Answer:
The land should be reported in the financial statements at $40,000
Explanation:
At the time of recording of the fixed assets, the fixed assets should be recorded at purchase cost or historical price
Since in the question, the land was purchased at $40,000 and moreover, it is assessed for the tax purpose for $27,000 and by other appraisers it was valued at $48,000 plus there is an offer of cash payment for $46,000
But at the time of recording, the balance sheet would show at the purchase price i.e $40,000
<span>Separate maintenance payments and alimony are deductible
by the party creating the payments and are includible in the gross income of
the party getting the payments. Therefore, income is shifted from the income
earner to the income beneficiary, who is better able to pay the tax on the amount
received.</span>
The answer would be rises
Answer:
1-Jan-2020
Dr Debt Investments (Held-to-Maturity) $419,567.77
Cr Cash $419,567.77
Explanation:
Whispering Company Journal entry at the date of the purchase
1-Jan-2020
Dr Debt Investments (Held-to-Maturity) $419,567.77
Cr Cash $419,567.77
Answer: The right answer are: a)the neighborhood will negociate to get the pollution cleaned up. b)the neighborhood will required the coal factory to clean up the pollution