Homework Answers
| Cash paid | $78000 |
| Net Demolished cost (7800-1620) | 6180 |
| Attorney fees | 1120 |
| Broker fees | 4300 |
| Cost of Land | $89600 |
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Your a wer is incorrect. Try again On March 1, 2022, Sheridan Company red real estate...
Exercise 9-03 a * Your answer is incorrect. Try again. On March 1, 2022, Sunland Company...
Exercise 9-03 a * Your answer is incorrect. Try again. On March 1, 2022, Sunland Company acquired real estate, on which it planned to construct a small office building, by paying $84,000 in cash. An old warehouse on the property was demolished at a cost of $9,000; the salvaged materials were sold for $1,860. Additional expenditures before construction began included $1,360 attorney's fee for work concerning the land purchase, $4,900 real estate broker's fee, $8,860 architect's fee, and $14,800 to...
Exercise 9-03 a x Your answer is incorrect. Try again. On March 1, 2022, Sunland Company...
Exercise 9-03 a x Your answer is incorrect. Try again. On March 1, 2022, Sunland Company acquired real estate, on which it planned to construct a small office building, by paying $84,000 in cash. An old warehouse on the property was demolished at a cost of $9,000; the salvaged materials were sold for $1,860. Additional expenditures before construction began included $1,360 attorney's fee for work concerning the land purchase, $4,900 real estate broker's fee, $8,860 architect's fee, and $14,800 to...
On March 1, 2017, Blossom Company acquired real estate, on which it planned to construct a...
On March 1, 2017, Blossom Company acquired real estate, on which it planned to construct a small office building, by paying $75,000 in cash. An old warehouse on the property was demolished at a cost of $7,200; the salvaged materials were sold for $1,500. Additional expenditures before construction began included $1,000 attorney's fee for work concerning the land purchase, $4,000 real estate broker's fee, $8,500 architect's fee, and $13,000 to put in driveways and a parking lot. (a) Determine the...
Exercise 1: On March 1, 2008, Penner Company acquired real estate on which it planned to...
Exercise 1: On March 1, 2008, Penner Company acquired real estate on which it planned to construct a small office building. The company paid $80,000 in cash. An old warehouse on the property was razed at a cost of $8,600; the salvaged materials were sold for $1.700. Additional expenditures before construction began included $1,100 attorney's fee for work concerning the land purchase, $5,000 real estate broker's fee, $7,800 architect's fee. Instruction: Compute and journalize the acquisition cost for the land....
On March 1, 2022, Wildhorse Co. acquired real estate, on which it planned to construct a...
On March 1, 2022, Wildhorse Co. acquired real estate, on which it planned to construct a small office building, by paying $85,500 in cash. An old warehouse on the property was demolished at a cost of $9,300; the salvaged materials were sold for $1,920. Additional expenditures before construction began included $1,420 attorney’s fee for work concerning the land purchase, $5,050 real estate broker’s fee, $8,920 architect’s fee, and $15,100 to put in driveways and a parking lot. . (a) Determine...
On March 1, 2022, Blossom Company acquired real estate, on which it planned to construct a small office building, by pay...
On March 1, 2022, Blossom Company acquired real estate, on which it planned to construct a small office building, by paying $80,500 in cash. An old warehouse on the property was demolished at a cost of $8,300; the salvaged materials were sold for $1,720. Additional expenditures before construction began included $1,220 attorney’s fee for work concerning the land purchase, $4,550 real estate broker’s fee, $8,720 architect’s fee, and $14,100 to put in driveways and a parking lot. (a) Determine the...
On March 1, 2019, Cullumber Company acquired real estate on which it planned to construct a...
On March 1, 2019, Cullumber Company acquired real estate on which it planned to construct a small office building. The company paid $75,000 in cash. An old warehouse on the property was razed at a cost of $8,000; the salvaged materials were sold for $1,500. Additional expenditures before construction began included $1,000 attorney’s fee for work concerning the land purchase, $4,000 real estate broker’s fee, $7,000 architect’s fee, and $13,000 to put in driveways and a parking lot. (a) Determine...
Exercise 9-3 On March 1, 2015, Westmorlan Company acquired real estate on which it planned to...
