The cost of the land & building is split among the assets purchased in proportion to the market value of the assets as a whole in the case of a basket purchase
<h3>What is a
basket purchase?</h3>
It is called a lump sum acquisition because its involves the purchase of many assets as a group.
In this purchase, when an investor purchases an assets, it means the the investor is able to buy many assets as one group in a single transaction,
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Answer:
The quantity supplied by producers increases as prices rise and decreases as prices fall.
Explanation:
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Answer: One currency is changed from another
Explanation:
there are more than one kind of dog breed
Answer:
Decrease cash; increase supplies.
Explanation:
The accounting equation is shown below:
Total assets = Total liabilities + Shareholder's equity
In the given transaction, the office supplies were purchased for $100 and it is paid immediately which means the balance of supplies is increased and the cash balance is decreased.
It gives a positive impact on the office supplies account and a negative impact on the cash balance under the current assets.