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
cluponka [151]
3 years ago
8

If a company is considering the purchase of a parcel of land that was acquired by the seller for $96,000 is offered for sale at

$172,000, is assessed for tax purposes at $106,000, is considered by the purchaser as easily being worth $162,000, and is purchased for $159,000, the land should be recorded in the purchaser's books at:
Business
1 answer:
77julia77 [94]3 years ago
4 0

Answer:

The land should be recorded in the purchaser's books at $159,000.

Explanation:

Book keeping is the important term in the accounting and it records all the information of purchasing and selling amount from for a specific person to a large company.

As the buyer purchased the land in $159000, thus in his book it should be recorded as land purchased for $159000, and all the persons involved init from seller to intermediate organizations. All other tax processes and assessed values does not relate with the buyer. He just payed for the land and recorded it. Other values will be recorded in the book of seller and the book of intermediary organizations involved who assessed the land value as for the recording purposes.

You might be interested in
Parker owned all of Odom Inc. Although the Investment in Odom Inc. account had a balance of $834,000, the subsidiary's 12,000 sh
Lorico [155]

Answer:

$128,400

Explanation:

Account balance $ 834,000,

Subsidiary's 12,000 at $56 per share. Odom Issued 3,000 at $70 per share

$ 56 X 12,000 = $672,000

$ 672,000+ $70 X 3,000 = $ 882,000

$ 882,000 X .80 = $ 705,600

$ 705,600 – $ 834,000 Investment Account Balance = $128,400

Therefore Reduction in Investment Account is $128,400

The Transaction affect the Investment in Odom inc account because their is reduction in the investment Account from $834,000 to $128,400

3 0
3 years ago
Economics is the study of how people try to satisfy unlimited wants and needs with limited resources.
Viefleur [7K]

Answer:

Economics is the social science that studies how people use scarce resources to satisfy unlimited needs and wants.

so yes the answer is true

Explanation:

(つ◕౪◕)つ━☆゚.*・。゚

☆*。★゚*♪ヾ(☆ゝз・)ノ

5 0
3 years ago
Read 2 more answers
Which of the following is true?
Sloan [31]

d if work is for school you mau

6 0
3 years ago
Read 2 more answers
Once auctioned on Monday or Tuesday, Treasury Bills are issued to the winning bidders and must be paid for immediately following
UNO [17]

Answer:

C. Thursday

Explanation:

Once auctioned on Monday or Tuesday, Treasury Bills are issued to the winning bidders and must be paid on Thrusday immediately following the auction date.

Federal reserves conduct treasury bill auction on Monday or Tuesday. Treasury bills are auctioned weekly and one year Treasury bill are auctioned monthly. Amount of securities represented by non competitive bills are withheld from auction and are filled with average winning yield, these bids are taken priority.

3 0
3 years ago
Consider two processes. If both versions create the same benefit, but one costs more than the other, the higher-cost version is
vova2212 [387]

Consider two processes. If both versions create the same benefit, but one costs more than the other, the higher-cost version is less Efficient than the lower-cost version.

<h3>What is Process Quality?</h3>

Process Quality = measured in two dimensions: process effectiveness and process efficiency

Effective Business Process = enables the organization to accomplish its strategy. ex: investigating whether 3D printing will help accomplish the strategy of having the largest selection of parts in the industry

Efficiency Business Process = the ratio of benefits to costs. ex: consider two versions that create the same benefit, but one costs more than the other does, meaning the higher-cost version is less efficient than the lower-cost version/if both versions cost the same, but one generates less benefit than the other, then the lower-benefit one is less efficient.

Learn more about Efficiency Business Process on:

brainly.com/question/18559769

#SPJ4

8 0
1 year ago
Other questions:
  • Direct effects of FDI arise when jobs are created in local suppliers as a result of the FDI and when jobs are created because of
    6·1 answer
  • A disadvantage of static budgets is that they a.do not allow for possible changes in activity levels b.show the expected results
    8·1 answer
  • What type of technology would be needed to gather evidence of a jet stream?
    14·1 answer
  • Suppose that the economy enters into a recession and​ that, as a​ result, Rusty Z. Wrench loses his job as a delivery truck mech
    6·1 answer
  • Which type of educational worker will most likely help students find books outside the classroom to help them write research pap
    11·1 answer
  • Knowledge Check 01 Simpson Company purchased $900 of equipment by paying cash and recorded the expenditure as a purchase of land
    8·1 answer
  • You have been managing a $3 million portfolio. The portfolio has a beta of 1.10 and a required rate of return of 10%. The curren
    11·1 answer
  • While rachael, a psychology major at the local university worked frantically at her job at groovy rags retail in anticipation of
    8·1 answer
  • If you sold 5 menu items one week, then 10 the next, then 12 the next, then 15 the next, what terms best describe this pattern?
    12·1 answer
  • The double-declining-balance rate for calculating depreciation expense is determined by doubling the straight-line rate. Assumin
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!