Answer:
The amount recorded in the Land account is $61,200
Explanation:
The cost of acquisition/purchase of a landed asset includes all the normal, reasonable and necessary costs incurred in obtaining the land and getting it ready for use. These cost includes the price of the land, the legal fees, title fees, taxes, excavation costs etc. On the other hand, cost of improvements on the land are recorded on improvement on asset accounts, where depreciation is put in consideration when computing cost. This is separate from acquisition cost because, there is no depreciation on a land. The cost is calculated as follows:
purchase price = $ 45,000
broker's fees = $ 8,000
accrued taxes = $ 2,000
demolition = $ 2,700
grading = $ 1,500
excavation = $ 2,000
Total = $ 61,200
I believe the answer is d., the federal budget.
Explanation:
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During the 1970s, some economists argued that the cause of the woes of the economy was due to d.) supply shock due to issues with the supply of oil
<h3>What was the
economic crisis of the 1970s?</h3>
This refers to the term that is used to discuss and describe the economic crisis that threatened to engulf the United States financial sector due to certain influences such as the 1973 oil crisis, the fall outs of the Vietnam War under President Johnson and many other factors.
Hence, it can be seen that with these factors in mind, the main argument of some economists was that the cause of the woes of the economy was due to d.) supply shock due to issues with the supply of oil as can be found in option D which is true because of the supply shock which helped to cripple the US economy.
Read more about economic crisis of the 1970s here:
brainly.com/question/1549639
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Answer:
$5,070 billion
Explanation:
Given the following:
The real GDP in a year => $3,900 billion
The price index => 130,
The nominal GDP is measured as
=> 100 -130 = 30%
=> 30% × 3,900 = 1,170
=> 1,179 + 3,900 = 5,070
Therefore, in this case, the correct answer is $5,070 billion as the nominal GDP for the year.
