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MAXImum [283]
2 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:
Crank2 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]2 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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Answer:

b

Explanation:

describe the elements of a strategic marketing plan

8 0
2 years ago
The study of economics:
DochEvi [55]
Helpful to businesses, but not particularly helpful in making personal buying decisions.
6 0
3 years ago
This jacket is so thin. It can't possibly keep out the rain."(Use the boomerang method.)
Ivan

Answer:

The jacket is thin because it uses a fiber called thinsulate that enables it to have the lightest weight but is also the warmest.

Explanation:

In general marketing, the boomerang method refers to the 'reconstruction' of the customer's objection into the main reason for buying. In other words, using the same excuse that a customer has about a product to entice him/her to buy that product by reframing it as a selling point is known as the boomerang method.

In the given scenario, the customer's objection is about the thinness of the jacket can be used as a selling point by the salesman by stating that the lightness of the jacket is what makes it a good product. So, if the seller tells the customer <em>"the jacket is thin because it uses a fiber called Thinsulate that makes it thin but also warm"</em>, then that will make it an interesting and important factor for the customer to like the product more.

6 0
2 years ago
A decrease in consumer spending can be expected to shift the aggregate demand curve ________.
xxMikexx [17]

Answer:

d. downward and cause output to decrease

Explanation:

As we know that

Aggregate demand = Consumption expenditure + government expenditure + net export

Where,

Net export = Export - import

In the case when there is a reduction in the consumer spending so it would be expected that the aggregate demand curve would be shifted to the downward due to which it results in reduction in output

Therefore the option d is correct

6 0
3 years ago
During the year, Wright Company sells 415 remote-control airplanes for $100 each. The company has the following inventory purcha
mihalych1998 [28]

Answer:

See explanation section.

Explanation:

We know, first in first out (FIFO) inventory system shows that items were sold those were purchase earlier.

Cost of good sold under FIFO method,

Jan. 1 Beginning inventory                       50 units × $75 = $3,750

May. 5 Purchase                                       215 units × $78 = $16,770

<u>Nov. 3 Purchase                                        150 units × $83 = $12,450</u>

Cost of good sold                                      415 units            = $32,970

Ending inventory = Total inventory - cost of good sold

Ending inventory = 430 units - 415 units = 15 units

Cost of inventory = Total cost - Cost of good sold

Cost of inventory = $34,215 - $32,970 = $1,245

7 0
3 years ago
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