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1. The proportion of the total value for land = $614,400 / ($614,400 + $345,600) = 64% 2. Land recorded at 64% of $920,000 = $588,800 Answer: Increase land by $588,800
1. Cash increases - Investing section 2. Cash increases - Operating section 3. Cash decreases - Financing section 4. Cash increases - Financing section ... See More
a. gain of $2,000. b. gain of $700. c. loss of $700. d. loss of $1,300.
a. Nothing b. $100,000 Set-aside Cash c. $100,000 Liability d. $100,000 Contingent Liability
a.consistency. b.liquidity. c.profitability. d.solvency. e.none of the options listed
a.net loss of $35,000 b.net income of $35,000 c.net income of $14,000 d.net loss of $14,000
• Assets + liabilities = owner's equity • Assets = owner's equity • Cash = assets • Assets - liabilities = owner's equity
1. inventories 2. Taxes 3. construction contracts 4. revenue