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Katena32 [7]
3 years ago
7

A company purchased land for $82,000 cash. Commissions of $8,000, property taxes of $8,500, and title insurance of $2,200 were a

lso incurred. The $8,500 in property taxes includes $5,400 in back taxes paid by the company on behalf of the seller and $3,100 due for the current year after the purchase date. For what amount should the company record the land
Business
1 answer:
AleksAgata [21]3 years ago
7 0

Answer:

the amount that company should record the land is $97,600

Explanation:

The computation of the amount that company should record the land is shown below:

The Amount should be recorded for land is

= Purchase price + Commission + Property tax paid on behalf of seller + Title insurance

= $82,000 + $8,000 + $5,400 + $2,200

= $97,600

hence, the amount that company should record the land is $97,600

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Suppose the Federal Reserve wants to increase the money supply by $200. Again, you can assume that banks do not hold excess rese
LuckyWell [14K]

Answer:

The fed needs to purchase bonds worth $20 from the banks to increase money supply by $200.

Explanation:

The Federal Reserve wants to increase the money supply by $200.

The reserve requirement is 10%.

The fed can increase the money supply by purchasing bonds from commercial banks.  

The money supply will increase by money multiplier times worth of bonds.  

Increase in money supply = \frac{1}{RR}\ \times\ Worth\ of\ bonds\ purchased

$200 = \frac{1}{0.1}\ \times\ Worth\ of\ bonds

Worth of bonds = \frac{200}{10}

Worth of bonds = $20  

So the fed needs to purchase bonds worth $20 from the banks to increase money supply by $200.

7 0
3 years ago
Assuming a FICA tax rate of 8% on the first $100,000 in wages, and a federal income tax rate of 20% on all wages, what would be
blondinia [14]

Answer:

the answer is c

Explanation:

3 0
3 years ago
What is job description​
Tanzania [10]

A job description or JD is a written narrative that describes the general tasks, or other related duties, and responsibilities of a position. It may specify the functionary to whom the position reports, specifications such as the qualifications or skills needed by the person in the job, information about the equipment, tools and work aids used, working conditions, physical demands, and a salary range. Job descriptions are usually narrative,[1] but some may comprise a simple list of competencies; for instance, strategic human resource planning methodologies may be used to develop a competency architecture for an organization, from which job descriptions are built as a shortlist of competencies.[2][not specific enough to verify]

According to Torrington, a job description is usually developed by conducting a job analysis, which includes examining the tasks and sequences of tasks necessary to perform the job. The analysis considers the areas of knowledge, skills and abilities needed to perform the job. Job analysis generally involves the following steps: collecting and recording job information; checking the job information for accuracy; writing job descriptions based on the information; using the information to determine what skills, abilities, and knowledge are required to perform the job; updating the information from time to time. [3] A job usually includes several roles. According to Hall, the job description might be broadened to form a person specification or may be known as "terms of reference". The person/job specification can be presented as a stand-alone document, but in practice it is usually included within the job description. A job description is often used by employers in the recruitment process.

4 0
3 years ago
Ajith running an internet cafe. Identify the economic activity mentioned here
sergejj [24]

Answer:

Ajith is essentially providing a service.

Explanation:

A service is an economic transaction in which the buyer obtains a benefit from the seller, but his benefit is not a good, like a product, or a machine.

Ajith provides a service to his customers: the use of a computer to connect to the internet for a specific period of time. The period of time is determined by the amount the customer pays: the higher the amount, the more time the customer is allowed to connect.

As can be seen, the customers do not obtain any product from the transaction, they simply get the right to connect to the internet, for that reason, it is a service what they are being provided with.

7 0
4 years ago
Gomez Corporation is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment
grin007 [14]

Answer:

6 years

Explanation:

The payback period calculates how long it takes for the amount invested in a project to be recovered from the cumulative cash flow.

Payback period = amount invested/ cash flow

 $468,000 /  $78,000 = 6 years

I hope my answer helps you

7 0
4 years ago
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