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borishaifa [10]
3 years ago
7

Elway Company purchases land for $85,000 cash. Elway assumes $2,500 in property taxes due on the land. The title and attorney fe

es totaled $1,000. Elway has the land graded for $2,200. They paid $10,000 for paving of a parking lot. What amount does Elway record as the cost for the land?a. $88,200b. $100,700c. $90,700d. $85,000
Business
1 answer:
defon3 years ago
3 0

Answer:

c. $90,700

Explanation:

The computation of the cost of the land is shown below:

= Purchase cost of land + property taxes + attorney fees + land graded cost

= $85,000 + $2,500 + $1,000 + $2,200

= $90,700

We added the property taxes, attorney fees, and the land graded cost to the purchase cost of the land. We do not include the parking lot expenses

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3 years ago
Quizlet while most european countries are comparable to the united states in terms of the number of women in managerial position
Pachacha [2.7K]

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7 0
1 year ago
n an​ economy, the​ working-age population is 400 million. Of this​ total, 320.0 million workers are employed. 12.0 million work
MatroZZZ [7]

Answer: 83%

Explanation:

The Labour Force Participation Rate is a measure that checks the activeness of a nation's workforce.

It is calculated by dividing the segment of the population that are either working or ACTIVELY seeking employment by the total number of working age people in the economy that are not in prison.

It is assumed that unemployed people are Actively seeking employment.

In the above scenario therefore, the active population are,

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3 0
3 years ago
Based on the following information, calculate the variable overhead rate variance. Actual variable overhead cost $15,500 Actual
Nesterboy [21]

Answer:

Rate variance = $250 favorable

Explanation:

<em>The variable overhead rate variance is the difference between the actual variable cost and the standard variable overhead  cost the actual actual hours used.</em>

<em>We would compare the actual cost to the standard cost of the actual hours used . This is done below as follows:</em>

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4,200 hours should have cost (4200 × 3.75 )               15,750

but did cost                                                                       <u>15,500</u>

Rate variance                                                                 <u>      250</u>  Favorable

Note the actual hours of 4,200 cost $250 less than it should be have cost . Hence the variance is favorable

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AveGali [126]

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