Anthony, Inc. buys land for $50,000 cash. The net effect on assets is: a. $50,000 increase. b. $0. c. $50,000 decrease. d. $25,000 increase.
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- 39.ABC sold land that cost $ 10,000 for $ 12,000. ABC will report: Select one: a. Net operating cash flow of $ 2,000. b. Net cash flow from financing of $ 2,000. c. Net cash flow from financing of $ 12,000. d. Net investment cash flow of $ 12,000.Show me the solution thankss...Daya's Dogs has beginning net fixed assets of $520 and ending net fixed assets of $635. Assets valued at $310 were sold during the year. Depreciation was $60. What is the amount of capital spending? A. $10 B. $50 C. $90 D. $485 E. $390. Want Answer
- ??Frank's Dogs has beginning net fixed assets of $480 and ending net fixed assets of $530. Assets valued at $300 were sold during the year. Depreciation was $40. What is the amount of capital spending? A. $10 B. $50 C. $90 D. $260 E. $390Griffin's goat farm, Inc has sales of $666,000 costs of $328,000, depreciation expenses of $72,000 interest expense $46,000 and a tax rate of 24 percent. what is the taxable income? a. $167,200 b. 220,000 c. 266000 d. 52800 e. 292000
- Ga7. The president of Dozier Corporation donated a building to Mandy Corporation. The building had an original cost of $200,000, a book value of $75,000, and a fair market value of $180,000. To record this donation, Mandy would a. make a memorandum entry b. debit Building for $75,000 and credit Gain for $75,000 c. debit Building for $200,000 and credit Gain for $200,000 d. debit Building for $180,000 and credit Gain for $180,000These expenditures were incurred by Blossom Company in purchasing land: cash price $55,000, assumed accrued property taxes $4,500, attorney's fees $2,100, real estate broker's commission $3,000, and clearing and grading $4,000. What is the cost of the land? The cost of the land 73900
- Rock Properties recently purchased a building that generates Gross Rental Income of $190,000 per year and Net Operating Income of $125,000 per year. Rock paid $250 per square foot for the 3,000 square foot building. What was the capitalization rate based on the purchase price? a. 25.3% b. 65.8% c. 16.7% d. 12.5% e. None of the above.1. What is the capitalized cost of each of Belvidere's land, land improvements, and building? SS attached thanksAccounting what is the taxable income