User Account

All Pages

What was the value of land purchased for cash

Assignment Help Accounting Basics
Reference no: EM132478890

Consecutive balance sheets of Crow Ltd showed the following balances:

                                                     30 June 2019                30 June 2018

Land                                         $850 000                   $500 000

Asset revaluation surplus                $150 000                        -

Question 1: During the year ended 30 June 2019, land was revalued upwards by $150 000 and $120 000 was borrowed to acquire land. What was the value of land purchased for cash?

Select one:

a. $350 000

b. $200 000

c. $270 000

d. $80 000

e. $355 000

Reference no: EM132478890

Questions Cloud

How much should be recorded on December : Bowie Company uses a calendar year and the straight line depreciation method. How much should be recorded on December 31 for the Gain or (Loss)
Determining the average total costs rising or falling : If marginal cost is less than average total cost, are average total costs rising or falling? Alternatively, if marginal cost is more than average total cost
What is the profit maximizing level of output : What is the profit maximizing (or loss minimizing) level of output in the short run? What is the profit maximizing level of output in the long run?
Calculate the acquisition-date fair value of Amsterdam : Using the acquisition method, calculate the acquisition-date fair value of Amsterdam to be included in Morey's June 30 consolidated financial statements
What was the value of land purchased for cash : During the year ended 30 June 2019, land was revalued upwards by $150 000 and $120 000 was borrowed to acquire land. What was the value of land purchased
Market price per ream of paper : By how much does the optimal price per ream of paper differ from the market price per ream of paper?
Determine sales-related transactions : The sale, including the cost of the merchandise sold. Enter account decreases, cash outflows, and the cost of merchandise sold as negative amounts
What is the marginal product of labor : What is the marginal product of labor? Please provide the autheentic solution of this problem.
Complement or compete with other sustainable labels : Does Local Labeling Complement or Compete with Other Sustainable Labels? A Conjoint Analysis of Direct and Joint Values for Fresh Produce Claim

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd