According to the cost principle, land that was originally acquired for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000, the land should be recorded in the purchaser's books at?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “According to the cost principle, land that was originally acquired for $85,000 is offered for sale at $150,000, is assessed for tax ...” in 📘 Mathematics 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
A stockbroker earns a commission by a flat fee for each transaction as well as a fee per share. On a particular transaction, the stockbroker sold 5,000 shares to a client at a rate of $0.01 per share. The cost of the transaction totaled $57.50.
Answers (1)
Will 5 1/5 x 2/5 be larger or smaller than 5 1/5
Answers (2)
What is the final amount if 1930 is increased by 5% followed by a further 15% increase? Give your answer rounded to 2 DP.
Answers (1)
What is the product of (-3/4) (-4/7) (-2/3)
Answers (1)
If 1 ounce=28.35 grams, how many grams are in one pound?
Answers (2)
New Questions in Mathematics
1. What is the square root of 3 as a decimal? 2. What is the square root of 2 as a decimal?
Answers (2)
The football fields at three different schools were measured, and it was found that their perimeters were 320 m, 360 m, and 400 m.
Answers (1)
Where is 7/2 on the number line
Answers (1)
How many extraneous solutions does the equation below have? (2m) / (2m+3) - (2m) / (2m-3) = 1 0 1 2 3
Answers (1)
If you drive 60 miles at 90 miles per hour, how many minutes will the trio take you?
Answers (1)