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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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Explanation:

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It would also be important that advertising communication be carried out in colleges, through advertising on student radio or as a sponsor of sports games.

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3 years ago
___________ focuses on clarifying employees’ role and task requirements and providing followers with positive and negative rewar
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Answer:

transactional leadership

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3 years ago
QS 6-4 Perpetual: Inventory costing with FIFO LO P1 A company reports the following beginning inventory and two purchases for th
pogonyaev

Answer:

$544

Explanation:

LIFO means last in first out. It means it's the last purchased inventory that is the first to be sold.

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I hope my answer helps you

5 0
3 years ago
A nurse is caring for a client with dehydration at the health care facility. the client is receiving glucose intravenously. what
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If the company is using the payback period method and it requires a payback of three years or less, which project(s) should be s
algol [13]

Answer: Project X

Explanation:

The Payback period is the amount of time it would take for the cash inflows accruing from an investment to payoff the cost of the investment.

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= 68,000/24,000

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7 0
3 years ago
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