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aev [14]
4 years ago
9

Fresh Veggies, Inc. (FVI), purchases land and a warehouse for $550,000. In addition to the purchase price, FVI makes the followi

ng expenditures related to the acquisition: broker's commission, $35,000; title insurance, $2,500; and miscellaneous closing costs, $7,000. The warehouse is immediately demolished at a cost of $35,000 in anticipation of building a new warehouse. Determine the amount FVI should record as the cost of the land.
Business
1 answer:
maw [93]4 years ago
8 0

Answer:

Land 594,500

Explanation:

We must include all cost necessary to acquire the land and lelave it ready to use.

But, the demolition cost are associate with the old warehouse thus, as thsis asset is being destroyed It will be considered period cost, It will not be capitalized through land.

Acquisition cost    550,000

broker commission 35,000

title insurance            2,500

closing cost       <u>         7,000   </u>

Total cost               594,500

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Fees paid at the time of a home loan transaction between the buyer, seller and lender are called _____.
mixas84 [53]
That fees are called the Closing costs

These payment usually being done when both the buyer and the seller close the deal.

Closing costs can be incurred by either buyer or the seller, such as :
- Attorney fees
- Survey Fees
- documentation fees
- Home Warranties , etc
7 0
4 years ago
__________________ represents the total benefits offered to consumers through a channel of distribut
bezimeni [28]
A retail value chain represents the total benefits offered to consumers through a channel of distribution
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4 years ago
True or False? Conditional formatting in Excel can make it difficult to identify data that satisfy certain conditions in a data
inn [45]
Answer:

False

Explanation:

Conditional formatting is a special feature in excel spreadsheets that allow the application of specific modification to cells that meet certain criteria.
It is most commonly used to highlight color, emphasize text or heading, and differentiate data from information stored in a spreadsheet.
7 0
3 years ago
In 2010, the average cost of a house in France is 126,000 euros. In 2018, the average cost is 154,000 euros.Using the price of t
uranmaximum [27]

Answer: D.)  1.22

Explanation:

Price in 2010 = €126,000

Price in 2018 = €154,000

Increase = 154,000/126,000

= 1.22

5 0
3 years ago
PA6.
inysia [295]

Answer:

(The data is missing so we cannot prepare the complete cash budget but lets see how it is prepared. The data given in the question has only been added in cash budget)

Cash Budget is prepared in same way as statement of cashflow. The detail cash budget format is given below.

                                             Poster Company

                                                 Cash budget

                                           1st and 2nd quarter

Cash from operations

Sales                                                                  xxxx

Purchase                                                           (xxxx)

Other expenses paid                                        (xxxx)

Net cash from operation                                   xxxx

Cash from Investment activities

Sale of Assets   (10,000+4,500)                    $ 14,500

Any investment made                                      (xxxxxx)

Net Cash from investing activities                  xxxxxx

Cash from Finance Activities

Financial Charges paid                                  ( xxxxxxx)

Dividednd paid                                              $ 4,500

Net Cash from Financing activities                xxxxxxxx

Net cash increase/ decrease                          xx/ (xx)

Opening balance                                             $60,359    

Cash balance at end                                          xxxxx

(xxx represents missing values)                                        

6 0
3 years ago
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