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
scoray [572]
2 years ago
11

If a company is considering the purchase of a parcel of land that was acquired by the seller for $94,000, is offered for sale at

$168,000, is assessed for tax purposes at $104,000, is recognized by the purchaser as easily being worth $158,000, and is purchased for $155,000, the land should be recorded in the purchaser's books at:
a. $155,000.
b. $104,000.
c. $158,000.
d. $156,500.
e. $168,000.
Business
1 answer:
stepan [7]2 years ago
8 0

Answer:

a. $155,000.

Explanation:

For recording the land value in the purchaser's books we reported the value of the land at the purchase price i.e $155,000 by following up the historical cost principle that states only purchase price would be reported

The other cost is not considered because it is not relevant for recording in the purchaser books

So, the actual amount in which land is purchased would be reported i.e $155,000

You might be interested in
10. Stone Industries has three product lines: X, Y and Z. The following information is available: Product X Product Y Product Z
Trava [24]
The answer is 44,000
7 0
3 years ago
Health care, insurance, recreation and other intangible products are provided by the:
LekaFEV [45]

Answer:

B) service industry. 

Explanation:

Service industry usually provide intangible products.

I hope my answer helps you

4 0
3 years ago
A company owns land that is used as a softball diamond and recreational park for hosting employee picnics. Once a year the compa
olga_2 [115]

Answer:

Commercial General Liability Policy will not provide compensation for injured caused by softball to the Director

Explanation:

Commercial General Liability (CGL) is an insurance policy that provide protection and assurance to a business organisation against any legal liability arising from the use of its property, while in the premises of the insured, from use of product.

The Commercial General Liability  provides the coverage below:

-Liability arising from Bodily injury and property damage

-Liability arising from Personal and advertising injury and Medical payments

In this director scenario, the CGL have in its provision and condition to provide compensation for the injury caused as a result of their actions (e.g. building collapse, left broken bottles, bad product which directly affected third party) but the director was injured by his own accompanied property and have no relation whatsoever with the Land company. Hence no indemnity or compensation will be provided under the Commercial General Liability Policy.

6 0
3 years ago
Assume a duopoly of office supply big box stores where each carries the same merchandise and each advertises that it will "meet
Vladimir79 [104]

.jnnnnnnnnnnnnnnnnnnnnnnnnn

3 0
2 years ago
Explain why making the minimum payment leads to paying the most interest
Rama09 [41]

Paying the minimum interest on an account balance leads to paying the most in interest because you will make the payments over a longer period of time. The sooner you get the balance paid off, the less amount of interest you will pay. Interest stacks on top of each other over the length of time to pay the debt off.

4 0
2 years ago
Other questions:
  • What are the big six foodborne illness
    15·1 answer
  • If a manager designs the shoe department in a manner that one of its private-label pairs of shoes, priced at $39.99, is position
    5·1 answer
  • The great disparity in economic prosperity between north and south korea can best be explained by the​ _____________.
    8·1 answer
  • The main difference between companies following a broad low-cost strategy and those following a focus low-cost strategy is in th
    6·1 answer
  • Trisha is appointed as the new CEO of an automobile manufacturing company. She decides to introduce a new set of organizational
    7·1 answer
  • You bought a stock three years ago and paid $45 per share. You collected a $2 dividend per share each year you held the stock an
    5·1 answer
  • ¿Un producto tiene una EPD de 0,73. Qué podemos decir acerca de la Elasticidad de este producto? Explique.
    15·1 answer
  • Bonds are basically also known as what?
    11·1 answer
  • Level strategy withing the business
    11·1 answer
  • dale is a stay-at-home-parent whose typical day consists of getting the kids ready for school, doing the laundry, cooking three
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!