Dorsey co. has expanded its operations by purchasing a parcel of land with a building on it from bibb co. for $98,000. the appraised value of the land is $30,000, and the appraised value of the building is $102,000. required: assuming that the building is to be used in dorsey co.’s business activities, what cost should be recorded for the land? indicate why, for income tax purposes, management of dorsey co. would want as little of the purchase price as possible allocated to land. indicate why dorsey co. allocated the cost of assets acquired based on appraised values at the purchase date rather than on the original cost of the land and building to bibb co. assuming that the building is demolished at a cost of $11,000 so that the land can be used for employee parking, what cost should dorsey co. record for the land?

To make a profit while benefiting humanity is an example of a mission statement that what

(a) what was the opportunity cost of non-gm food for many buyers before 2008? (b) why did they prefer the alternative? (c) what was the opportunity cost in 2008? (d) why did it change?

On december 31, 2016, the decarreau, andrew, and bui partnership had the following fiscal year-end balance sheet: cash $10,000accounts receivable $20,000inventory $25,000plant assets - net $30,000loan to decarreau $18,000total assets $103,000accounts payable $14,000loan from bui $15,000decarreaua, capital (20%) $32,000andrew, capital (10%) $23,000bui, capital (70%) $19,000total liab./equity $103,000the percentages shown are the residual profit and loss sharing ratios. the partners dissolved the partnership on january 1, 2017, and began the liquidation process. during july the following events occurred: * receivables of $18,000 were collected.* all inventory was sold for $15,000.*all available cash was distributed on january 31, except for$8,000 that was set aside for contingent expenses. the book value of the partnership equity (i. e., total equity of the partners) on december 31, 2016 isa. $58,000b. $71,000c. $66,000d. $81,000