Answer:
The cost of land to be reported is $174,750
Explanation:
The cost of land reported in the Balance sheet does not only include the price paid to acquire the Land but also include any costs/revenue received in the processes, activities needed to bring the land to the stage in which it may be ready for usage.
Thus, besides the price paid which is $140,000 ( $90,000 cash and $50,000 short-term note), we have to add-up all the relevant costs including Legal fees, delinquent taxes, Removal of old building expenses and deduct the material salvaged gain from demolition of old building. The construction cost of new warehouse is irrelevant here as without this cost, the Land is already in a ready-to-use stage ( i.e: for building new property in the Land)
So, the amount of Cost of Land to be reported is : 140K + 1,75K + 25K + 9K - 1K = $174,750
Signature includes any symbol, made with the intent to authenticate a writing. The confirmation that a signature on a document belongs to the person who has signed it is called signature authentication. There is also electronic signature authentication in order computer users to prove their identity. <span> E-mail, SMS, and knowledge based questions are examples of electronic signatures. </span>
Answer:
Current SMA balance is $15,000
Explanation:
SMA means special memorandum account, where excess margin recouped from investing the fund in customer's margin account is held.
Since ABC was bought for $10,000, while it's current worth is $20,000
Margin recorded = $20,000 - $10,000
= $10,000
XYZ stock sells short at $10,000, while it's current worth is $5,000
Margin recorded on short sell
=$10,000 - $5,000
=$5,000
SMA current balance
= $10,000 + $5,000
= $15,000
Answer:
A liability account in the balance sheet.
Explanation:
When rent is collected in advance, the entries required to be recognized at the point of collection is as follows;
Debit Cash account
Credit Unearned/Deferred rental revenue
The cash account is an asset while the Unearned/Deferred rental revenue is a liability account.
As such, the collection of rent in advance is A liability account in the balance sheet.
Answer:
the set goal was too ambitious or employees need to improve their performance.
Explanation:
A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or example to the employees working in an organization by being morally upright.
Generally, managers are typically involved in taking up leadership roles and as such are expected to be build a strong relationship between their employees or subordinates by creating a fair ground for effective communication and sharing of resources and information. Also, they are required to engage their staff members (entire workforce) in the most efficient and effective manner.
Business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.
Hence, when a goal is not met, a manager should assume that the set goal was too ambitious or employees need to improve their performance. Thus, the set goals for an organization shouldn't be too ambitious while encouraging employees to be up and doing in performing their duties.
