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Elena-2011 [213]
3 years ago
7

Aber Inc. plans to develop a shopping center. In the first quarter, they spent the following amounts: Acquisition of land $15000

Surveys and legal fees 600 Land clearing 200 Fencing 1000 Install lighting and signage 860 What amount should be recorded as the cost of land in the books of the corporation
Business
1 answer:
chubhunter [2.5K]3 years ago
5 0

Answer: $15,800

Explanation:

When it comes to fixed assets like land, all costs that were necessary to acquire the land and to get it ready for use are capitalized - included in the cost of the fixed assets.

Cost of land = Acquisition cost + Surveys and legal fees + Land clearing to get it ready for use

= 15,000 + 600 + 200

= $15,800

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Vlad1618 [11]

Answer:

The maximum that should be paid for the stock today is $30.23.

Explanation:

The total return on a stock is made up of dividend received on the stock plus the capital gain received from selling the stock. The holding period is one year that means a 10% return on the amount invested in required for one year. We need to calculate the present value of the total of selling price plus the dividend to calculate the price of the stock today. As 10% return is required, the discount rate is also 10%.

PV = (1.25 + 32) / 1.1

PV = 30.227 rounded off to 30.23

5 0
3 years ago
Jim and Sally are not married. They lived together all year. Sally had $5,000 in earned income during 2019. Jim earned $30,000 i
kap26 [50]

Answer:

Jim could file as a head of household and qualify for higher deductions and earned income credit for one child.

Sally should file her taxes as a single filer since she has very low income so she falls under the first tax bracket, she can also file for earned income credit for one child.

3 0
3 years ago
During the course of your examination of the financial statements of the Hales Corporation for the year ended December 31, 2021,
Nana76 [90]

Answer:

$35,260

Explanation:

Calculation to Determine the proper amount of net income for 2021

Unadjusted net income $33,000

Adjustments:

a. Insurance expense overstated $2,800

[4,200-(4,200/3)]

b. Sales revenue overstated $(675)

c. Supplies expense overstated $645

d. Interest expense understated $(510)

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Adjusted net income $35,260

Therefore the proper amount of net income for 2021 will be $35,260

3 0
3 years ago
A simple purchase on the Internet will not require which function?
Alecsey [184]
A. Multiple password changes and verifications

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6 0
3 years ago
Discuss whether or not demand for laser eye surgery will become more inelastic over time
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Answer:

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Explanation:

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