Business

Scarlett Clark

22 April, 13:40

If a company is considering the purchase of a parcel of land that was acquired by the seller for $99,000 is offered for sale at $178,000, is assessed for tax purposes at $109,000, is recognized by the purchaser as easily being worth $168,000, and is purchased for $165,000, the land should be recorded in the purchaser's books at:

+3

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question ✅ “If a company is considering the purchase of a parcel of land that was acquired by the seller for $99,000 is offered for sale at $178,000, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.

Search for Other Answers

You Might be Interested in

Suppose researchers at the University of Wisconsin discover a new vitamin that increases the milk production of dairy cows. If the demand for milk is relatively inelastic, the discovery will a. raise both price and total revenues. b.

Ayayai Corporation has outstanding 400,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $63 per share.

McGuire company acquired 90 percent of Hogan Company on January 1, 2010, for $234,000 cash. This amount is reflective of Hogan's total fair value. Hogan's stockholders' equity consisted of common stock of $160,000 and retained earnings of $80,000.

Vaughn Manufacturing received a check for $24480 on July 1 which represents a 6 month advance payment of rent on a building it rents to a client. Unearned Rent Revenue was credited for the full $24480.

Firms and municipal entities can raise money by issuing official "ious" which they have to repay at face value on the maturity date. one advantage of this type of financing is that the interest paid to the holder is tax deductible.

New Questions in Business

ABC Company insured its building on a replacement cost basis for $700,000 under a property insurance policy that included an 80 percent coinsurance clause. The building had a replacement cost of $1 million when it sustained a $40,000 loss.

Which of the following are true? Select one or more: (a) The t-distribution is dependent on the sample size. (b) The t-distribution does not depend on the sample size.

Santoyo Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Hours Wait time 13.6 Process time 2.7 Inspection time 0.3 Move time 3.3 Queue time 7.0 The delivery cycle time was:

During 2021, its first year of operations, Pave Construction provides services on account of $160,000. By the end of 2021, cash collections on these accounts total $110,000. Pave estimates that 25% of the uncollected accounts will be uncollectible.

How often is interest earned from bonds usually paid to the bond holder? 1) Every month 2) Once per year 3) Twice per year 4) Every two years