1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
According to the time-driven model of leadership, _____ styles are reserved for decisions where employee commitment is unimporta
stich3 [128]
According to the time-driven model of leadership, autocratic leadership styles are reserved for decisions where employee commitment is unimportant. 

Autocratic is also known as authoritarian leadership where one or a few people are in control of the entire organization and everyone else has little say on how things are done. This works well at times because of the strong power from the leader(s) but it often creates hostility in the workplace. 
7 0
3 years ago
By working in a series of positions with increasing responsibilities, the owner of Stonegate Gardens has built her interest in f
REY [17]
By working in a series of positions with increasing responsibilities, the owner of Stonegate Gardens has built her interest in flowers and plants into a career
3 0
3 years ago
Read 2 more answers
4. Suppose the supply of apples sharply increases because of perfect weather conditions throughout the growing season. Assuming
koban [17]

Answer:

Apples supply increase imply new equilibrium at lower price, higher quantity. Demand downwards expansion on the curve itself is due to lower price.

Explanation:

Market is at equilibrium where Market Demand = Market Supply, & downward sloping  demand curve intersects upward sloping demand curve.

If supply of apples increase & supply curve shifts rightwards, there is Excess Supply at previous equilibrium. Excess Supply creates competition among sellers, reduces new market price.

At lower price, demand expands & supply contratcs. New Equilibrium quantity is higher where new (rightwards shifted) supply curve intersects demand curve.

Quantity demanded increases (expands - downwards movement on demand curve) due to lower price, despite of no change in demand.

7 0
3 years ago
GDP is the market value of: A. Resources (land, labor, capita, and entrepreneurship) in an economy in a given year B. All final
frutty [35]

Answer:

B) All final goods and services produced in an economy in a given year

Explanation:

That's the definition of GDP, gross domestic product. By virtue of the name, it's the total product (output) of a given economy. It's measured through the values of all final goods and services, so as to not count the same good or service twice.

3 0
2 years ago
22. Which one of the following is correct regarding the utilization of a good without an alternative use?
photoshop1234 [79]

Answer:

it's 2 opportunity cost will increase

thank uh

8 0
1 year ago
Other questions:
  • On April 1, Otisco, Inc. paid Garcia Publishing Company $1,548 for 36-month subscriptions to several different magazines. Otisco
    5·1 answer
  • A company reports the following income statement and balance sheet information for the current year: Net income $250,000 Interes
    15·1 answer
  • Lionel's Lawn Care is a company that maintains residential yards. Lionel's cost for his standard package of mowing, edging, and
    9·1 answer
  • 6. On 3/1/19, Kepple Inc. borrowed funds on a 12%, two-year note, to finance the construction of a new warehouse which qualifies
    7·1 answer
  • Structural unemployment Multiple Choice is also known as frictional unemployment. is the main component of cyclical unemployment
    12·1 answer
  • Jebali Company reports gross income of $340,000 and other property-related expenses of $229,000 and uses a depletion rate of 14%
    8·1 answer
  • The average national utility price is $270. 48. Over a 6-month period, what is the average utility price in Dallas? How does thi
    9·1 answer
  • Rosalie is a sales consultant for Avon Cosmetics. This illustrates
    5·1 answer
  • the manufacturing overhead account shows debits of $240,000, $192,000, and $224,000 and one credit for $688,000. based on this i
    14·1 answer
  • Employees who record and are paid for the exact amount or time spent working are paid on
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!