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Alenkinab [10]
4 years ago
11

The Open Grill incurred the following costs in acquiring a new piece of land:Cost of the land $ 80,000. Commissions 4,800.Liabil

ity insurance for the first year 1,200. Cost of removing existing building 20,000. Sale of salvaged materials(4,000). Total costs $102,000.
What is the total recorded cost of the land?

A. $102,000.
B. $100,800.
C. $106,000.
D. $80,000.
Business
2 answers:
rodikova [14]4 years ago
8 0

Answer:

B

Explanation:

we are to calculate the total land cost recorded in this question;

To get the cost recorded we do the following;

Cost of land recorded = cost of land + commissions + cost of removing existing building - sale of salvaged materials on land

cost of land recorded= 80,000+ 4,800 + 20,000 - 4,000 = $100,800

vesna_86 [32]4 years ago
6 0

Answer:

$102,000

Explanation:

Cost of land is derived based on the purchase price and every other cost incurred towards preparing it for use. These cost include commission , legal fees , bank charges , survey fees , title search fees , land preparation fees and other.

It is important to know that any form of revenue earned through the land shall be net off against the cost to arrive at the total value.

Cost of the land - $80,000

Commission - $ 4,800

Insurance - $ 1200

Decommissioning cost - $ $20,000

Sales of Salvaged material ($4000)

Total cost = $102,000

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Joan grows pumpkins. If Joan plants no seeds on her farm, she gets no harvest. If she plants 1 bag of seeds, she gets 500 pumpki
valkas [14]

Answer: Option (B) is correct.

Explanation:

Correct option: Decreasing marginal product.

Marginal product is the change in the level of output, when there will be an extra input employed in the production of a certain commodity.

So, Marginal Product = \frac{change\ in\ Q}{Change\ in\ I}

Where,

Q = Output

I = Input

Marginal product of 1st bag = 500

Marginal product of 2nd bag =  \frac{800-500}{2-1} = 300

Marginal product of 3rd bag =  \frac{900-800}{3-2} = 100

∴ From the above calculations, we can seen that as we employed one more bag of seeds as a result marginal product goes on diminishing.

Hence, Joan's production function exhibits decreasing marginal product.

3 0
4 years ago
One of the global institutions that emerged over the past 75 years is GATT which stands for the General Agreement on Tariffs and
hichkok12 [17]

GATT  is a very common term in business. One of the global institutions that emerged over the past 75 years is GATT which stands for the General Agreement on Tariffs and Trade.

<h3>What is the meaning of GATT?</h3>

The word simply means General Agreement on Tariffs and Trade. This  General Agreement is known to covers international trade in goods.

They are involved in Trade negotiations. The WTO is regarded as the successor to the General Agreement on Tariffs and Trade (GATT) set up after the Second World War.

Learn more about GATT from

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5 0
2 years ago
Of money's three functions, the one that distinguishes money from other assets is:
NNADVOKAT [17]

Answer:

Medium of Exchange

Explanation:

The main function that distinguishes money from other assets is that everybody accept the money as a medium of exchange, either for our job or to buy things that we are interested.

Always through history the main function of money was to be a medium of exchange because at the begining money didn't exist so you needed to use different things, first salt, then precious metal and today money as we know.

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Which of the following statements about cover letters is false?
Law Incorporation [45]

The false statement about cover letters is that: C. a cover letter is sent before a résumé so that the employer knows it is coming.

<h3>What is a cover letter?</h3>

A cover letter can be defined as a type of letter that is attached as an introduction and it generally accompanies another document such as a résumé.

This ultimately implies that, the false statement about cover letters is saying it's sent before a résumé to an employer of labor, so he or she knows it is coming.

Read more on cover letters here: brainly.com/question/24136973

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7 0
2 years ago
The beef industry denies that "mad cow" disease is an issue in the U.S., resists increased inspections of cattle arriving slaugh
vfiekz [6]

Answer: Reactive Public Relation

Explanation:

Here, in this particular case we can state that the reactive public relation tends to best describe this approach taken by the industry. Traditionally, the reactive public relation is known to be referred when there is a requirement for crisis management. For several organizations , the known resort still tends to be reactive public relation.

4 0
3 years ago
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