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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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galina1969 [7]

Answer:

The correct answer is A.

Explanation:

Giving the following information:

Future Value= $420,000

Number of periods (n)= 4*3= 12 quarters

Interest rate (i)= 0.085/4= 0.0213

<u>To calculate the quarterly deposit, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= quarterly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (420,000*0.0213) / [(1.0213^12) - 1]

A= $31,086.79

6 0
3 years ago
Which one of the following affects cash during a period?
inysia [295]

Answer: d. Payment of an accounts payable

Explanation:

The payment of an accounts payable affects cash because it means that cash was used to pay off the payable in question and therefore the cash that the company holds has now reduced.

In the Statement of Cashflows, this is accounted for under the Operating Activities of the business. A decrease in accounts payable is subtracted from the net income to show that cash has reduced.

5 0
2 years ago
How is the market supply curve derived from the supply curves of individual producers?.
NNADVOKAT [17]

The way that the market supply curve is derived from the supply curves of individual producers is by horizontally adding the individual supply curves.

<h3>How is the market supply curve estimated?</h3>

The market supply curve is estimated by adding up all the individual supply curves in the market. This therefore shows the total amount os supply for a good or service in the market.

The way that this addition is done is by horizontally adding the supply curves. What this means is that the quantities that are being offered by each individual suppliers at the various prices in the market, are added up to come up with the market supply curve.

Options for this question are:

  • a. finding the average price at which sellers are willing and able to sell a particular quantity of the good.
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Find out more on the market supply curve at brainly.com/question/26430220

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8 0
1 year ago
For years 2010 to 2015, the computers produced and shipped in highest quantity were _____. (note: all the choices represent a ki
ArbitrLikvidat [17]
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6 0
2 years ago
Which one of the following accounts will have a credit balance?
Tems11 [23]

Answer:

Common Stock

Explanation:

We know that

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