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Bogdan [553]
3 years ago
5

Metlock, Inc. purchases land for $430000 cash. The clinic assumes $4600 in property taxes due on the land. The title and attorne

y fees totaled $2900. The clinic had the land graded for $8000. What amount does Metlock, Inc. record as the cost for the land?
Business
1 answer:
m_a_m_a [10]3 years ago
5 0

Answer:

The recorded balance will be = $445500

Explanation:

We have given that Metlock purchases the land for cash $430000

Property tax = $4600

The title and attorney fee = $2900

The clinic had a land graded for $8000

We have to find the amount the Metlock lnc record as the cost of land

The record will be equal to = $430000+$4600+$2900+$8000= $445500

So the recorded balance will be = $445500

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Answer:

the banks will eventually make new loans totaling 9,000 and the money supply will increase by 10,000

Explanation:

The money multiplier is 1/0.10= 10. If 1,000 new dollars of currency are deposited in the banks, they must hold $100 as required reserves and can lend out $900. Through the money multiplier, loans will increase by $900*10= $9000. The expansion of the money supply is the original deposit + the increase in loans or $1,000+ $9,000= $10,000

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3 years ago
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If a boil water alert has been issued, it is essential you follow this warning to prevent illness.

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4 0
3 years ago
Assume Metro Corporation had a net income of $ 2,200 for the year ending December 2018. Its beginning and ending total assets we
Aleksandr-060686 [28]

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Now in order to find the return on assets we will divide the net income by the average total assets.

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7 0
3 years ago
In a wholly owned or closely held corporation, there really is little distinction between the functions of a board of directors
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<h3>What is a board of directors and board of advisors? </h3>

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In conclusion, it is true that there is little distinction between the functions of a board of directors and those of a board of advisers in a wholly owned or closely held corporation.

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<em>brainly.com/question/4771644</em>

8 0
2 years ago
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