Answer:
D. $460,500
Explanation:
Given that
Cost of parcel of land = 450000
Legal fees = 3000
Broker's fees = 7500
Therefore,
Amount recorded as cost of parcel of land is
Cost of parcel of land + legal fees + brokers fee
= 450000 + 3000 + 7500
= $460,500
When purchasing land, fees like commissions, legal fees, bank fees, title fees and other expenses added before the land can be used are considered as part of the land's cost. Hence the answer.
Answer:
c. decreases the value of its bonds
Explanation:
There is a significant decrease in the value of the bond if the firm declares bankruptcy.
Answer:
Software development to be recognized = Cost incurred after achievement of technological feasibility = $400,000
Explanation:
Useful life = 4 years
Annual amortization = $400,000 / 4 years = $100,000
Period of amortization in 2016 = July 1, 2016 to December 31, 2016 = 6 months
Year 2016 amortization = $100,000 × 6 months/12 months = $100,000 × 1/2 = $50,000
Answer:
d. Single-use plans are operational plans, whereas standing plans are tactical plans.
Explanation:
Standing plans are prepared for the entire organization aiming to achieve the organizational goals, thus, prepared by top level management, and is not changed after it is prepared.
Whereas the single-use plans are prepared by the lower level management for achieving daily targets and thus, changes every day, the plan is for operational purposes and do not involve any tactics.
Whereas the standing plans include all the tactical steps to achieve the organizational goals.
Well it is the toltal of the cost that will be created by it did it and got it correct