Answer: See explanation
Explanation:
From the question, we are informed that Knight Corp. obtained land by issuing 3,000 shares of its $10 par value common stock and that the land was recently appraised at $72,000 while the common stock is actively traded at $25 per share.
When recording the acquisition of the land, what amounts will be recorded in the Land and Common Stock accounts goes thus:
Debit: Land 3000 × $25 = $75000
Credit: Common stock = 3000 × $10 = $30,000
Therefore, the amount that will be recorded in the Land is $75000 and Common Stock accounts is $30000
The best and most correct answer among the choices provided by your question is the fourth choice or letter D.
<span>The main purpose of the company known as Credit Mobilier was to f</span><span>ilter money from inflated construction back to the company shareholders.</span>
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Given Information:
P = $14,500
r = 8 %
Period = 12 years
Required Information:
Equivalent annual cost = ?
Answer:
Equivalent annual cost = $1,924
Explanation:
The equivalent annual cost EAC is often used to compare assets which have unequal useful life spans in order to make more cost effective decisions.
The equivalent annual cost can be found by using the following equation:
Equivalent annual cost = Present value*r / 1 - (1 + r)⁻ⁿ
Equivalent annual cost = 14,500*0.08/1 - (1+0.08)⁻¹²
Equivalent annual cost = $1,924
Answer: A retailer performs the dual functions of buying and assembling of goods. They store the goods in bulk and make them available as per the requirement of the consumer. Warehousing and store keeping helps in ensuring uninterrupted availability of the goods to the consumers.
Explanation:
I am not really sure how to answer that.