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frutty [35]
3 years ago
8

Wildhorse Co, purchases land for $155000 cash, Wildhorse assumes $4900 in property taxes due on the land. The ttle and attorney

fees totaled $1600. Wildhorse has the land graded for $4200. They paid $1 Bo00 for paving of a parking lot. What amount does Wildhorse record as the cost for the land? A. $160800. B. $155000, C. $184700. D. $165700
Business
1 answer:
IgorLugansk [536]3 years ago
7 0

Answer:

The correct answer is D. $165700.

Explanation:

This question requires us to tell the cost of land that will be reported by Wildhorse Co. As per accounting standards all directly attributable expenses are include in the cost of an asset. So the following amounts will be included in the cost of the asset

Cost of the land = Purchase price + Property tax + Attorney fees +land Grad

                           = 155,000 + 4,900 + 1,600 + 4,200

                           = $ 165,700

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<h3>What is meant by international trade?</h3>

This is the term that is used to refer to the trade that is carried out between two different nations.

It is when the nations are able to engage in buying and selling the goods that they have in their home countries and taking the ones that they do not have from other countries.

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8 0
2 years ago
Whenever marginal cost is greater than average total cost, A. average total cost is rising. B. marginal cost is falling. C. aver
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Answer:

A. average total cost is rising.

Explanation:

Whenever marginal cost is more than average cost it means it costs more to produce a unit now compared to the average cost of the previous units. Lets assume that a company produces 3 units  of a good.

The first unit costs $1

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The average cost is (1+2+3)/3=2

Now if the marginal cost for producing a unit is more than the average cost for example if the marginal cost is 4, then this will mean that average total cost is rising. we can mathematically check this.

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Here we see that the average cost increased from 2 to 2.5 because marginal cost was greater than average cost.

4 0
3 years ago
The difference between a​ firm's operating income and income before taxes is​ _____. The difference between a​ firm's ​before-ta
monitta

Answer: Option A

Explanation: Operating income refers to the income that the company earns from performing its core operations. It is also denoted as EBIT. Thus, the difference between operating income and income after tax is the tax that has been deducted from the operating income.

While calculating accounting profit, opportunity cost is not deducted from the revenue hence before tax and after tax depicts the investments that were made to earn that profit.

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Answer:

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