Answer:
c. $ 95,000 $ 0
Explanation:
<u>Calculation of cost of land acquired</u>
For the purpose of recording of land acquired in the books of accounts, the accounting values of consideration paid shall be considered as per the generally accepted accounting principles as well as as per International accounting standard (IAS) - 16 'Property, plant and equipment'. Hence the land shall be recorded as per the following amounts:
Consideration paid in cash (A) = $ 5,000
Consideration in kind (land) (B) = $ 90,000 (Refer Note 1)
Total cost of new land (A+B) = $ 95,000
<em>Note 1</em>
Fair value is irrelevant for the purpose of capitalization of asset (IAS-16)
<u>Calculation of Gain/loss on disposal of land</u>
No gain/loss needs to be recorded as the new asset shall be recorded in terms of the book value of old asset (i.e. net impact is already taken into account during the exchange transaction)
Answer:
A. bank teller
Explanation:
bank teller is a person who manages deposits and withdrawls
If a defendant makes an untrue statement of fact about the plaintiff and the statement was intentionally or accidentally published to a third party, the defendant is held liable for misappropriation of the right to publicity-<u>The STATEMENT HOLDS FALSE</u>
Explanation:
<u>The right of publicity is violated when the unauthorized commercial use of a plaintiff's identity occurs.</u>
<u> A commercial use occurs when the defendant offers the plaintiff's identity to promote the sale of products, services, or fundraising.</u>
The statement stated in the question stands false because
- The defendant has not made any unauthorized use of the Plaintiff identity.
- No promotion of sale of any product ore services or any fundraising activity is mentioned in the question
He<u>nce ,the Statement hold's False</u>
Answer:
The correct answer is $31,850
Explanation:
Webster pays sales representatives a commission of 7% of sales dollars
( sales for February are $335,000)
$335,000 x 7% = $23,450 Comision to sales representatives
Total budgeted selling expenses for February.
$23,450 (comision)
$5,400 (sales manager salary)
$3,000 (advertising expense)
$23,450 + $5,400 + $3,000 = $31,850 Total budgeted selling expenses for February.
