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Nostrana [21]
2 years ago
13

Burke Company purchases land for $100,000 cash. Burke assumes $2,500 in delinquent property taxes due on the land as part of the

purchase. The title and attorney fees totaled $1,000. Burke has the land graded for $2,200. They paid $10,000 for paving of a parking lot. What amount does Burke record as the cost for the land
Business
1 answer:
Natali [406]2 years ago
8 0

Answer: $105700

Explanation:

The amount that'll be paid as the cost of the land will be calculated as:

Land purchase = $100,000

Add: Property tax = $2500

Add: Fees = $1000

Add: Grading = $2200

Total = $105700

Therefore, the amount that'll be paid as the cost of the land will be $105700

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under a fractional reserve banking system the amount of money loaned out can only increase if what happens
Bogdan [553]

Answer:

<em>The Required Reserve Ratio Is Lowered</em>

hope it helps:)

3 0
3 years ago
Astro Mile ​&amp; Co. owns vast amounts of corporate bonds. Suppose Astro Mile buys $ 1,400,000 of BitterCo bonds at face value
Inessa [10]

Answer:

Dr bond investment             $1,400,000

Cr cash                                                        $1,400,000

Cash interest is  $112,000.00

Interest revenue for the year is also $ 112,000.00  

Explanation:

The cash paid for the investment is $1,400,000, this would be debited to bond investment and credited to cash since it is an outflow of cash from the business.

At six-month interval, coupon receivable=$1,400,000*8%*1/2=$ 56,000.00  

annual coupon receivable=$ 56,000.00 *2=$ 112,000.00  

7 0
2 years ago
Value of a retirement annuity Personal Finance Problem An insurance agent is trying to sell you an​ annuity, that will provide y
soldier1979 [14.2K]

Answer:

The maximum to be paid= $84,260.023

Explanation:

<em>The maximum amount to be paid is the present value of the series of annual cash inflow discounted at the opportunity cost rate of 4% per annum.</em>

<em>This is given in the relationship below:</em>

PV = A ×( 1- (1+r)^(-n))/r )

A- annual amount receivable- 6,200. r-rate of return - 4%, n-number of years- 20

PV = 6,200 × ( 1 - (1+0.04)^(-20)/0.04)

= 6,200 × 13.5903

= $84,260.023

The maximum to be paid= $84,260.023

4 0
3 years ago
Which of the following is typically the case for companies that operate in product markets where there is relatively little comp
Igoryamba

Answer:

Which of the following is typically the case for companies that operate in product markets where there is relatively little competition from other companies?

C) higher wages and higher profits

Explanation:

A situation where different organizations are striving to sell the same product is known as competitive markets. When the number of companies selling the same product is small, then we can say that the market has little competition from other companies. A market that has little to no competition has the following qualities;

1. Reduced efficiency

In a market where companies operating in a market have little competition, the efficiency in terms of processing time, and overall quality of finished products is very low since the demand for products is guaranteed whether the product is of high quality or not. The customers have no other choice but to buy from them.

2. Higher profits

In markets that there is little competition, the companies are always few. This means that the market share per company is relatively bigger than other markets. Bigger market shares translates to increases sales, thus higher profit margins.

3. Higher wages

Companies that have higher profits as a result of bigger market shares tend to pay their employees higher wages since the available disposable income is high.

6 0
2 years ago
Tradcuisie Souvenirs is a company that manufactures souvenirs that represent the traditional arts of the country Yeingir. For th
mote1985 [20]

Answer: (B) Sociocultural component

Explanation:

 The Sociocultural component is the term which is used embracing the three main concepts and also by using these three main concept the members the society are get influenced that are as follows:

  • Culture
  • System
  • Society

According to the given scenario, the Tradcuisie Souvenirs is one the manufacturing company which represent the various types of traditional type arts and due to the short availability of the artisan the business start declining.

Therefore, the given scenario best illustrating the Sociocultural effect in an organization.  

7 0
3 years ago
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