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
dezoksy [38]
4 years ago
9

Shamrock, Inc. purchases land for $490000 cash. The clinic assumes $5300 in property taxes due on the land. The title and attorn

ey fees totaled $2600. The clinic had the land graded for $6400. What amount does Shamrock, Inc. record as the cost for the land?a. $426,600. b. $420,000. c. $434,100. d. $427,500.
Business
1 answer:
Leviafan [203]4 years ago
3 0

Answer:

$504,300

Explanation:

The total cost of the land that Shamrock Inc. purchased has to include:

  • the actual price paid for the land: $490,000
  • legal fees and real estate commissions: $2,600
  • taxes due and permits, zoning fees, etc: $5,300
  • site preparation (includes land grading): $6,400

The total cost of the land is: $504,300

You might be interested in
Question 1 of 20
qaws [65]

Answer:

Historically, an initial public offering, or IPO, has referred to the first time a company

Explanation:

3 0
3 years ago
Read 2 more answers
List three pieces of information listed in a credit card agreement that you believe are important to review before signing up fo
expeople1 [14]

Explanation:

Annual Percentage Rate (APR). This is the cost of borrowing on the card, if you don’t pay the whole balance off each month. You can compare the APR for different cards which will help you to choose the cheapest. You should also compare other things about the cards, for example, fees, charges and incentives

Annual fee. Some cards charge a fee each year for use of the card. The fee is added to the amount due and you will have to pay interest on the fee as well as on your spending, unless you pay it in full.

Minimum repayment. If you don’t pay off the balance each month, you will be asked to repay a minimum amount. This is typically around 3% of the balance due.

3 0
3 years ago
Read 2 more answers
"Wayne Goodspeed falls in love with and buys a house for a price that is 5% more than the appraised value. He secures a 10% down
aalyn [17]

Answer:

Explanation:

Let the appraisal value be p.

.90 p = 220000

p = 220000 / .9

= 2,44,444

cash down payment = .1 x 244444

= 24444

Price of the house = 1.05 x 244444 ( 5% more than appraisal value )

= 256666.

6 0
3 years ago
Which depreciation method does not use an asset's residual value to calculate depreciation expense?
ira [324]

Declining-balance depreciation method does not use an asset's residual value to calculate depreciation expense.

<h3>What is depreciation?</h3>
  • In accountancy, depreciation refers to two aspects of the same concept: first, the actual decrease of fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wear, and second, the allocation in accounting statements of the original cost of the assets to periods in which the assets are used.
  • Depreciation is thus the decrease in the value of assets and the method used to reallocate, or "write down" the cost of a tangible asset (such as equipment) over its useful life span.
<h3>What does accounting depreciation mean?</h3>
  • During the asset's anticipated useful life, depreciation is allocated in order to charge a fair percentage of the depreciable amount in each accounting period.
  • Amortization of assets with predetermined useful lives is included in depreciation.

Learn more about depreciation here:

brainly.com/question/15085226

#SPJ4

3 0
2 years ago
Which education level has the highest return on investment (ROI)
ioda
The answer is a bachelor's degree.
4 0
3 years ago
Other questions:
  • Patti Company owns 80% of the common stock of Shannon, Inc. In the current year, Patti reports sales of $10,000,000 and cost of
    9·1 answer
  • My answer b am I right
    7·1 answer
  • The baldwin company has just issued $7,235,640 in dividends last year. the effect of this payment on the balance sheet is
    12·1 answer
  • The annual statements that have to be submitted at the end of each financial year must contain an overview of the internal audit
    10·2 answers
  • In 2018, Sheridan Company had credit sales of $894000. On January 1, 2018, Allowance for Doubtful Accounts had a credit balance
    7·1 answer
  • Walmart created the Great Value brand for their food products and the Equate brand for their​ pharmacy, health, and beauty produ
    9·1 answer
  • At the beginning of the video, we learn that Rosalie’s sales numbers have declined. The Marketing Director, Product Development
    5·1 answer
  • Determine the future value if $5,000 is invested in each of the following situations: 7 percent for seven years
    7·1 answer
  • What are three advantages of attending a community job fair? You can fill out job applications. You can decide whether you like
    13·1 answer
  • Which form of promotion is most suitable to promote complex and technical products such as automobiles, computers, and investmen
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!