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
nignag [31]
3 years ago
15

Mark Ward is a farmer who owns land which borders on the right-of-way of the Northern Railroad. On August 10, 2007, due to the a

dmitted negligence of the Railroad, hay on the farm was set on fire and burned. Ward had had a dispute with the Railroad for several years concerning the ownership of a small parcel of land. The representative of the Railroad has offered to assign any rights which the Railroad may have in the land to Ward in exchange for a release of his right to reimbursement for the loss he has sustained from the fire. Ward appears inclined to accept the Railroad's offer. The Railroad's 2007 financial statements should include the following related to the incident:_________
A. recognition of a loss and creation of a liability for the value of the land.
B. disclosure in note form only.
C. recognition of a loss only.
D. creation of a liability only.
Business
1 answer:
professor190 [17]3 years ago
8 0

Answer:

A. recognition of a loss and creation of a liability for the value of the land.

Explanation:

This is because, in the financial statement of the Railroad company, it goes to show the financial dealings which the company had within the fiscal year under review. <em>Since, the Northern Railroad Company and Mark Ward has reached an agreement, the best would be the recognition of the loss and create a liability for the value of the land in their financial statement. It will afford the investors to be aware of the assets and liability of the company at the present time.</em>

You might be interested in
A company had beginning inventory of 11 units at a cost of $17 each on March 1. On March 2, it purchased 11 units at $28 each. O
aliina [53]

Answer:

$583

Explanation:

Under the FIFO method, we considered the first unit first comes out

The computation of the cost of units sold for 26 units is shown below:

The 26 units are taken from

11 units at $17 each, 11 units at $28 each and the remaining 4 units i.e 26 units - 22 units taken at $22 each

So,

= 11 units × $17 + 11 units × $28 + 4 units × $22

= $187 + $308 + $88

= $583

7 0
2 years ago
_____ are words that are specific to an employer’s needs or industry and improve your chances of having your résumé considered.
svp [43]
Power words are the word that are specific to an employer’s needs
4 0
2 years ago
Which statement below best answers the economic question How to produce?. . Marco's products sell at prices ranging between $2 a
BabaBlast [244]
The word "produce" involves the way the product is made and also the materials used. For this item, I would go with the third choice, "Marco uses locally harvested wood from a sustainable tree farm to make his products". This describes the materials used.
5 0
2 years ago
Read 2 more answers
U.S. exports create a:____.
alisha [4.7K]

Answer:

B) Supply of foreign currencies and a supply of dollars in the foreign exchange markets

Explanation: just search it up they don't demand for foreign currencies they supply of foreign currencies

5 0
2 years ago
What is the primary role of consumers in a free market economy?
S_A_V [24]

Answer:

The consumer is the one who pays to consume the goods and services produced.

Explanation:

As such consumers play a vital role in the economic system of a nation. In absence of effective demand the producers would lack a key to motivation

4 0
2 years ago
Other questions:
  • Define a binary variable as ecobuy = 1 if ecolbs &gt; 0 and ecobuy = 0. in other words, ecobuy indicates whether, at the prices
    5·1 answer
  • The _____ guarantees payment to employees of a basic retirement benefit in the event that financial difficulties force a company
    15·1 answer
  • Select the items below that describe why scarcity exists.
    8·2 answers
  • If you invest $9200 in a savings account with a yearly interest rate of 3% for 7 years, how much simple return did you earn....
    7·1 answer
  • Amanda keeps bees to produce honey. each hive produces $300 worth of honey each month. the table below shows amanda’s marginal c
    6·1 answer
  • rippett Industries manufactures cleaning products. During the year, the company spent $600,000 on chemicals and $728,000 on conv
    11·1 answer
  • Barker Corp. has a beta of 1.10, the real risk-free rate is 2.00%, investors expect a 3.00% future inflation rate, and the marke
    6·1 answer
  • If a company sells its smart phones for $400 and the phones have a COGS of $250, how many additional phones would the company ha
    7·1 answer
  • When do the parents enter the echo stage
    8·1 answer
  • Five years from today, you plan to invest $2,500 for 7 additional years at 8.4 percent compounded annually. How much will you ha
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!