Given:
280,000 for the land
110,000 for the old bldg
33,500 to tear down old bldg
47,000 to fill and level the land
1,452,000 new bldg
87,800 for lighting and paving a parking area for the new bldg.
Entries: Debit Credit
Land 470,500
Cash 470,500
(280,000 + 110,000 + 33,500 + 47,000 = 470,500)
Building 1,452,000
Cash 1,452,000
Land Improvement 87,800
Cash 87,800
Expenses incurred in preparing the land for its purpose is classified under the land account. Land does not depreciate because its useful life is unidentified.
Land improvement account is used for expenses incurred to add functionality to the land and these output has useful life and is depreciated.
Answer:
business or person that carries out work for a company as part of a larger project.
Explanation:
A hun
In buying an existing business, the questions that would be appropiate for the prospective buyer to ask are the following:
- E. All of the above are appropriate questions to ask.
I was able to find the <u>complete exercise </u>online and the exercise had five options to choose from. These are the options:
- A. Is the business operating at a profit?
- B. Why are you selling?
- C. Are there any problems with the business?
- D. Will the customers stay with the business?
- E. All of the above are appropriate questions to ask.
The correct option was "E" because all the questions are not only appropiate but necessary to ask.
When buying an existing business, you need to know everything about the business and the reason why the owner is selling because it may make you change your opinion or help you make future decisions.
Check more information in the following link brainly.com/question/1268505?referrer=searchResults
Explanation:
There are several major variables to consider: the financial health of the borrower; the severity of the consequences of a default for the borrower and the creditor; the size of the credit extension; historical trends in default rates; and a variety of macroeconomic considerations
