1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nataliya [291]
3 years ago
15

"Fresh Veggies, Inc. (FVI), purchases land and a warehouse for $460,000. In addition to the purchase price, FVI makes the follow

ing expenditures related to the acquisition: broker's commission, $26,000; title insurance, $1,600; and miscellaneous closing costs, $5,400. The warehouse is immediately demolished at a cost of $26,000 in anticipation of building a new warehouse. Determine the amount FVI should record as the cost of the land."
Business
1 answer:
Artyom0805 [142]3 years ago
5 0

Answer:

Cost of land = $519,000

Explanation:

<em>According to  International Accounting Standards (IAS)  16, property plants and equipments, the cost of land includes all of the cost necessary to bring and make it ready for the intended use. </em>

<em>These costs include purchase cost, fees and commission associated with the purchase transaction. </em>

<em>Further more, included in the historical cost are the net demolition cost of old structure to prepare the land for use. Net cost here means cost of demolition less any incidental proceed from the old structure.</em>

Note that all the costs incurred by FVI as reported all fall into the above definition of  cost of land.

Therefore the cost of the land would  be

=460,000 + 26,000 + 1,600+ 5,400 + 26,000

= $519,000

You might be interested in
Clients are increasingly asking advertisers for ______, agreements on campaign-specific outcomes and consensus on how the effect
Minchanka [31]

Answer:

accountability metrics

Explanation:

Accountability metrics  are used by companies to measure the specific financial results of marketing campaigns. Marketing campaigns are expensive and require a lot of resources, both financial and labor resources, and as competition between producers increases, so does competition among marketing firms. The best way a marketing firm can increase its clients is by showing that their campaigns are effective, so every dollar invested by their clients will generate positive returns.

6 0
3 years ago
A deficit on the current account Multiple Choice means that a nation is making international transfers. has no relationship to t
Sliva [168]

Answer:

The correct option is C

Explanation:

The deficit or shortage on the current account of the country, is defined as the measurement or determination of the trade of the company where the goods and the service value, it imports exceeds or increase the value of the products it exports.

The current account of the country states the foreign transactions of the country within the time period.

So, when there is deficit or shortage on the current account, it means that usually, it will cause deficit in the finance as well as the capital account of the country.

4 0
3 years ago
People get too stressed when they try to work fast
grandymaker [24]
That is true, was that your question? :)
8 0
3 years ago
Read 2 more answers
Suppose you purchased 500 shares of Jet-Electro Corporation stock at a price of $22.50 per share. One year later, the shares are
viva [34]

Answer:

C) 0.0 percent

Explanation:

The net return on any investment is what we receive from the investment in addition to the purchase price paid.

In the given instance the investor pays $22.50 per share as an investment cost, to acquire such shares. Number of shares purchased = 500

Now at the end of the period the shares are sold for $21 each

Also the dividend per share received is $1.50

Thus, total return = $21 + $1.50 = $22.50 per share.

This is exact same as that of the investment price.

Thus net return = Total benefits - Cost = $22.50 - $22.50 = $0

Since net return is $0 the value of return in percentage shall also be $0.

6 0
3 years ago
________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want thr
Thepotemich [5.8K]

Answer:

The correct answer is C

Explanation:

Marketing is the one which is concerned with the management as well as the study of exchange relationship. It is the process of business of establishing the relationship with the customers through exchange the value.

As it is used to attract the customers, the primary components of business commerce and management.

So, marketing is the process of managerial and social through which the groups and the individuals obtain what they want and need by exchanging and creating products and value with others.

3 0
3 years ago
Other questions:
  • All of the following are true statement about working conditions during the construction of transcontinental railroad EXCEPT whi
    5·2 answers
  • Should color and design be used in emails
    12·2 answers
  • According to recent market research, Google is one of the most valuable brands in the world. According to this research, the com
    14·1 answer
  • This marketing strategy involves marketing products that are similar to ones already on the market and are in-line with cultural
    6·1 answer
  • Which one of the following statements concerning venture capital financing is incorrect? Multiple Choice Venture capitalists des
    7·1 answer
  • Eckman Company purchased equipment for $80,000 on January 1, 2011, and will use the double-declining-balance method of depreciat
    6·1 answer
  • Innova uses 1,100 units of the component IMC2 every month to manufacture one of its products. The unit costs incurred to manufac
    8·1 answer
  • Explain briefly why manufacturing offers so many careers in such varied fields.
    11·2 answers
  • Kohl Company lent $49,587 to Hemingway, Inc, accepting Hemingway's 2-year, $60,000, zero-interest-bearing note. The implied inte
    14·1 answer
  • Ignoring income taxes, the annual net income amount used to calculate the accounting rate of return is:_____.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!