it is not mandatory to redeem at issuance according to ASC 480-10-15-3
2. Here Hearts R Us may have to reclassify the preferred shares series A financing from Bionic considering no FDA approval yet and the failure of the heart valve product. Bionic has the option/right to redeem at par value in the fifth year if there is no FDA approval and so Hearts R Us would have to buy back the security from Bionic at par value(amount sold to Bionic) and classify as common stock.
Answer:
B. fact-based
Explanation:
I know business like fact-based decision's because a business wants facts to make it look good not opinions..... People need facts