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Marianna [84]
3 years ago
15

On July 1, 2018, Larkin Co. purchased a $400,000 tract of land that is intended to be the site of a new office complex. Larkin i

ncurred additional costs and realized salvage proceeds during 2018 as follows:Demolition of existing building on site $75,000Legal and other fees to close escrow 12,000Proceeds from sale of demolition scrap 10,000What would be the balance in the land account as of December 31, 2018?a. $400,000.b. $475,000.c. $477,000.d. $487,000
Business
1 answer:
jeka57 [31]3 years ago
3 0

Answer:C. $477,000

Explanation:

Asset are initially recognized at price and other attributable cost. The cost includes tax paid on the assets e.g Vat, legal cost for attorney, delivery, installation, site preparation, professional fees e.g Architect. All income earned from testing the asset or incidental to the asset installation are deducted to arrive at a final cost value.

In the above scenario the price of the land $400,000 is added to demolition cost $75,000, plus the legal fees of $12,000 are all added to $487,000 and the proceed of $10,000 from sales of demolition scrap will be deducted to have a final cost of $477,000.

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Suppose there are 2,000 people who are unemployed as a result of cyclical unemployment and 1,000 people who are unemployed as a
olga55 [171]

Answer:

1,000

Explanation:

Suppose the town of Boone has a total population of 50,000 people. Of those, 45,000 people are employed. There are 1,000 full-time students who are not employed or actively seeking work. The rest of the people are out of work but have been actively seeking work within the past four weeks.

This information is not given in the question.

For computing the frictional unemployment, first we have to determine the unemployed which is shown below:

Number of unemployed would be

= Total population - employed - full time students

= 50,000 - 45,000 - 1,000

= 4,000

Now the frictional unemployment would be

=  Unemployed - cyclical unemployment - structural unemployment

= 4,000 - 2,000 - 1,000

= 1,000

5 0
3 years ago
"refer to your way, inc. what type of products is sold at your way?"
hjlf
Your way, inc is a furniture store located in Dallas, Texas, United States, it makes unique and fine pieces of furnitures, they also repair and recover them. 
4 0
3 years ago
Andre's Dog House had current assets of $67,200 and current liabilities of $71,100 last year. This year, the current assets are
e-lub [12.9K]

Answer:

$1400

Explanation:

Net working capital is obtained by subtracting total current liabilities from total current assets.  Current assets and liabilities are expected to be used or paid within one year.

Change in net working capital would be the change in current assets - change in current liabilities.

last year  current assets  $67,200 : current liabilities $71,100

This year  current assets  $82,600 : current liabilities  $85,100

change Net operating capital = {$82,600- 67,200} - {85,100 - 71,100}

                     =$15,400 -14,000= -$1400

Change in networking capital = $1400

8 0
3 years ago
Today, most salespeople are well-educated, well-trained professionals who work to build and maintain long-term customer relation
stepladder [879]

Answer:

b. False

Explanation:

The above is false because sales people are supposed to build and maintain long term relationships with their customers by listening to and assessing their needs and not teaching their customers. Sales people create a concerted effort towards solving those needs experienced by their customers.

A salesperson represent the image of the company he or she is selling for, hence must be professional and well trained because the company gets profit through his interactions with the customers. This means that before the company gets profit, customers must be satisfied because these salespeople act as critical link between the company and its customers.

4 0
4 years ago
Zohrina is a top manager at her current company. However, she is leaving the company for a better job at a competing firm. Which
TEA [102]

Answer:  

VOLUNTARY TURNOVER

Explanation:

Voluntary turnover refers to a kind of change that happens when workers choose to exit their jobs voluntarily. For a number of different reasons workers can choose to abandon the jobs. Workers may feel unhappy with their job or rewards, may be pursuing a new career or could have acknowledged another bid.

One way to mitigate the volunteer turnover would be to make some effort in the recruitment process to assess the "work match" or work appropriateness of a candidate for a given position. Employers will try to evaluate the probability that certain potential employees in current jobs would feel content and motivated.

8 0
3 years ago
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