Question: i need typed answer don't use chatgpt to answer give me a proper explanation i will thumb up. On June 25, Tin Roofing extended an

i need typed answer don't use chatgpt to answer give me a proper explanation i will thumb up.

On June 25, Tin Roofing extended an offer of $105,000 for land that had been priced for sale at $120,000. On July 9, Tin Roofing accepted the seller's counteroffer of $114,000. On October 1, the land was assessed at a value of $171,000 for property tax purposes. On December 22, Tin Roofing was offered $182,000 for the land by a national retail chain. At what value should the land be recorded in Tin Roofing's records?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Roberta Santos, age 41, is single and lives at 120 Sanbome Avenue, Springfield, IL 60781. Her Social Security number is 123-45-6789. Roberta has been divorced from her former husband, Wayne, for...

i need typed answer don't use chatgpt to answer give me a proper explanation i will thumb up. On June 25, Tin Roofing extended an offer of $105,000 for land that had been priced for sale at $120,00...

Please help i am having trouble with my assignment this is my last module to graduate please help me do it so can compare my answers and pass. FACULTY DEPARTMENT SUBJECT MARKS ASSESSSMENT ECONOMICS...

business law For the year ended 30 June 2012, the audit team included a manager, two supervisors, two qualified seniors and three trainees. This audit, which lasted approximately five weeks, was very...

Chart Assignment: After reviewing Ch. 10 of aplia in the text, you will put your knowledge to work. You will be constructing charts based on the information below. You must use the information found...

Hello. Can you help with this four question problem? Case PRIVATE EQUITY CASE: MERGER CONSOLIDATION The questions below COMBINE the Ohio & Maryland PT acquisitions as if they are a single c Learning...

Include citations after text and references at the end of the answer - this is essential Tutor : BaronSardine2222 - answered it perfectly but cant provide references to validate the answers and...

1) Critically evaluate how has the enterprise value of the Cape Union Mart moved over the past 5 years and from this assessment, what has been the significant driver. Based on your analysis, advise...

Can someone help me with this? I need it by tomorrow chapter 2 Issues in Accounting for Corporate Debt and Equity istockphoto Learning Objectives Be able to articulate the advantages and...

Last Updated: July 18, 2016 American Mock Trial Association MIDLANDS RULES OF EVIDENCE Article I. Rule 101. Scope; Definitions (a) Scope. These rules apply to proceedings in the courts of the State...

Listen to the following videos and then complete the assignments using the changed numbers on the guidance report. Place your answers on the guidance report. Open the Guidance Report and rework the...

Boeing is one of the worlds major aerospace firms, with operations involving commercial aircraft, military aircraft, missiles, satellite systems, and information and battle management systems. As of...

Prepare an argument for presentation in class in which you develop one closely reasoned argument. You may wish to present one of the evidenced arguments. Find an argumentative editorial published in...

Which of the following statements is true? The equivalent units in beginning work in process inventory plus the equivale units in ending work in process inventory equals the units transferred out...

SHOW ALL WORK AND FORMULAS If you note the following yield curve in The Wall Street Journal, what is the one-year forward rate for the period beginning one year from today, 2f1 according to the...