Given:
280,000 for the land
110,000 for the old bldg
33,500 to tear down old bldg
47,000 to fill and level the land
1,452,000 new bldg
87,800 for lighting and paving a parking area for the new bldg.
Entries: Debit Credit
Land 470,500
Cash 470,500
(280,000 + 110,000 + 33,500 + 47,000 = 470,500)
Building 1,452,000
Cash 1,452,000
Land Improvement 87,800
Cash 87,800
Expenses incurred in preparing the land for its purpose is classified under the land account. Land does not depreciate because its useful life is unidentified.
Land improvement account is used for expenses incurred to add functionality to the land and these output has useful life and is depreciated.
Answer:
A
B
C
Explanation:
A person has comparative advantage in production if it produces at a lower opportunity cost when compared to other people.
Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives
A person should specialise in the production of goods for which they have a comparative advantage. this maximises total output
Calvin has a comparative advantage in making decals because he is faster compared to Hobbes. He should specialise in making decals.
Hobbes has a comparative advantage in making shirts because he is faster compared to Calvin. He should specialise in making shirts
Answer:
500 + 0.40q
Explanation:
A publisher prints copies of a popular weekly tabloid for distribution and sale.
Given that,
Fixed costs = $500 per print run
Variable cost = $0.40
Therefore, the cost function is as follows:
Let the number of copies printed be q,
Cost function: C(q) = Fixed cost + Variable cost
= 500 + (0.40 × q)
= 500 + 0.40q
Normalization <span>is the process of converting a poorly-structured table into two or more well-structured tables.
The main purpose of normalization is to make the table more readable by non-experts so it could be easier to use as a tool to help in the decision-making process.</span>
Answer:
a corporation by estoppel or de facto corporation.
Explanation:
A corporation by estoppel is when a person has dealings with a company like it is a corporation. Doing business with an estoppel coporation means that one has admitted that company as a coporation.
From, the question above, it can be seen thta Estuary marina dealt with deepwater dredging company as a corporation and that means that Estuary marina has admitted to Deepwater dredging as a corporation.
As a result of Deepwater dredging company's failure to perform tthe contract, the court can only hold that Deepwater Dredging is a corporation by estoppel or de facto coporation.
Cheers.
