Your first step is to create a saving plans and to set your smart goals
Answer: Have a sellable plan, be innovative & consistent
Explanation:
There are some things to consider that would guide you on a successful part in any venture you going into.
1) Have a plan, a sellable one; people would only buy what they need, so going into business, are you selling what they need or what you feel like doing?
2) Be innovative; innovation is one item that keeps you in market above others for a long time, if you can't be innovative, you'll leave the market earlier than you would ever imagined.
3) Be consistent; doing business is really hard, especially when you intend succeeding. You have to be consistent both in good and bad days, the result of these speaks over time.
Yes and no, if you are of United States yes, if not No
Answer:
$118,000
Explanation:
We know the purchase price of land = $100,000
Also any kind of brokerage or commission is added to such cost as it is part of acquisition and one time expense, thus capital in nature.
Thus, $8,000 paid as brokerage will be added.
Also the one time expense in the capital nature being the demolishing expense will be added to cost.
Thus, net cost of land = $100,000 + $8,000 + $10,000 = $118,000
Some of the salvage sold results in an income for the company, and that shall form part of income statement, and has nothing to do with cost of land.
Thus, net historical cost = $118,000
