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tensa zangetsu [6.8K]
3 years ago
8

A company purchased land for $70,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an ol

d building on the land before construction of a new building could start. Under the historical cost principle, the cost of land would be recorded at
Business
1 answer:
xxMikexx [17]3 years ago
3 0

Answer:

UNDER THE HISTORICAL COST OF PRINCIPLE THE COST OF LAND WOULD BE $82,000

Explanation:

Historical cost principle is one of many principle that is used in the accounting , where it states that the value of the asset which will be recorded in the asset side of the balance sheet will be based on the original amount of price which was incurred to acquire the asset at the time of purchase. In this we will include the broker's commission and amount spent for demolishing old building

COST OF LAND = purchase price + broker commission + cost on demolishing

                           = $70,000 + $5000 + $7000

                           = $82,000

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Tate's annual salary is $36,460 paid twice each month. How much is
Kazeer [188]

Answer:

$93

Explanation:

Social security tax is a constant figure of 6.2% for each paycheck.

Tate's annual pay is $36,000. If she is paid twice per month, it means she has 24 paychecks. ( 12 months x 2 payments).

For each payment, she receives, $36,000 divide by 24 paychecks

=$36,000 /24

=$1500

Amount withheld for each paycheck is

=6.2% of $1500

=6.2/100 x 1500

=0.062  X 1500

=$93

8 0
3 years ago
Which of the following is not an example of how media coverage of the Space Race affected the economy?
mrs_skeptik [129]

Correct option: The media only covered positive elements of the Space Race and never mentioned any setbacks.

The above given option does not talk about any aspect of media coverage of the space race and its effects on the economy. Covering only positive aspect without explaining its economic implications does not have any positive or negative effect on any economic activity, externalities or economic well being of any country. On the other hand, option B , C and D talks about economic implications.


7 0
4 years ago
Read 2 more answers
A first saving account pays 5% compounded annually. A second saving account pays 5% compounded continuously. Which of the two in
Marysya12 [62]
The account that’s compounded continuously is the better investment long-term because you accrue interest on top of interest on a daily basis which grows exponentially.
3 0
3 years ago
hile giving her students a physics exam, Professor Thompson noticed that Jack, one of her students who has been struggling with
vlada-n [284]

Answer: Gathering information

Explanation: Ethical decision making involves evaluating and choosing among different options in a way that is consistent with ethical principles. The best way to do this is to eliminate the unethical choices and choose the best alternative option.

There are various steps involved in this process. These are listed below:

1. Gather info

2. Define the ethical problem

3. Identify the parties that are affected

4. Identify the consequences

5. Identify the the principles

6. Evaluate the options

7. Choose the best option

8. Implement the decision

Professor Thompson has decided to wait until the class period ends, take both tests and compare their answers. After that she will decide what to do about the situation. Professor Thompson has thus entered the first step, which is to gather information. She doesn't want to jump to conclusions without gathering all the facts, so she is going to acquire as much info as she can about the situation before continuing. All these points add to the fact that Professor Thompson is entering the first step towards making the best ethical decision.

4 0
3 years ago
The CEO of a multinational company finds that profits are drastically decreasing. He realizes that employees need to be immediat
dangina [55]

The CEO should use videoconference. In general, one should deliver straightforward and routine communications through less rich media and challenging and unique messages through richer media.

<h3><u>What are the advantages of Media in Business?</u></h3>
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  • Cheap way of communication
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You can learn more about Multinational Corporations here:

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4 0
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