Answer:
$24,000
Explanation:
The computation of the adjusted basis in the land after the exchange is shown below:
= Adjusted basis at the time of exchange + additional amount given
= $20,000 + $4,000
= $24,000
We simply added the Adjusted basis at the time of exchange and the additional amount so that the accurate value can come.
And the other information which is given in the question is not relevant. Hence, ignored it
Answer:
Shareholder
Explanation:
A person or business that’s is a partial owner of a company
The answer is: 1. the merchandise was ordered by the company
The auditor could easily obtain this information by looking at the company's purchase order. Purchase order would contain information regarding sellers, types of products, dates, prices, and quantities of the products ordered. This information is what the auditor need to fully verify the inventory acquisition.
Answer:
Ending inventory value= $9,127
Explanation:
Giving the following information:
January: 17 units at $127
February: 27 units at $137
May: 22 units at $147
September: 19 units at $157
November: 17 units at $167
<u>Using the specific identification method, we need to multiply each unit for its specific cost.</u>
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Ending inventory:
January= 9*127= 1,143
February= 11*137= 1,507
May= 13*147= 1,911
September= 11*157= 1,727
November= 17*167= 2,839
Ending inventory value= $9,127
Relationship selling, or the concept of Relations Marketing.
