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Fudgin [204]
2 years ago
12

Vijay Inc. purchased a three-acre tract of land for a building site for $350,000. On the land was a building with an appraised v

alue of $118,000. The company demolished the old building at a cost of $11,700, but was able to sell scrap from the building for $1,610. The cost of title insurance was $810 and attorney fees for reviewing the contract were $540. Property taxes paid were $3,000, of which $350 covered the period subsequent to the purchase date. The capitalized cost of the land is:________.
a) $365,700.
b) $364,090.
c) $366,050.
d) $233,160.
Business
1 answer:
alexandr402 [8]2 years ago
3 0

Answer: b) $364,090

Explanation:

The Capitalized cost of the land would be the costs incurred to acquire the land and to set it up.

Capitalized cost = Purchase price + demolition of old building + title insurance + attorney fees + property taxes(for period since purchase) - scrap value

= 350,000 + 11,700 + 810 + 540 + (3,000 - 350) - 1,610

= $364,090

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2) Green Frog is an environmentally friendly firm in the cosmetics industry. If during the strategic planning process Green Frog
inna [77]

<u>Answer: </u>it would be performing a(n) * external analysis.

<u>Explanation:</u>

External analysis is the analysis performed by the organisations to understand their business environment in which they carry out the business activities. This analysis helps to identify the threats and opportunities that the business have in the market.

The threats can be competition, new entrants, factors affecting their demand, any government regulation for cosmetics etc. Opportunities can be to expand business, invest in new business etc. By understanding the external environment the business will be able to be well prepared to face them.

3 0
3 years ago
____ "scrambles" or encodes data so that even if unauthorized users somehow gain access to your files, they will not be able to
Ipatiy [6.2K]
The answer is "Data Encryption <span>"scrambles" or encodes data so that.........".
</span>
Data encryption makes an interpretation of information into another shape, or code, so just individuals with access to a secret key (this key is known as decryption key) or password can read it. Scrambled information is regularly alluded to as ciphertext, while decoded information is called plaintext.
3 0
3 years ago
Rafi offers a tour of Bay Harbor aboard his sailboat, Sea Siren, to Tiara’s Travel Group for $500. Referring to the prices for s
Anna11 [10]

Answer:

Will be terminated

Explanation:

Given:

Rafi's offers for the tour of Bay Harbor = $500

Tiara’s willing to pay = $400

Argue:

Tiara’s Travel Group is not willing to pay the price that Rafi wants to get, Tiara’s Travel Group wants to bow down the price below that value, so Tiara’s Travel Group will reject Rafi's offer.

7 0
3 years ago
On April 1, a company paid the $1,350 premium on a three-year insurance policy with benefits beginning on that date. What amount
xz_007 [3.2K]

Answer: The answer is 337,5

Explanation:  

First step: The insurance policy was paid for 3 years, we have to know how many months there are in 3 years. We calculate (3 years x 12 months = 36 Months). Then the insurance policy was paid for 36 months.

Second step: The amount paid was $ 1350. We have to know how much corresponds to each month. We calculate (1350/36 months = 37.5 each month)

Third step: We must count the months from April 1 to December 31. It's 9 months.

Fourth step: Multiply the amount of each month by the number of months between April and December (9). We calculate (37.5 x 9 = 337.5)

I hope you find it useful.

5 0
3 years ago
ABC has the following balances on December 31 prior to closing entries: Revenues $25,000 Retained Earnings, Jan. 1 20,000 Cash 3
bazaltina [42]

Answer:

The net adjustments to be made to retained earnings due to the closing entries would be net income of $15,000 ($25,000 - $10,000) and dividends of $2,000.

Explanation:

Retained earnings is the accumulated amount of net income left after payment of dividends to shareholders. The adjustments usually made to retained earnings relate to net income and dividends (cash or stock). While the former is usually added to retained earnings, the latter is usually deducted.

In the question, the only relevant adjustments are net income of $15,000 ($25,000 - $10,000) and dividends of $2,000; every other account relates to other balance sheet components (either assets or liabilities). Therefore, the adjusted retained earnings balance at the end of the year would be: $20,000 + $15,000 - $2,000 = $33,000 (adjusted retained earnings).

8 0
3 years ago
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