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navik [9.2K]
4 years ago
9

A building with an appraisal value of $126,112 is made available at an offer price of $155,827. The purchaser acquires the prope

rty for $39,712 in cash, a 90-day note payable for $24,525, and a mortgage amounting to $56,894. The cost basis recorded in the buyer's accounting records to recognize this purchase is a.$116,115 b.$126,112 c.$121,131 d.$155,827
Business
1 answer:
Norma-Jean [14]4 years ago
6 0

Answer:

C

Explanation:

The purchaser acquires the property  for $ 39,712

a 90-day note payable for $ 24,525

a mortgage amounting to $ 56,894

The cost basis recorded in the buyer's accounting records to recognize this purchase = $ 39,712 + $ 24,525 + $ 56,894  = $ 121,131

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The worth of the shares when the stockholder originally purchased them is $1105.

<h3>What are shares?</h3>

Shares are fractional ownership interests in a corporation. For some businesses, shares are a type of financial instrument that allows for the equitable distribution of any declared residual profits in the form of dividends.

It is assumed that the purchase price of the share is $100. As the stockholder sold her shares for $1,403, making a profit of 27%, it implies that:

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