Accounting PracticeHomework Answers
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Cost of land = cash 185,000+property taxes due 5300+attorney fee 2400 + 4300 = 197,000 Option D is the answer |
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Accounting Practice
Sunland Company purchases land for $185000 cash. Sunland assumes $5300 in property taxes due...
Crane Company purchases land for $200000 cash. Crane assumes $5900 in property taxes due on the...
Crane Company purchases land for $200000 cash. Crane assumes $5900 in property taxes due on the land. The title and attorney fees totaled $2300. Crane has the land graded for $4000. They paid $20000 for paving of a parking lot. What amount does Crane record as the cost for the land? O $206300. $212200 $232200. O $200000. Click if you would like to Show Work for this question: Open Show Work
Multiple Choice Question 57 Cullumber Company purchases land for $120000 cash. Cullum ber assumes $5100 in...
Multiple Choice Question 57 Cullumber Company purchases land for $120000 cash. Cullum ber assumes $5100 in property taxes due on the land. The title and attorney fees totaled $2300. Cullumber has the land graded for $3600. They paid $18000 for paving of a parking lot. What amount does Cullumber record as the cost for the land? $125900. $131000. O$149000. $120000. Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of used SAVE...
Gagner Clinic purchases land for $175,000 cash
Gagner Clinic purchases land for $175,000 cash. The clinic assumes S1.500 in property taxes due on the land. The title and attorney fees totaled 51.000. The clinic has the land graded for 52.200. What amount does Gagner Clinic record as the cost for the land? $175,000 $157 200 $157,500 $179,700
Multiple Choice Question 56 Skysong, Inc. purchases land for $420000 cash. The clinic assumes $5400 in...
Multiple Choice Question 56 Skysong, Inc. purchases land for $420000 cash. The clinic assumes $5400 in property taxes due on the land. The title and attorney fees totaled $3200. The clin amount does Skysong, Inc. record as the cost for the land? $436200 O $428600 $427600. O $420000
The financial statements of the Sheridan Company reports net sales of $756000 and accounts receivable of...
The financial statements of the Sheridan Company reports net sales of $756000 and accounts receivable of $67200 and $24000 at the beginning of the year and end of year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation) 9.8 days 44.0 days 34.2 days 22.0 days Click if you would like to Show Work for this question: Open Show Work mupe Cruice Question 56 Sunland Clinic purchases land for $530000 cash. The...
1.On May 1, 2017, Irwin Company purchased the copyright to Quick Computer Tutorials for $120000. It...
1.On May 1, 2017, Irwin Company purchased the copyright to Quick
Computer Tutorials for $120000. It is estimated that the copyright
will have a useful life of 5 years. The amount of amortization
expense recognized for the year 2017 would be
$24000.
$12000.
$16000.
$12800.
2.
Whyte Clinic purchases land for $420000 cash. The clinic assumes
$4500 in property taxes due on the land. The title and attorney
fees totaled $3000. The clinic had the land graded for $6600. What...
please help with these accouting questions! IV ab X X APA 1 Styles Styles Pane Sensiti...
please help with these accouting questions!
IV ab X X APA 1 Styles Styles Pane Sensiti 7. Burke Company purchases land for $180,000 cash. Burke assumes $5,000 in property taxes due on the land. The title and attorney fees totaled $2,000. Burke has the land graded for $4,400. They paid $20,000 for paving of a parking lot. What amount does Burke record as the cost for the land? A) $186,400. B) $211,400 C) $191,400 D) $180,000. 8. Ramirez Company acquires...
Sheridan Company burchases and for 5130000 cash. Sheridan sumes 5000 in preparty due on the land....
Sheridan Company burchases and for 5130000 cash. Sheridan sumes 5000 in preparty due on the land. These and attorneys They paid $24000 for paving of a parang lot. What amount does Sheridan record the cost for the land? totaled $3200 Sheridan has the land graded for 4400 5142600 $137600 $130000 $166600
e Cambridge Business Publishee Accounting for Long-Lived and Intangible Assets Chapter 9 PROBLEMS-SET A P9-1A. Acquisition...
e Cambridge Business Publishee Accounting for Long-Lived and Intangible Assets Chapter 9 PROBLEMS-SET A P9-1A. Acquisition Cost of Long-Lived Assets The following items represent expenditures (or receipts) LO1 related to the construction of a new home office for Norma Company. Cost of land site, which included an old apartment building appraised at $75,000 Legal fees, including fee for title search. .. Payment of apartment building mortgage and related interest due at time of sale Payment for delinquent property taxes assumed...
