Answer:
See below
Explanation:
The cost of land to be included in the balance sheet would not only include the price paid to acquire the land but also include cost or revenue received in the process while also include all activities required to bring the land to the stage in which it may be ready for usage.
With regards to the foregoing, the cost of land to be included in the balance is is
= Cash paid + short term note + legal fee + delinquent taxes + Fees paid to remove old building from the land - sales of materials salvaged from demolition of the building
= $40,000 + $306,000 + $1,665 + $13,100 + $22,500 - $5,200
= $378,065
Therefore, cost of land to be included in the balance sheet is $378,065
The trend this business is following is necessities, since those are things we need.
Answer:
Value
Explanation:
Value is a customer's subjective assessment of benefits relative to costs in determining the worth of a product.
When a consumer gets all his/her wants fulfill from the purchase of the product, at that point we can say that value is achieved. Value is basically a difference between the consumer benefits and costs. Value is very important aspect to develop customer relationship for long term.
Thus, Value is the answer for the question.
