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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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Answer:

d. A customer survey

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Nominal gdp is a good snapshot of the current value of production in an economy but it cannot be used to make comparisons over t
shepuryov [24]

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2 years ago
Another bank is also offering favorable terms, so Rahul decides to take a loan of $18,000 from this bank. He signs the loan cont
Snowcat [4.5K]

Answer:

The total amount that Rahul owes the bank at the end of the loan's term is $18,455.61

Explanation:

Hi, in order to find the total amount that Rahul will owe the bank in 3 months, we need to use the following formula (this is for a compounded daily rate).

FutureValue=PresentValue(1+\frac{r}{365} )^{\frac{n*365}{12} }

Where:

r = compounded rate (in our case, 10% compounded daily)

n = time in months of the loan

PresentValue = $18,000

Everything should look like this.

FutureValue=18,000(1+\frac{0.10}{365} )^{\frac{3*365}{12} }

FutureValue=18,000(1+0.000273973 )^{91.25 }=18,455.61

So, the total amount that Rahul owes the bank at the end of the loan's term is $18,455.61

Best of luck

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