A building with an appraisal value of $167,000 is made available at an offer price of $162,000 . The purchaser acquires the property for $25,000 in cash, a 90-day note payable for $75,000, and a mortgage amounting to $65,000 . The cost basis recorded in the buyer's accounting records to recognize this purchase is
a. $167,000
b. $162,000
c. $165,000
d. $140,000
c
You might also like to view...
If you park your car in a parking lot, keep the keys, and can drive the car out yourself whenever you wish, a bailment has not been created.
Answer the following statement true (T) or false (F)
A useful clue about an organization's culture is
A. found by seeing who is hired and who is fired. B. environmental scanning. C. the macroenvironment. D. information printed in the media. E. the industrial environment.
Case 1-1Darlene is studying Aristotle's rhetorical triangle in her communication class. Please answer the questions below. Aristotle diagrammed the effectiveness of speakers in a triangle, which he called the rhetorical triangle. Rhetor means "____" in Greek.
A. voice B. public speaking C. words D. speaker
According to a report from the National Bureau of Economic Research, white-sounding names got 50 percent more call-backs than African American–sounding names, even when skills and experience were equal. This is an example of _____ in the workplace.
a. conscious bias b. active bias c. deliberate bias d. unconscious bias