A company purchased land for $82,000 cash. Commissions of $8,000, property taxes of $8,500, and title...
A company purchased land for $82,000 cash. Commissions of $8,000, property taxes of $8,500, and title insurance of $2,200 were also incurred. The $8,500 in property taxes includes $5,400 in back taxes paid by the company on behalf of the seller and $3,100 due for the current year after the purchase date. For what amount should the company record the land? Multiple Choice $95,400. О O $97,600. $100,700. O $82,000. A company purchased new equipment for $68,000. The company paid...
Crane Company purchases land for $200000 cash. Crane assumes $5900 in property taxes due on the land. The title and attorney fees totaled $2300. Crane has the land graded for $4000. They paid $20000 for paving of a parking lot. What amount does Crane record as the cost for the land? O $206300. $212200 $232200. O $200000. Click if you would like to Show Work for this question: Open Show Work
Multiple Choice Question 57 Cullumber Company purchases land for $120000 cash. Cullum ber assumes $5100 in property taxes due on the land. The title and attorney fees totaled $2300. Cullumber has the land graded for $3600. They paid $18000 for paving of a parking lot. What amount does Cullumber record as the cost for the land? $125900. $131000. O$149000. $120000. Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of used SAVE...
Multiple Choice Question 56 Skysong, Inc. purchases land for $420000 cash. The clinic assumes $5400 in property taxes due on the land. The title and attorney fees totaled $3200. The clin amount does Skysong, Inc. record as the cost for the land? $436200 O $428600 $427600. O $420000
The financial statements of the Sheridan Company reports net sales of $756000 and accounts receivable of $67200 and $24000 at the beginning of the year and end of year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation) 9.8 days 44.0 days 34.2 days 22.0 days Click if you would like to Show Work for this question: Open Show Work mupe Cruice Question 56 Sunland Clinic purchases land for $530000 cash. The...
1.On May 1, 2017, Irwin Company purchased the copyright to Quick
Computer Tutorials for $120000. It is estimated that the copyright
will have a useful life of 5 years. The amount of amortization
expense recognized for the year 2017 would be
$24000.
$12000.
$16000.
$12800.
2.
Whyte Clinic purchases land for $420000 cash. The clinic assumes
$4500 in property taxes due on the land. The title and attorney
fees totaled $3000. The clinic had the land graded for $6600. What...
please help with these accouting questions!
IV ab X X APA 1 Styles Styles Pane Sensiti 7. Burke Company purchases land for $180,000 cash. Burke assumes $5,000 in property taxes due on the land. The title and attorney fees totaled $2,000. Burke has the land graded for $4,400. They paid $20,000 for paving of a parking lot. What amount does Burke record as the cost for the land? A) $186,400. B) $211,400 C) $191,400 D) $180,000. 8. Ramirez Company acquires...
Sheridan Company burchases and for 5130000 cash. Sheridan sumes 5000 in preparty due on the land. These and attorneys They paid $24000 for paving of a parang lot. What amount does Sheridan record the cost for the land? totaled $3200 Sheridan has the land graded for 4400 5142600 $137600 $130000 $166600
e Cambridge Business Publishee Accounting for Long-Lived and Intangible Assets Chapter 9 PROBLEMS-SET A P9-1A. Acquisition Cost of Long-Lived Assets The following items represent expenditures (or receipts) LO1 related to the construction of a new home office for Norma Company. Cost of land site, which included an old apartment building appraised at $75,000 Legal fees, including fee for title search. .. Payment of apartment building mortgage and related interest due at time of sale Payment for delinquent property taxes assumed...
A company purchased land for $82,000 cash. Commissions of $8,000, property taxes of $8,500, and title insurance of $2,200 were also incurred. The $8,500 in property taxes includes $5,400 in back taxes paid by the company on behalf of the seller and $3,100 due for the current year after the purchase date. For what amount should the company record the land? Multiple Choice $95,400. О O $97,600. $100,700. O $82,000. A company purchased new equipment for $68,000. The company paid...
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