Answer:
c. $ 95,000 $ 0
Explanation:
<u>Calculation of cost of land acquired</u>
For the purpose of recording of land acquired in the books of accounts, the accounting values of consideration paid shall be considered as per the generally accepted accounting principles as well as as per International accounting standard (IAS) - 16 'Property, plant and equipment'. Hence the land shall be recorded as per the following amounts:
Consideration paid in cash (A) = $ 5,000
Consideration in kind (land) (B) = $ 90,000 (Refer Note 1)
Total cost of new land (A+B) = $ 95,000
<em>Note 1</em>
Fair value is irrelevant for the purpose of capitalization of asset (IAS-16)
<u>Calculation of Gain/loss on disposal of land</u>
No gain/loss needs to be recorded as the new asset shall be recorded in terms of the book value of old asset (i.e. net impact is already taken into account during the exchange transaction)
The decision to build the park or not would be based solely
on the cost – benefit relationship of this project. Since there is no other
factor considered in this problem, you only need to see if the benefit of
constructing the park would exceed its cost. In this problem, the cost to
construct the park is $20,000 while the marginal benefit would be $24,000
($8,000 x 3 families that can benefit from this project). Therefore, you can
say that the benefit has exceeded its cost. As a conclusion, the neighborhood
park should be built because it benefits the families living in that area more
than its cost.
Mary parker co. invested $15,000 in abc corporation and received common stock in exchange. mary parker co.'s journal entry to record this transaction would include a: Debit to investments.
What is a Journal Entry?
A journal entry is employed to record a business transaction in the accounting records of a business. A journal entry is typically recorded in the general ledger; alternatively, it's going to be recorded in a subsidiary ledger that is then summarized and rolled forward into the general ledger.
What is importance of journal?
Writing, like anything, improves with practice. once you journal every day, you're practicing the art of writing. And if you employ a journal to express your thoughts and ideas, it'll help improve your overall communication skills.
Learn more about journal entry:
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Answer:
B. participatory approach budgets should be prepared using a top-down approach
Explanation:
Option A is incorrect because it is one of the significant guidelines for budgeting.
Option C is a budgeting guideline which helps to differentiate the actual and budgeted amounts.
Option D is an important element to attain the objectives through budgeting. Therefore, it is incorrect.
Option B is the answer as there is no option to prepare the budget using a top-down approach.
Answer:
I think for this would most likely have to be C
Explanation:
I'd have to say that since if you were to keep calling people out for it it sorta defeats the purpose? something like that-
