Answer:
$90,000
Explanation:
As per the historical cost principle, the assets should be recognized at the purchase price or the historical cost. In this, no other cost should be recognized such as assessed value, land improvements, etc
Since in the given question the Snap Repair Service accepted the seller counter offer i.e. $90,000 so the same is to be presented in the financial statements
hence, the land should be recorded at $90,000
Answer:
Free-rein Leadership
Explanation:
Free-rein leadership popularly known as Laissez-Faire is the process where leaders gives members the freedom to make decisions. In situations like this, a larger goal or objective is set and members are given the free role to make appropriate decisions needed is completing set goal or objective. In this case, managers of various departments at Schwinn are given total freedom by their overall boss to operate their various departments the best way they see fit.
Answer:
c. Utilities expense is a mixed cost and rent expense is a fixed cost.
Explanation:
Seacrest Enterprises
1000 units 5000 Units
Total Cost Total Cost /Unit Total Cost Total Cost/Unit
Direct materials $5,000 $5.00 $25,000 $5.00
Utilities expense $1,000 $1.0 0 $3,750 $0.75
Rent expense $4,000 $4.00 $4,000 $0.80
Direct Materials show variable Costs
Utilities expense show mixed costs
Rent Expense show fixed costs
The correct answer is
c. Utilities expense is a mixed cost and rent expense is a fixed cost.
Answer:
e. the total of currency in circulation, plus depository institution reserves and vault cash
Explanation:
Monetary base is a concept in money supply that measures highly liquid assets in an economy.
It includes all cash that is in circulation in the economy and those deposits that are held as reserves by the central bank from commercial banks. Cash in bank vaults are also included because they are readily available to the economy.
For example if there is $200 million in circulation and there is $13 billion in the central bank as reserves from commercial banks, the total monetary base is $13.2 billion
