Homework Answers
1)
Net income =(opening +closing/2)*return on assets
=(845000+965000/2)*10%
=(1810000/2)*10%
=905000*10%
=$90500
Net income of hidden valley is $90,500
2)
Cost of an asset will include all expenses made to bring an asset in to use
Cost of asset= price paid +transportation charges+sales tax+installation charges
=43000+2400+2300+1600
=49,300
(According to HomeworkLib,
answering to first question is necessary
Even i answered 2
TNq)
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