I think it’s b but I can’t garauntee I’m sorry
C. 'Net' anything is total gain or loss.
Answer:
Competence
Explanation:
One of the best ways to learn new ideas and work is to self-learn them. It helps to engage and learn new things, Eric wants to become a commercial lender that is why he tries to seek out feedback from his manager and he manages his own workload. Eric is trying to build his own competence to work effectively and effectively.
Answer:
C) $868,000
Explanation:
The costs associated to the purchase of the tract of land were:
- Purchase price of land = $780,000
- Demolition of old building = $70,000
- Legal fees = $10,000
- Title guarantee insurance = $16,000
- Proceeds from sale of salvaged material = $8,000
The total cost of the land = purchase price + demolition costs + legal fees + title guarantee insurance - proceeds from salvaged materials = $780,000 + $70,000 + $10,000 + $16,000 - $8,000 = $868,000
The demolition costs are capitalized to land because they are a necessary cost to bring the land into its intended condition. Legal fees and title guarantee are necessary to avoid legal problems.
Answer:
$1,000 gain
Explanation:
The cost basis for the vehicles was $6,000 and the carrying cost was $4,000 = $2,000 depreciation
If they sold the vehicles for $5,000, then they had a $1,000 gain (= $5,000 - $4,000). The journal entries should be as following:
Dr Cash account 5,000
Dr Accumulated Depreciation account 2,000
Cr Motor Vehicles account 6,000
Cr Gain on Motor Vehicles 1,000