If a company is considering the purchase of a parcel of land that was acquired by the seller for $94,000 is offered for sale at $168,000, is assessed for tax purposes at $104,000, is considered by the purchaser as easily being worth $158,000, and is purchased for $155,000, the land should be recorded in the purchaser's books at:

Complete Question:

If a company is considering the purchase of a parcel of land that was acquired by the seller for $94,000, is offered for sale at $168,000, is assessed for tax purposes at $104,000, is recognized by the purchaser as easily being worth $158,000, and is purchased for $155,000, the land should be recorded in the purchaser's books at:

Multiple Choice

$155,000.

$104,000.

$158,000.

$156,500.

$168,000.

Since the parcel of land is purchased by the company for $155,000, hence the land should be recorded in the purchaser's books at $155,000.

Explanation:

In case of a fixed asset, a debit of the property account, and a credit to cash or payable funds, or a note payable, based on whether it is a cash transaction, debt acquisition or default, are known as a balance sheet asset.

A provision on the register of deeds and other land rights. Also the preference between parties seeking rights in the same property is decided by a recording statute. See the state of the team, state of a note and status of a non-alert (3 key categories of recordings).

steering wheels are always situated on the left side of the car.

always drive on the right side of the road.

white lines separate lanes of traffic traveling the same direction.

hashed or broken lines means you may change lanes when it is safe.

solid white lines mean stay in your lane.

yellow lines separate traffic moving in opposing directions.

hashed or broken yellow lines mean you can carefully pass, paying attention to oncoming traffic.

never cross a solid yellow line (or double yellow line).

when turning left at an intersection, pass in front of any cars that are turning left from the opposing direction (do not try to pass behind them).

use the left lane to pass other cars traveling your direction.

do not pass in the right lane unless absolutely necessary.

if you are driving in the far left hand lane and someone would like to pass you, move over to the right lane when it is safe to do so and allow them to pass.

you must always yield to pedestrians.

come to a complete stop whenever you see pedestrians trying to cross the street.

never pass a school bus if it has flashing red lights. wait until the lights have stopped.

be aware of bicyclists. often they share the road with cars and are supposed to also follow general traffic laws.

be particularly careful about driving in cities with bike lanes -- always check before turning that a bike is not coming.

it is mandatory to pull over or stop at an intersection to allow an emergency vehicle to pass you if you see one traveling with lights flashing and/or a siren running.

do not overuse your car horn. horns are used almost exclusively for emergency situations or for when you feel unsafe.

explanation:

by knowing conditionality

explanation: