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erica [24]
3 years ago
15

On December 1, 2015, Logan Co. purchased a tract of land as a factory site for $800,000. The old building on the property was ra

zed (torn down), and salvaged materials resulting from demolition were sold. Additional costs incurred and salvage proceeds received during December were as follows:Cost to raze old building $70,000Legal fees for purchase contract and to record ownership 10,000Title guarantee insurance 16,000Proceeds from sale of salvaged materials 8,000What amount should be reported as land?
Business
1 answer:
gladu [14]3 years ago
7 0

Answer:

$888,000

Explanation:

Calculation to determine What amount should be reported as land

Purchased a tract of land as a factory site $800,000

Add Legal fees for purchase contract ownership $10,000

Add Title guarantee insurance 16,000

Add Cost to raze old building $70,000

Less Proceeds from sale of salvaged materials $8,000

Land $888,000

($800,000 + $10,000 + $16,000 + $70,000 –$8,000)

Therefore The amount that should be reported as land will be $888,000

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The use of ___________ is based, in part, on the belief that the term is broader than public relations, and encompasses all comm
Ksivusya [100]

Answer: corporate communications

                             

Explanation: Corporate communications relate to how businesses and organizations interact with specific stakeholders, both internally and externally. These stakeholders include,. customers, media, employees and government etc.

Based on the group being discussed, corporate communications may come in many forms. In conclusion, the communication strategy for a company would generally consist of the printed word, verbal word, and un-spoken interaction.

The communication department of an organisation is responsible for a number of duchies to be performed such as public relations and customer marketing etc.

6 0
3 years ago
Your grandfather wants to establish a scholarship in his father’s name at a local university and has stipulated that you will ad
Paul [167]

Answer:

the answer for the first question is $166667.

the answer for the second question is $210526

the answer for the third question is An inverse.

Explanation:

given information that i will invest in a $10000 scholarship that will pay forever.

the interest rate charged is 6.00% per annum therefore this is a perpetuity present value problem where there is streams of income forever therefore we use the formula :

Pv of perpetuity= Cf/r

where Cr is the cash flows payed by the single investment forever in this case $10000 then r is the interest rate of the investment amount which is 6% in this case.

Pv of Perpetuity= $10000/6%

                           =$166667 therefore i must invest this amount to get the scholarship running with streams of $10000 forever.

in the second problem if now the interest rate is changed from 6% to 4.75% then the amount to be invested would be :

Pv of perpetuity = $10000/4.75%

                              =$210526 therefore this is the amount to be invested for a forever $10000 stream of incomes for a scholarship.

the relationship is indirect cause as the interest rate decreases the present value of the perpetuity that must be invested increases.

3 0
3 years ago
Will feckless unexpectedly inherits $10,000 from a rich uncle. he is observed to consume fewer hamburgers than he used to.
daser333 [38]
<span>This would show that Will does not have a homothetic preference for hamburgers. Such preferences are shown to not be effected by income or scale, and since Will has changed his eating preferences based upon this new source of income, such a description would not fit this good.</span>
3 0
3 years ago
Use the expenditure multiplier to calculate the change in AD that would result from a $100 million increase in government spendi
adelina 88 [10]

Answer:

If MPC is 0.8, Change in GDP    =  $500 million

If MPC is 0.95, Change in GDP =  $2,000 million

Explanation:

<em>Expenditure Multiplier is the amount by which the real GDP will change if autonomous expenditure changes by a given amount.</em>

It is calculated as follows: 1/(1-MPC).

MPC is the portion of additional income that is spent. If the MPC is 0.8, then the expenditure multiplier will be = 1/(1-0.8) = 5

Using the first scenario with an increase in government spending by $100million, the resulting change in GDP would be

Change in GDP =  change in autonomous expenditure × Multiplier

                          = 100 ×  5 = $500 million

<em>Scenario 2, MPC of 0.95</em>

Expenditure Multiplier = 1/(1-0.95) = 20

Change in GDP= 100 × 20 = $2000 million

6 0
2 years ago
After World War II, cigarettes were used as money in Germany. This is an example of:________.
Paladinen [302]

Answer: Commodity Money

Explanation:

Commodity money is used to describe goods that have an intrinsic value that enable them to be used as a medium of exchange for goods and services. For a good to be used as commodity money, it should be rare and easily exchangeable.

Examples of goods that have been and can be used as commodity money include gold, silver, alcohol and cigarettes with cigarettes being especially popular in prison.

7 0
3 years ago
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