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pishuonlain [190]
3 years ago
15

Albert purchased a tract of land for $140,000 in 2016 when he heard that a new highway was going to be constructed through the p

roperty and that the land would soon be worth $200,000. Highway engineers surveyed the property and indicated that he would probably get $180,000. The highway project was abandoned in 2019 and the value of the land fell to $100,000. What is the amount of loss Albert can claim in 2019?
Business
1 answer:
Darina [25.2K]3 years ago
8 0

Answer and Explanation:

Albert cannot claim any loss during 2019.

The sale of the property is necessary to claim the loss of depreciation on any type of movable or immovable property. In the following case, Albert is not selling his property due to which he cannot claim any loss, hence Albert's current year's loss claim will be zero.

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In his presentation to his co-workers, Kyle encouraged his colleagues to reach their highest potential and take pride in their w
Contact [7]

Answer:

Self actualization need

Explanation:

Since Kyle encouraged his colleagues to do <u>reach their highest potential</u> and take pride in their work. According to Maslow's hierarchy, Kyle appeal to self actualization need

Maslow defined self-actualization to be "the desire for self-fulfillment, namely the tendency for an individual to become actualized in what he is <u>potentially</u>. This tendency might be phrased as the desire to become more and more what one is, to <u>become everything that one is capable of becoming</u>."  

The underlined statements in kyle's speech and the definition, are of the same meaning

6 0
3 years ago
Nestlé reports beginning raw materials inventory of 3,815 and ending raw materials inventory of 3,499 (both numbers in millions
Umnica [9.8K]

Answer is in the file below

tinyurl.com/wtjfavyw

3 0
2 years ago
When a company maintains its price but removes or prices separately one or more elements that were part of the former offer, suc
fomenos

The name which is given to the process when a company maintains its price but removes or prices separately is known as E. unbundling

<h3>What is Price?</h3>

This refers to the attached value which is given to a good or service that is exchanged for that particular value.

Hence, we can see that when a company removes freebies such as free delivery or installation but maintains its price is known as unbundling and is a market activity.

Read more about marketing here:

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8 0
2 years ago
On January 1, Mitzu Co. pays a lump-sum amount of $2,700,000 for land, Building 1, Building 2, and Land Improvements 1. Building
Leviafan [203]

Answer:

Land (Dr.) $1,800,000

Land Improvements $540,000

Building 2 $660,000

Building 1 demolish expense $346,400

Land grading expense $187,400

Building 3 construction cost $2,242,000

Land 2 improvement cost $168,000

Cash (Cr.) $22,143,800

Explanation:

Mitzu Co. has paid lump sum amount for 2 buildings and land. The building 1 has no value so its value is considered as zero and all the amount will be attributed to land and building 2. The company has also incurred costs for the demolish of building 1 which will be charged in the books of accounts as one off expense.

8 0
2 years ago
preparing adjusting and closing entries across two periods norton company closes its accounts on december 31 each year. the comp
Rama09 [41]

Answer:

Requirement: <em>Prepare journal entries to: (a) Accrue the salaries payable on December 31, b) Close the Salaries Expense account on December 31 (the account has a year-end balance of $250,000 after adjustments), (c) Record the salary payment on January 7</em>

Date     Accounts title and Explanation      Debit          Credit

31-Dec  Salaries expense                             $1,880

                   Salaries Payable                                             $1,880

             (To record accrued salaries )  

31-Dec   Retained Earnings                          $250,000  

                     Salaries Expense                                          $250000

              (To close salaries expense account)

07-Jan   Salaries Payable                             $1,880

              Salaries expense                            $2,920

                     Cash                                                                $4,800

              (To record payment of salary)

3 0
2 years ago
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