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
Shalnov [3]
3 years ago
14

On May 20, White Repair Service extended an offer of $108,000 for land that had been priced for sale at $140,000. On May 30, Whi

te Repair Service accepted the seller's counter offer of $115,000. On June 20, the land was assessed at a value of $95,000 for property tax purposes. On July 4, White Repair Service was offered $150,000 for the land by a national retail chain. At what value should the land be recorded in White Repair Service's recordsa. $115,000 b. $108,000 c. $140,000 d. $95,000
Business
1 answer:
Masteriza [31]3 years ago
8 0

Answer:

A

Explanation:

In this question, we are asked at what value should the land be recorded in White Repair services records.

Technically, the value of land is to be recorded as purchase price plus improvements.

Generally, what we mean by improvements include such fees such as attorney fees. Looking at the question, we cannot find any of the entries that speaks about payment yo an attorney or any general land issue. This means that we only record the value of the land as purchase price only.

Looking at the question, the purchase price is the accepted seller’s counter offer. This value is $115,000. Hence, it is the value at which the land would be recorded in White repair service records

You might be interested in
How walmart motivate thier employees?
dybincka [34]
They offer a Extrinsic reward, it’s a reward such as money gifts and recognition. This reward is used by Walmart to motivate their workers for extrinsic motivation Walmart to encourage their workers through health care benefit and financial benefit.
3 0
3 years ago
The united states has more of what per employee than any other industrial nation?
Sav [38]

Managers, this is symbolic of how business is run in U.S. culture.

4 0
3 years ago
Read 2 more answers
14. Suppose that the production of $1 million worth of steel in Canada requires $100,000 worth of taconite. Canada’s nominal tar
VMariaS [17]

Answer:

The effective rate of protection for Canada’s steel industry is 21%

Explanation:

The computation of the effective rate is shown below:

Steel percentage = (Production worth of steel) ÷ (Taconite worth)

                             = ($1,000,000) ÷ ($100,000)

                             = 10%

And the tariff rate for steel is 20%

And the taconite percentage is 10%

So, the effective rate would be equal to

= Tariff rate for steel + taconite percentage × steel percentage

= 20% + 10% × 10%

= 20% + 1%

= 21%

7 0
3 years ago
Compensation for top executives (e.g., CEOs and CFOs) has become more variable over time. For example, recent data show that in
Luba_88 [7]

Answer:

Because :- CEOs & CFOs can have significant impacts throughout the entire business, & the type of reward plan will encourage the CFOs to work in a more rational manner.

Explanation:

CEOs & CFOs are a part of upper level of management of an organisation. Effectiveness & Efficiency of their managerial skills is very crucial to management of company. So, to encourage proper management of companies by senior managers, they can be incentivised by mix of fixed & variable salary structure. The variable component of salary as per company performance under CEO or CFO, positively motivates them to improvise their performance, which subsequently improves company performance.

3 0
3 years ago
Gary Marks is paid on a monthly basis. For the month of January of the current year, he earned a total of $8,338. FICA tax for S
deff fn [24]

Answer:

$1,057.86

Explanation:

Payroll taxes include:

  • Social security tax withholdings 6.2% (on the first $132,900 of wages paid) = 6.2% x $8,338 = $516.96
  • Medicare tax withholding 1.45% = 1.45% x $8,338 = $120.90
  • Federal unemployment taxes (FUTA)  0.6%  = $7,000 x 0.6% = $42
  • State unemployment taxes (SUTA) 5.4% = $7,000 x 5.4% = $378

total payroll taxes = $1,057.86

4 0
3 years ago
Other questions:
  • A company purchased merchandise to be resold at increasing costs during the year 2019. The purchases were made at the following
    12·1 answer
  • Blank is a tool of monetary policy in which the Federal Reserve buys and sells blank
    10·1 answer
  • What would a follower of the market segmentation theory say about the supply and demand for​ long-term loans versus the supply a
    5·2 answers
  • Ursus, Inc., is considering a project that would have a ten-year life and would require a $3,330,000 investment in equipment. At
    15·1 answer
  • The eu is an example of a trading bloc, or a______________, which has a common external tariff, no internal tariffs and the coor
    11·2 answers
  • The market value balance sheet for Scotty Inc. shows cash of $42,000, fixed assets of $319,000, and equity of $237,000. There ar
    10·1 answer
  • Suppose the dollar amount of the externality, per gallon of gasoline, is constant, regardless of how much gasoline is produced.
    9·1 answer
  • The following transactions occur for Cardinal Music Academy during the month of October: Provide music lessons to students for $
    5·1 answer
  • Why would the introduction of new products cause a stock price to change?<br>help:&gt;​
    14·1 answer
  • What is the IRR for a project that costs $100,000 and provides annual cash inflows of $30,000 for 6 years starting one year from
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!