When inventory is sold by a wholesaler or retailer, it is recorded in a different account on the income statement than a manufacturer would use

Which act permits a lower "training wage," which employers may pay to workers under the age of 20 for a period of up to 90 days?

A. FLSA B. ADA C. FMLA D. ERISA

Elway Company purchases land for $85,000 cash. Elway assumes $2,500 in property taxes due on the land. The title and attorney fees totaled $1,000. Elway has the land graded for $2,200. They paid $10,000 for paving of a parking lot. What amount does Elway record as the cost for the land?

a. $88,200 b. $100,700 c. $90,700 d. $85,000