Answer:
$47840 should be recorded as the cost of the land.
Explanation:
The cost of the land will be=(Price paid for the land+Cost of old building removed+Closing costs)
=($33,100.+$3,330+$11,410)
=$47840
$47840 should be recorded as the cost of the land.
Russia developed trade relationships with other European countries and exported large amounts of grain.
<span>A firm is located along a
river, which uses water from the river to cool its machinery and returns the
water to the river several degrees warmer, which has led to a decline in the
fish population downstream of the firm. If the firm does not have to pay for
the damage to the downstream fish, the market equilibrium price will be efficient
and the market equilibrium quantity will be efficient.</span>
Answer:
True
Explanation:
The charter is the authorization for a bank to start its operation. This document is received by each state in which the bank operates.
Answer:
FIFO basis.
Explanation:
If a customer does not give a broker his or her instructions, cost basis reporting on Form 1099-B for a stock holding where there have been multiple purchases at different times is done on a first in, first out (FIFO) basis.
According to the internal revenue service (IRS), a Form 1099-B is a tax form which is received by individuals from their brokers or barter exchange enumerating their proceeds (gains) and losses from transactions made for a given tax year. The transactions include sales of stocks, forward contracts, derivatives, bonds, commodities, options, debt instruments for cash through a broker or barter exchange. It is necessary to also state on the Form 1099-B whether the holding period is short-term or long-term.
If the customer didn't give a broker his or her instructions and there have been multiple purchases of the stock at different times, it is reported or done on a first in, first out (FIFO) basis because the earliest or oldest unit of stock purchased are also the first unit that are sold.