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SVETLANKA909090 [29]
3 years ago
15

On May 19, Easy Repair Service extended an offer of $123,000 for land that had been priced for sale at $141,000. On June 4, Easy

Repair Service accepted the seller's counteroffer of $134,000. On October 10, the land was assessed at a value of $201,000 for property tax purposes. On February 5 of the next year, Easy Repair Service was offered $214,000 for the land by a national retail chain.
At what value should the land be recorded in Easy Repair Service's records?
Business
1 answer:
mylen [45]3 years ago
6 0

Answer:

$134,000.

Explanation:

According to the rules of GAAP,  the asset's value recorded in the books is the cost at which it was acquired. The recorded value becomes the assets book value. For tangible assists such as land, motor vehicles, and buildings, the book value will comprise the actual assets' cost plus all other acquisition related costs such as agents fee and surveys fee.

For easy service repairs, the price it paid was $134,000. It accepted the counteroffer, meaning it paid that amount for the land. No other related costs are mentioned. $134,000 is the book value for the land.

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If a firm offers a service that is valuable, rare, and costly to imitate, but a substitute exists for the service, the firm will
Shalnov [3]

Answer:

c. have a temporary competitive advantage

Explanation:

In this case, it is correct to say that the company has a temporary competitive advantage, as there is a substitute for its valuable, rare and expensive service to imitate.

The company gained a competitive advantage in the market for being the only one to offer that service, which by the attributes confer barriers of entry for new competitors, but when there is a substitute for the service and that have the same characteristics, it is correct to say that the company it will lose its competitive advantage in a matter of time, because with more competitors in the market it is common for there to be some loss of market share, so in this case it is ideal for the company to adapt and seek new attributes to innovate, generate more value for consumers and so seek a differential that will guarantee you a higher position in the market.

5 0
2 years ago
Assume real per capita GDP in West Swimsuit is $10,000 while in East Quippanova it is $2,500. The annual growth rate in West Swi
Alex787 [66]

Answer:

correct option is B. about 30 years

Explanation:

given data

real per capita GDP west = $10,000

annual growth rate = 2.33%

real per capita GDP east = $2,500

annual growth rate = 7%

to find out

How many years will it take for East  to catch up GDP of West

solution

we know here that future value is equal to real GDP of west after time  will be

future value = real per capita GDP west × rate^{t}

future value = 10000 × (1+0.0233)^{t} .....1

and

future value = real per capita GDP east × rate^{t}

future value = 2500 × (1+0.07)^{t} .....2

compare equation 1 and 2

10000 × (1+0.0233)^{t}  = 2500 × (1+0.07)^{t}

4 (1.0233)^{t}  =  (1.07)^{t}

t = about 30 years

so correct option is B. about 30 years

5 0
2 years ago
Germany is capital abundant country and Japan is labor abundant country. If computers are produced mostly by capital and beer is
wel

Answer:

If computers are produced mostly by capital and beer is produced mostly by labor, the H-O model predicts that

Germany will export computers in exchange for beer.

Explanation:

The H-O model or Heckscher-Ohlin theory is an economic model about the comparative advantages of nations in international trade.  The model tries to explain the equilibrium of trade existing between two countries that have varying specialties and natural resources.  According to the H-O model, countries export more goods and services for which they have plenty resources than they do for goods and services for which they have scarce resources.  For example, if a country has capital in abundance, it will export more of capital-intensive products while it will import labor-intensive products, because it has scarce labor resources.

6 0
2 years ago
Martin Company needs additional time to pay its accounts payable to Boster Company. Martin makes a written promise to pay Boster
Anika [276]
The answer, on the point of view of Boster, is A. Debit notes receivable and credit accounts receivable (not payable i think). This is from the point of view of Boster. So to Boster, he will have an accounts receivable by Martin company. So what Martin did is that he offered a promissory note to Boster. This will increase Boster's notes receivable. At the same time, this will also lessen Boster's accounts receivable since this turned into a notes receivable. 
3 0
3 years ago
Which would be an example of sustainable development? a. Current use of fossil fuels in the U.S. b. Heap-leach extraction of gol
Setler [38]

Answer:

The correct answer is letter "D": Development of brownfields in urban areas.

Explanation:

In urban planning, sustainable development refers to continuous activities that can be performed during extended periods of time. They are the result of repeated patterns of individuals who, sometimes unconsciously, provoke more and more individuals to repeat their actions.

Under such a scenario, <em>the development of brownfields in urban areas is the result of building more department complexes in the cities because of the increasing need for renting and selling houses as a result of the increasing population growth.</em>

5 0
3 years ago
Read 2 more answers
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