1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Burka [1]
3 years ago
13

February 1, 2018, Salisbury Company purchased land for the future factory location at a cost of $112,000. The dilapidated buildi

ng that was on the property was demolished so that construction could begin on the new factory building. The new factory was completed on November 1, 2018. Costs incurred during this period were: Item Amount Demolition dilapidated building $2,000 Architect Fees $11,250 Legal Fees - for title search $1,450 Interest During Active Construction Period $5,025 Real estate transfer tax $975 Construction Costs $605,000 Using this information, how much should be recorded as the cost of the land?
Business
1 answer:
Maru [420]3 years ago
6 0

Answer:

The cost of the land should be recorded as $108,350

Explanation:

Land cost =                                     $112,000

Demolition dilapidated building = $2,200

Legal fees - title search =               $1,450

Cost of land = Land cost - Demolition dilapidated building - Legal fees - title search

Cost of land = $112,000 - $2,200 - $1,450

Cost of land = $108,350

You might be interested in
during its first year of operations, silverman company paid $11,440 for direct materials and $9,900 for production workers' wage
algol13

The amount of finished goods inventory on the balance sheet at year-end is $11,880

What is the cost of producing 5,600 units?

The cost of producing the finished goods of 5,600 units is the sum of direct materials, workers' wages and lease payments and utilities on the production facilities

total production costs=direct materials+ production workers' wages+ lease payments and utilities on the production facilities

total production costs=$11,440+$9,900+$8,900

total production costs=$30,240

cost per unit=$30,240/5,600

The finished goods inventory is units produced minus the units sold

finished goods inventory=5600-3400

finished goods inventory=2,200

finished goods inventory on the balance sheet=2200*$30,240/5,600

finished goods inventory on the balance sheet=$11,880

Find out more about inventory valuation on:brainly.com/question/17230868

#SPJ1

4 0
1 year ago
Depreciating assets: a become more valuable over time. b become less valuable over time. c stay the same value. d none of the ab
NemiM [27]
Depreciating means to become less valuable over time, so I believe the correct answer is <span>b. become less valuable over time.</span>
6 0
3 years ago
Read 2 more answers
What are the <img src="https://tex.z-dn.net/?f=%20%5Ctt%20%5Cpink%7BPrinciples%7D%20" id="TexFormula1" title=" \tt \pink{Princip
Fantom [35]

\boxed{\huge \frak{answer}}

<h3>There are fourteen principles of management. They are:</h3>

  1. Division of work
  2. Authority and responsibility
  3. Discipline
  4. Unity of Command
  5. Unity of Direction
  6. Subordination of individual interest
  7. Remuneration
  8. Centralization
  9. Scaler Chain
  10. Order
  11. Equidity
  12. Stability
  13. Initiative
  14. Escript de Crops

\boxed{ \frak{have \: a \: nice \: day}}

\boxed{ \frak{be \: brainly}}

8 0
2 years ago
A program trade is:_________. A. a trade of 10,000 (or more) shares of a stock. B. a trade of many shares of one stock for one o
neonofarm [45]

Answer:

The answer is: D

Explanation:

Program trading is the use of computer programs or algorithms to trade a portfolio of stocks at a high frequency and in large numbers. These algorithms, essentially 'machine traders', are created  to make trades on behalf of humans and are anticipated to have more precision and speed than human traders. However, these trades are created, monitored and analysed by human traders. The New York Stock Exchange classifies the coordinated trading of a group of 15 or more stocks with a combined market value of $1, 000, 000 as program trading.

6 0
3 years ago
When a firm has international operations, choosing the most appropriate structure depends upon the extent of international expan
valkas [14]

Answer:

True

Explanation:

When a firm has international operations it should choose the most appropriate structure based on the following factors:

  1. extent of international expansion: into how many international regions do we plan to expand our activities.  
  2. the type of strategy: the have to choose between global, multidomestic or international strategy
  3. the degree of product diversity: on how many additional markets will our products compete? regionally or globally

Although 1 and 3 may be similar, there can be significant differences. For example, a US company may want to start selling their products in all of South America (regional product diversity), but it will do it by setting a South American office in Brazil only (international expansion is limited to Brazil only).

5 0
3 years ago
Other questions:
  • What is the name for a treasury certificate given by the government to an investor in exchange for money? A. Earned income B. Ca
    10·1 answer
  • Corporation includes $200,000 of $1 par common stock and $400,000 par of 6% cumulative preferred stock. The board of directors o
    11·1 answer
  • The Jewel Golf Club Company, which recently began using a kanban system, has had problems with high inventory levels of one of t
    9·1 answer
  • Ngata Corp. issued 18-year bonds 2 years ago at a coupon rate of 9.5 percent. The bonds make semiannual payments. If these bonds
    8·1 answer
  • Integrated communications are necessary to achieve situational awareness. (True/False)
    14·1 answer
  • Comment on the statement that "Independence is not easily achieved where an auditor is hired, paid, and fired by the same corpor
    9·1 answer
  • The intent of corporate advertising is to make sure that all of a company's products are seen in a common, positive manner. True
    12·1 answer
  • If bonds are issued at a premium, the stated interest rate is a.higher than the market rate of interest b.too low to attract inv
    7·1 answer
  • Which best describes the barrier to trade known as dumping? Destroying shipments of imports to force consumers into purchasing d
    7·1 answer
  • Budgeting helps consumers reach their financial goals by helping them do which of the following?
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!