On february 1, 2012, nelson corporation purchased a parcel of land as a factory site for $250,000. an old building on the property was demolished, and construction began on a new building which was completed on november 1, 2012. costs incurred during this period are listed below:
demolition of old building $ 20,000architect's fees 35,000legal fees for title investigation and purchase contract 5,000construction costs 1,290,000(salvaged materials resulting from demolition were sold for $10,000.)
nelson should record the cost of the land and new building, respectively, as:
a. $275,000 and $1,315,000.
b. $260,000 and $1,330,000.
c. $260,000 and $1,325,000.
d. $265,000 and $1,325,000.

Presented below is a list of possible transactions. analyze the effect of the 18 transactions on the financial statement categories indicated. transactions assets liabilities owners’ equity net income 1. purchased inventory for $80,000 on account (assume perpetual system is used). 2. issued an $80,000 note payable in payment on account (see item 1 above). 3. recorded accrued interest on the note from item 2 above. 4. borrowed $100,000 from the bank by signing a 6-month, $112,000, zero-interest-bearing note. 5. recognized 4 months’ interest expense on the note from item 4 above. 6. recorded cash sales of $75,260, which includes 6% sales tax. 7. recorded wage expense of $35,000. the cash paid was $25,000; the difference was due to various amounts withheld. 8. recorded employer’s payroll taxes. 9. accrued accumulated vacation pay. 10. recorded an asset retirement obligation. 11. recorded bonuses due to employees. 12. recorded a contingent loss on a lawsuit that the company will probably lose. 13. accrued warranty expense (assume expense warranty approach). 14. paid warranty costs that were accrued in item 13 above. 15. recorded sales of product and related service-type warranties. 16. paid warranty costs under contracts from item 15 above. 17. recognized warranty revenue (see item 15 above). 18. recorded estimated liability for premium claims outstanding.

One of the benefits of a well designed ergonomic work environment is low operating costs is true or false

Match the different taxes to the levels at which these taxes are levied on consumers and businesses national level/ national and local levels 1.sales tax 2.income tax 3.payroll tax 4.social security tax 4.property tax