Exercise 9-3 On March 1, 2015, Westmorlan Company acquired real estate on which it planned to construct a small office building. The company paid $92,210 in cash. An old warehouse on the property was razed at a cost of $9,010; the salvaged materials were sold for $1,750. Additional expenditures before construction began included $1,970 attorney’s fee for work concerning the land purchase, $5,190 real estate broker’s fee, $7,280 architect’s fee, and $13,120 to put in driveways and a parking lot....
What costs are land? instructure.com/course/9534/sognment/129361 Show Attempt History Current Attempt in Progress X Your answer is...
What costs are land?
instructure.com/course/9534/sognment/129361 Show Attempt History Current Attempt in Progress X Your answer is incorrect On March 1, 2017, Blossom Company acquired real estate on which it planned to construct a small office building by paving $75.000 in cash. An old warehouse on the property was demolished at a cost of $7.200, the salvaged materials were sold for $1.500. Additional expenditures before construction began included $1.000 attorney's fee for work concerning the land purchase 54,000 real estate brokersfee,...
Exercise 10-1 Your answer is partially correct. Try again The expenditures and receipts below are related...
Exercise 10-1 Your answer is partially correct. Try again The expenditures and receipts below are related to land, land improvements, and buildings acquired for use in a business enterprise. The receipts are enclosed in parentheses (a) Money borrowed to pay building contractor (signed a note) (b)Payment for construction from note proceeds (c) Cost of land fill and clearing (d) Delinquent real estate taxes on property assumed by purchaser (e) Premium on 6-month insurance policy during construction (f) Refund of 1-month...
Exercise 9-03 a * Your answer is incorrect. Try again. On March 1, 2022, Sunland Company acquired real estate, on which it planned to construct a small office building, by paying $84,000 in cash. An old warehouse on the property was demolished at a cost of $9,000; the salvaged materials were sold for $1,860. Additional expenditures before construction began included $1,360 attorney's fee for work concerning the land purchase, $4,900 real estate broker's fee, $8,860 architect's fee, and $14,800 to...
Exercise 9-03 a x Your answer is incorrect. Try again. On March 1, 2022, Sunland Company acquired real estate, on which it planned to construct a small office building, by paying $84,000 in cash. An old warehouse on the property was demolished at a cost of $9,000; the salvaged materials were sold for $1,860. Additional expenditures before construction began included $1,360 attorney's fee for work concerning the land purchase, $4,900 real estate broker's fee, $8,860 architect's fee, and $14,800 to...
On March 1, 2017, Blossom Company acquired real estate, on which it planned to construct a small office building, by paying $75,000 in cash. An old warehouse on the property was demolished at a cost of $7,200; the salvaged materials were sold for $1,500. Additional expenditures before construction began included $1,000 attorney's fee for work concerning the land purchase, $4,000 real estate broker's fee, $8,500 architect's fee, and $13,000 to put in driveways and a parking lot. (a) Determine the...
Exercise 1: On March 1, 2008, Penner Company acquired real estate on which it planned to construct a small office building. The company paid $80,000 in cash. An old warehouse on the property was razed at a cost of $8,600; the salvaged materials were sold for $1.700. Additional expenditures before construction began included $1,100 attorney's fee for work concerning the land purchase, $5,000 real estate broker's fee, $7,800 architect's fee. Instruction: Compute and journalize the acquisition cost for the land....
What costs are land?
instructure.com/course/9534/sognment/129361 Show Attempt History Current Attempt in Progress X Your answer is incorrect On March 1, 2017, Blossom Company acquired real estate on which it planned to construct a small office building by paving $75.000 in cash. An old warehouse on the property was demolished at a cost of $7.200, the salvaged materials were sold for $1.500. Additional expenditures before construction began included $1.000 attorney's fee for work concerning the land purchase 54,000 real estate brokersfee,...
Exercise 10-1 Your answer is partially correct. Try again The expenditures and receipts below are related to land, land improvements, and buildings acquired for use in a business enterprise. The receipts are enclosed in parentheses (a) Money borrowed to pay building contractor (signed a note) (b)Payment for construction from note proceeds (c) Cost of land fill and clearing (d) Delinquent real estate taxes on property assumed by purchaser (e) Premium on 6-month insurance policy during construction (f) Refund of 1-month...
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