Renn Company acquires land for $56,000 cash. Additional costs are as follows: Removal of shed $ 300
Filling and grading 1, 500
Salvage value of lumber of shed 120
Broker commission 1, 130
Paving of parking lot 10,000
Closing costs 560
Renn will record the acquisition cost of the land as:.
A) $56,000.
B) $57, 690.
C) $59, 610.
D) $59, 370.

Identify the accounting assumption or principle that is described below. (a) select the accounting assumption or principle is the rationale for why plant assets are not reported at liquidation value. (note: do not use the historical cost principle.) (b) select the accounting assumption or principle indicates that personal and business record-keeping should be separately maintained. (c) select the accounting assumption or principle assumes that the dollar is the "measuring stick" used to report on financial performance. (d) select the accounting assumption or principle separates financial information into time periods for reporting purposes. (e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available. (f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.

What is the difference between an "i" statement and a "you" statement? a. the "i" statement is non-confrontational b. the "you" statement is non-confrontational c. the "i" statement is argumentative d. the "you" statement is neutral in tone select the best answer from the choices provided

In microeconomics, the point at which supply and demand meet is called the blank price