On february 1, 2012, nelson corporation purchased a parcel of land as a factory site for $250,000. an old building on the property was demolished, and construction began on a new building which was completed on november 1, 2012. costs incurred during this period are listed below:
demolition of old building $ 20,000architect's fees 35,000legal fees for title investigation and purchase contract 5,000construction costs 1,290,000(salvaged materials resulting from demolition were sold for $10,000.)
nelson should record the cost of the land and new building, respectively, as:
a. $275,000 and $1,315,000.
b. $260,000 and $1,330,000.
c. $260,000 and $1,325,000.
d. $265,000 and $1,325,000.

d. $265,000 and $1,325,000.

Explanation:

The computation is shown below:

For land:

= Factory lite + Demolition of old building + Legal fees for title investigation and purchase contract - Salvaged materials resulting from demolition

= $250,000 + $20,000 + $5,000 - $10,000

= $265,000

For new building:

= Architect's fees + Construction costs

=$35,000 + $1,290,000

= $1,325,000

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.