Answer:
Required 1.
Land = $163,215
Land improvements = $65,286
Buildings = $97,929
Required 2.
Land $163,215 (debit)
Land improvements $65,286 (credit)
Buildings $97,929 (credit)
Cash $310,000 (credit)
Explanation:
Allocation of the purchase cost must be made on the bases appraisal value.
Total Appraisal Value = $215,000 + $86,000 + $129,000
= $430,000
Land = $215,000 / $430,000 × $326,430
= $163,215
Land improvements = $86,000 / $430,000 × $326,430
= $65,286
Buildings = $129,000 / $430,000 × $326,430
= $97,929
Answer: basic information for the organization as a whole.
Explanation:
Private Not-for-profit organization as the term implies, are not operating to make a profit therefore their financial statements will generally not include measures that are aimed at showing profit like profit making organizations.
They will instead focus on talking about the entire organization as whole and what it has done so far in the current period. This is what is required of them by U.S. GAAP.
Answer:
Note: The complete question is attached below as picture
Indication of how they should be reported are as follow:
1) Budgetary Schedules : FINANCIAL SECTION AS RSI (RSI)
2) Letter of Transmittal : INTRODUCTORY SECTION (I)
3) Legal debt limitations and debt margin : STATISTICAL SECTION (S)
4) A description of government's financial conditions : FINANCIAL SECTION AS MD&A (MDA)
5) Property tax collection and levy information : STATISTICAL SECTION (S)
6) Defined benefit pension plan schedules : FINANCIAL SECTION AS RSI (RSI)
7) Financial highlights of the fiscal year : FINANCIAL SECTION AS MD&A (MDA)
8) Auditors report : FINANCIAL SECTION (F)
9) 10-year data trend : STATISTICAL SECTION (S)
10) Notes to the financial report : FINANCIAL SECTION (F)
The tires and the pedals and on the helmet
Answer:
$30.40
Explanation:
($40 million − $2 million) / 1.25 million shares = $30.40
