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
nydimaria [60]
3 years ago
13

Loom Enterprises buys a warehouse for $520,000 to use for its East Coast distribution operations. On the date of the purchase, a

professional appraisal shows a value of $640,000 for the warehouse. The seller had originally purchased the building for $480,000. Loom has a similar warehouse on the West Coast that has a book value of $531,000. Under the historical cost principle, Loom should record the building for ________.
Business
1 answer:
Ann [662]3 years ago
5 0

Answer:

$520,000

Explanation:

The cost principal is a basic underlying guidelines in accounting. Companies record assets at their cost, at the time of the purchase and over the time asset is held.

The historical cost principle provides a point of reference for all financial statement users and appropiate market values may be used in financial analysis when deemed necessary.

All transactions are recorded at their original cost, the purchased price. In this case, is $520,000.

You might be interested in
Cholula hot sauce, a mexican made chili-based sauce brand, is introducing a new hot sauce flavor and wants to use its owners’ un
Flura [38]

Since Cholula company is sampling the new sauce at a number of supermarkets in texas, where there are multiple market segments likely to enjoy hot sauces, then, the tactics employed is called <u>motivating</u><u>.</u>

<u />

<u />

<h3>What is motivating?</h3>

The term "motivating" is not limited to employee and employer, it is used by firm to induce potential and existing customer to buy their product.

In conclusion, the tactics employed by Cholula company is called <u>motivating</u><u>.</u>

<u />

Read more about motivating

<em>brainly.com/question/6853726</em>

6 0
2 years ago
Fresh fish is not an effective form of money. What essential characteristic of money does fresh fish lack that most makes it ine
Misha Larkins [42]

Answer:

Medium of exchange

Explanation:

Fresh fish is not an effective form of money. Fresh fish lacks medium of exchange, which makes it ineffective.

4 0
3 years ago
Which one of the following items is not generally used in preparing a statement of cash flows? Group of answer choices Adjusted
Katena32 [7]

Answer:

Adjusted trial balance

Explanation:

In financial accounting, statement of cash flow can be regarded as a financial statement which give details of how changes that occur in balance sheet accounts as well as income have effect on cash as well as cash equivalents, it also helps in breaking down of analysis to operating as well as investing and other financing activities.

It should be noted that the following items are generally used in preparing a statement of cash flows;

✓Comparative balance sheets

✓Current income statement

✓Additional information

5 0
2 years ago
ou need to give the customer something that they need." This statement best reflects the beliefs of marketers during the _____ E
kobusy [5.1K]

Answer: Marketing Era

Explanation:

The Marketing Era is one of the so-called eras of Marketing which defined how producers related to customers and hence try to show how marketing has changed over the years.

In the Marketing Era , the focus of producers was to give the customers items they actually needed and wanted so that instead of having to convince customers to buy goods that the company made which the customers may not have wanted, by making what the customer actually wanted, they would not have to spend so much on convincing them.

6 0
3 years ago
All of the following are considered examples of disreputable conduct for which a CPA can be disbarred or suspended except Direct
ivann1987 [24]

Answer:

Failure to timely pay personal income taxes.

Explanation:

Rules of Conduct

This is simply said to be a full stated guidance to aim to help an auditor in applying broad principles contained in AICPA's Code of Professional Conduct

These Disreputable conduct if commited by an attorney, certified public accountant, or enrolled practitioner, it can therefore lead to them being disbarred or suspended from practice before the Bureau.

Rules sometimes do changes over time due to the fact that members of profession encountered specific ethical dilemmas in complying with the principles of the code

There are 6 Principles of the AICPA Code of Professional Conduct. They cover:

1. Responsibilities

2. The Public Interest

3. Integrity

4. Objectivity

5. Due Care

6. Scope and Nature of Services

The disreputable conduct for which a CPA can be disbarred or suspended includes the following;

1. When they Directly or indirectly attempting to influence the official action of any employee of the Internal Revenue Service by use of threats or false accusations or by bestowing any gift, favor, or thing of value.

2. Knowingly aiding and abetting another person to practice before the Internal Revenue Service during a period of suspension or disbarment.

6 0
2 years ago
Other questions:
  • An employee receives an hourly wage rate of $16, with time and a half for all hours worked in excess of 40 hours during a week.
    11·1 answer
  • Jeff and Rhonda are married and have two children, Max and Jen. Max is 20, attends college in the Los Angeles area full-time, an
    11·1 answer
  • Need help please ?????
    12·1 answer
  • Which of the following is TRUE about owning a share of stock?
    10·1 answer
  • Nova Electrics anticipates cash flow from operating activities of $12 million in 20X1. It will need to spend $9.5 million on cap
    5·1 answer
  • An individual bank will lose reserves to another bank when a check is written and deposited at the second bank.A) True B) False
    8·1 answer
  • An analyst in the corporate finance department at Chase Manhattan Bank has been assigned to an interdepartmental project involvi
    5·1 answer
  • As a result of an increase in the growth rate of the money supply: __________
    12·1 answer
  • _ is the actual amount each common stockholder would expect to receive if a​ firm's assets are sold for their market​ value, cre
    12·1 answer
  • Your company’s human resource manager is away from the office serving in the National Guard, and you have four open positions to
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!