For the following examples, state what the correct value is

and what accounting concept justifies your answer:

a$.$ NYU Health bought a magnetic resonance imaging $($MRI$)$

machine worth $$1,500,000,$ but received a discount and

only paid $$1,200,000.$ What is the correct cost to be

recorded?

b$.$ Philadelphia Medical Center bought an acre of land for $$1$

million at a sheriff's sale. After looking at online real estate

websites, the accountants noticed similar properties are

valued at $$1\mathrm{.}4$ million. What is the correct cost to be

recorded?

c$.$ Magee Hospital received a payment from an insurance

company for $$100,000.$ This amount included $$70,000$ for

services already rendered and $$30,000$ for services to be

provided in the future. What is the liability amount to be

recorded?

d$.$ On January $1$st$,2021,$ NYMC Care bought $10,000$ shares

of ABC Company stock worth $$100$ per share. On

December $31$st$,2021,$ the same stock closed at a price of

$$120$ per share. If we were to show this on the balance

sheet as of December $31,2021,$ how much would we

record for the total value of the stocks?

e$.$ On December $1$st $2020,$ UPMC bought $250$ shares of XYZ

Company stock worth $$1,000$ per share. On December

$31$ st$,2020,$ the same stock closed at a price of $$900$ per

share and on December $31$st$,2021,$ the stock closed at a

price of $$1,200.$ How much would we record for the total

value of stocks as of December $31$st$,2020?$ What value

would be recorded on December $31,2021?$