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
USPshnik [31]
3 years ago
14

On March 31, Higgins Repair Service extended an offer of $415,000 for land that had been priced for sale at $460,000. On April 1

5, Higgins Repair Service accepted the seller’s counteroffer of $437,500. On September 9, the land was assessed at a value of $375,000 for property tax purposes. On December 8, Higgins Repair Service was offered $475,000 for the land by a national retail chain. At what value should the land be recorded in Higgins Repair Service’s records?
Business
1 answer:
Arisa [49]3 years ago
8 0

Answer:

The correct answer to the following question is $437,500.

Explanation:

In their books Higgins Repair service should record the value of the land as $437,500, no matter offer the made and they offer receive for selling the land. They made a deal with seller on April 15 , to buy  the land for $437,500 and as per the cost concept or principle in accounting , an asset should be recorded in the books of account at the amount paid for acquiring it and this amount would not change in situations of inflation or change in market value.

You might be interested in
Estimate the value of a share of Intel common stock using the residual operating income (ROPI) model as of December 25, 2010; as
wariber [46]

Answer:

Using

F=P(1+i)^n equation

we will have

n=5 years

i=11%=0.11

P=5511 million

F=23424 million

7 0
3 years ago
How to access your federal reserve account?
asambeis [7]
The federal reserve account is the central bank of the United States of America. It is an independent bank in a sense that it does not need the approval of the President or any government authority to forego with their daily transactions. Only institutions have accounts in the federal reserves like commercial banks. An individual cannot access one.
4 0
4 years ago
Monica heard that as a general rule, she should spend no more than one week's pay on rent. If Monica's salary is $42,068 per yea
BlackZzzverrR [31]
The answer is $809. There are 52 weeks in a year, so $42,068/52 = $809.
8 0
4 years ago
Read 2 more answers
Hat's accounting records showed the following:
levacccp [35]

Answer:

D. $55,000

Explanation:

Sales = 250,000

Gross Profit = 250,000 x 40% = 100,000

Cost of goods sold = 250,000 - 100,000 = 150,000

Cost of good sold = Opening Inventory + Purchases - Closing Inventory

150,000 = 35,000 + 200,000 - Closing Inventory

150,000 = 235,000 - Closing Inventory

Closing Inventory = 235,000 - 150,000

Closing Inventory = 85,000

Inventory damaged by flood = 85,000 - 30,000 = 55,000

6 0
4 years ago
The ability to rapidly increase or decrease production levels, or shift from one product or service to another is known as Multi
viktelen [127]

The ability to rapidly increase or decrease production levels, or shift from one product or service to another is known as  capacity flexibility. Thus, the correct answer is C.

<h3>What is a product?</h3>

A product is refers as things or services which are use for sale. This product can both be tangible to use where as services are intangible which one can feel only.

The ability to modify total production capacity at any time by combining dependent and fixed resources is known as Capacity flexibility. All decision-making levels including strategic, tactical, and operational, contribute to make capacity decisions.

The most frequent method for increasing capacity is to add more workers, machinery, and space to the production line.

Therefore, option C capacity flexibility is the appropriate answer.

Learn more about product, here:

brainly.com/question/13117735

#SPJ1

3 0
2 years ago
Other questions:
  • A not-for-profit university operates its college book-store as an auxiliary enterprise. During the year the store has revenues o
    13·1 answer
  • The movie was great, but the sound was terrible. Many theatergoers take to social media to complain. Which action is most likely
    13·2 answers
  • Which of the following lists contains, in this order, natural resources, human capital, and physical capital?
    6·1 answer
  • New fashion stores inc received 1,000 t-shirts on the first of the month, by the end of the month the company has sold 743 shirt
    12·1 answer
  • What are the types of information salespeople need to prepare for sales dialogue?
    5·1 answer
  • While walking down a street, Jonathon accidentally bumps into Jessica who is highly aggressive. She starts yelling at him and hi
    14·1 answer
  • Wooten &amp; McMahon Enterprises produces a product with the following per-unit costs: Direct materials $13.00 Direct labor 8.80
    11·1 answer
  • Identify the helping​ verb: How many tacos will you​ eat?
    7·2 answers
  • To support herself while attending school, Daun Deloch sold stereo systems to other students. During the first year of operation
    12·1 answer
  • Compute Emily's 2018 taxable income on the basis of the following information. Her filing status is single. Salary $85,000 Inter
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!