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MAXImum [283]
3 years ago
7

Durango, Inc. purchased a parcel of land for $450,000. It paid attorney fees of $3,000 to verify title to the land. In addition,

it paid a broker's fee of $7,500 to help find a suitable parcel of land. This parcel of land should be recorded in the accounting records for:_______.
A. $453,000.
B. $450,000.
C. $457,500.
D. $460,500.
Business
2 answers:
Crank3 years ago
8 0

Answer:

D. $460,500

Explanation:

Given that

Cost of parcel of land = 450000

Legal fees = 3000

Broker's fees = 7500

Therefore,

Amount recorded as cost of parcel of land is

Cost of parcel of land + legal fees + brokers fee

= 450000 + 3000 + 7500

= $460,500

When purchasing land, fees like commissions, legal fees, bank fees, title fees and other expenses added before the land can be used are considered as part of the land's cost. Hence the answer.

anastassius [24]3 years ago
8 0

Answer:

D. $460,500

Explanation:

From the question, we have the following values

Purchased of parcel of land = $450,000

Attorneys fees = $3,000

Broker's fees = $7,500

To evaluate this, we need to add every money being spent to purchased the parcel of land

Which we have as

Purchased of parcel of land + attorneys fees + brokers fee which which we have as

= 450000 + 3000 + 7500

= $460,500

Because for one to buy a land, fees been spent on the process of buying the land will be added which will give the total cost of the land.

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Dafna1 [17]

Answer:

b) the method to reduce costs of producing automobile glass, but not the formula for the substance that prevents smudging.

Explanation:

As provided, the professor develops a way which shall reduce the cost of producing the automobile glass, which apparently is very easy for anyone to copy and use.

Whereas, when a company develops the formula which creates a substance that prevents the automobile glass from getting smudged is again a technological knowledge although not that common.

Since the first one is apparently easy and other is patented which means both are common else not so common idea will not need patent as people would not be able to create such formula.

8 0
3 years ago
Given the annual rate of economic growth, the "rule of 70" allows one toA) determine the accompanying rate of inflation.B) calcu
erik [133]

Answer:

B) calculate the number of years required for real GDP to double

Explanation:

The rule of 70 calculates the amount of time it takes for an investment to double.

Given the annual rate of economic growth, the rule of 70 calculates the number of years required for real GDP to double.

It is calculated as 70 / annual rate of economic growth.

I hope my answer helps you.

7 0
3 years ago
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mash [69]

Answer:

Letter B is correct. Brand association.

Explanation:

Brand association is a relevant marketing tool for adding value to a brand.

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3 years ago
Bilbo signs a lease agreement for an apartment with Cato, who owns and manages the Deer Creek Apartments complex. These parties
worty [1.4K]

Answer:

C

Explanation:

an implied contract

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ahrayia [7]

Answer:

b

Explanation:

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7 0
3 years ago
Read 2 more answers
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