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slamgirl [31]
3 years ago
6

Kieu Corporation constructs a new warehouse. It pays $100,000 for materials and $70,000 to the general contractor. Architectural

fees total $18,000. The corporation pays $13,000 in interest on its loan to finance construction. The land costs $15,000, and the real estate taxes paid on the land during construction amount to $1,000. What is Kieu's initial basis in the warehouse?
Business
1 answer:
garik1379 [7]3 years ago
8 0

Answer:

$204,000

Explanation:

Initial cost basis is the amount of cost capitalized in the purchase of an asset for tax and other purposes.It consists of purchase price , development fees , professional fees  estate taxes and others.

Please note that finance cost is not included as it is recorded as expenses over the life of the loan.

Workings

Materials - $100,000

Contractor fees - $70,000

Architectural fees - $ 18,000

Cost of land  $ 15,000

Estate taxes - $1000

Total cost =$204,000

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Skippy loves peanut butter. Skippy reads on the internet that 75 percent of the peanut crop in the South has been wiped out by d
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d. ​ Skippy’s demand for peanut butter increases today.

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The taste and preferences of the consumers are one of the factors affecting the demand for the goods. The demand for goods increases according to tastes and preferences. Another factor of an increase in demand is the expectation of a consumer regarding the future prices of the goods.

In the given scenario, Skippy's demand for the peanut butter will increase because of the above mentioned two reasons. Since he is very much fond of the peanut butter, the demand will remain constant. At the same time, after reading about the future unavailability of the peanut butter and the increase in the price of it, the demand for the peanut butter will rise the present day.

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Your accounting manager has decided that a behavioral interview to select accountants will solve many hiring problems. What can
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