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A company paid $150,000, plus a 7% commission and $5,000 in closing costs for a property. The property included land appraised at $87,500, land improvements appraised at $35,000, and a building appraised at $52,500. What should be the allocation of this property's costs in the company's accounting records?

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A company paid $150,000, plus a 7% commission and $5,000 in closing costs for a property. The property included land appraised at $87,500, land improvements appraised at $35,000, and a building appraised at $52,500. What should be the allocation of this property’s costs in the company’s accounting records?

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A common set of accounting standards and procedures are called

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Hey there!

I think you meant to type “value of what you own minus what you owe”. Let me know if this assumption isn’t correct, though I don’t know what the value of what you owe is besides… ya know, what you owe. 

The value of what you own is called you assets. This can include anything of value that you own, particularly your pricier possessions. Think of a vintage family heirloom or a highly–priced article of clothing. Assets, though, includes the value everything that you own that you could possibly put a price tag on if you were certain someone would buy it. 

What you owe is called your liability. This is basically any debt that you owe anyone, whether it be your buddy who footed your lunch bill the other day when you didn’t have enough cash or a student loan you used to pay for college. 

Your assets minus your liability is called your net worth. This is basically what you are worth in total. This makes sense, since any debt you owe will be taken out of the amount that you are worth or any money that you have.

Net worth will be your answer. 

Hope this helped you out! 🙂

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Sidney works in the accounting department. His boss just assigned him a task that involves creating budget formulas for the company’s payroll expense reports. Sidney will be using Excel spreadsheets to calculate the company’s payroll expense reports. In Excel, what does Sidney need to consider when creating formulas? A. Excel has predefined formulas, so you don’t have to create any formulas from scratch. B. Excel performs operations based on the order of precedence. C. Excel has third-party formulas you can purchase from Microsoft. D. Excel has limited capabilities, so it would be easier to use payroll software for this application.

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The option that you’re looking for is the Insert Tab.

Slide elements generally refer to the objects that you can put inside a slide in most presentation programs. This includes elements such as shapes, texts, pictures, videos, and even audio files. The Insert Tab can generally be accessed on the toolbar pinned to the top of your presentation program.

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A firm’s total revenue from sales of output minus the firm’s explicit costs. In other words, it is the total money made from sales of cupcakes minus the cost to make the cupcakes. Accounting profit is in most cases the same as the common understanding of profit

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3. The Spanish American wars of independence were the numerous wars against Spanish rule in Spanish America that took place during the early 19th century, after the French invasion of Spain during Europe’s Napoleonic Wars. Although various regions of Spanish America objected to crown policies that restricted trade and privileged Spanish-born officials over American-born, “there was little interest in outright independence; indeed there was widespread support for the Spanish Central Junta formed to lead the resistance against the French.”[6]
4. Eva (Evita) Perón’s legacy has inspired books, musicals, & films; she escaped rural Argentina, where there were few opportunities, & gained prominence as a radio & movie star; Eva’s popularity among masses assisted her husband (Juan Perón) in his rise to power; using her radio show to tell people about her husband’s policies, she helped him win the support of the working class (whom she affectionately called the descamisados (shirtless ones)); although she didn’t hold a political office, she received the honorary title “Spiritual Leader of the Nation”; promising redistribution of wealth, labor reform, & national glory for Argentina, the Peróns threatened security of the wealthy who held power & gave hope to the poor; even in death, Eva Perón remained a controversial figure
Juan Perón had her body embalmed & had planned a large memorial to immortalize her, but his government was overthrown & he was sent into exile in 1955; at that time, the new government hid her body in an attempt to get rid of any evidence of the Perón years; her enemies buried her in a secret grave in Italy, where her body remained until the 1970s; her; her body was eventually returned to Argentina & laid to rest in a family cemetery in Buenos Aires
Her legacy has been subject to different interpretations over time; her supporters view her as a powerful female leader who championed of the poor & middle classes; those who opposed her said she manipulated the masses for her own ambitions; historians continue to sift through diary entries, political documents, & letters to unravel more about the mysteries of Eva Perón
Controversy surrounding Perón rule’s reflective of political & social divisions within Latin America
Most nations in South America had gained their independence from Spain by the middle of the 19th century; throughout the remaining decades of that century & into the 20th, many South American nations struggled with political instability; governments rose & fell quickly & military coups d’etat were common; Juan Perón of Argentina is just one example of these political struggles
5.

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