Please answer these questions
1.Harding Corporation acquired real estate that contained land, building and equipment. The property cost Harding $2,185,000. Harding paid $630,000 and issued a note payable for the remainder of the cost. An appraisal of the property reported the following values: Land, $666,000; Building, $1,980,000 and Equipment, $1,314,000.
What value will be recorded for the building?
A.$1,980,000
B.$1,092,500
C.$315,000
D.$205,000
2. Which of the following financing options generally provides for longer term financing and generally requires only interest payments until the final maturity of the loan?
A.Bonds Payable
B.Installment Notes Payable
C.Preferred Stock
D.Common Stock
3. Which of the following financing options allows the owner to share in the distributions of company earnings and allows them to vote at annual company meetings?
A.Installment Notes Payable
B.Common Stock
C.Bonds Payable
D.Preferred Stock
