Name: 5) A company paid $1 54,000 for a property. The property included land appraised at...

Question

Question

Name: 5) A company paid $1 54,000 for a property. The property included land appraised at $87,500, land improvements appraise

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Land (87,500/175,000)*154,000	77,000
Land improvements (35,000/175,000)*154,000	30,800
Buildings (52,500/175,000)*154,000	46,200
Total	154,000

Add a comment

Answer 2

Similar Homework Help Questions

A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was a...

A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000; the land at $35,000, and the parking lot at $18,000. Land should be recorded in the accounting records with an allocated cost of: $35,000. $0. $30,435. $46,087. $100,000.
A company purchased property for $100,000. The property included a building, a parking lot, and land....

A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $53,000; the land at $52,200, and the parking lot at $19,800. Land should be recorded in the accounting records with an allocated cost of
A company purchased property for $100,000. The property included a building, a parking lot, and land....

A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $54,500; the land at $51,000, and the parking lot at $19,500. Land should be recorded in the accounting records with an allocated cost of:

A company purchased property for $100,000. The property included a building, a parking lot, and land....

A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $61.000; the land at $45,800, and the parking lot at $18,200. Land should be recorded in the accounting records with an allocated cost of Multiple Choice $42,640 $45,800. $100,000. $0 $36,640.
A company purchased property for $100,000. The property included a building, a parking lot, and land....

A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000, the land was appraised at $35,000, and the parking lot was appraised at $18,000. How much should the land be recorded in accounting revenue?
Rodriguez Company pays $384,345 for real estate with land, land improvements, and a building. Land is...

Rodriguez Company pays $384,345 for real estate with land, land improvements, and a building. Land is appraised at $225,000; land improvements are appraised at $100,000; and a building is appraised at $175,000. Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.

33. A company paid $125,000, plus a 9% commission and $7,000 in closing costs for a...

33. A company paid $125,000, plus a 9% commission and $7,000 in closing costs for a property. The property included land appraised at $85,000, land improvements appraised at $34,000, and a building appraised at $51,000. What should be the allocation of this property's costs in the company's accounting records? a. Land $28,650; Land Improvements, $42,975; Building, $71,625 b. Land $85,000; Land Improvements; $34,000; Building; $51,000 c. Land $25,000; Land Improvements, $37,500; Building, $62,500 d. Land $71,625; Land Improvements, $28,650; Building,...
Which answer is correct? A company purchased property for $100,000. The property included a building, a...

Which answer is correct? A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $53,500; the land at $51,800, and the parking lot at $19,700. Land should be recorded in the accounting records with an allocated cost of: Multiple Choice o $100,000. o $41,440. o $51,800. o $0. o $47,440.
Help Save & Exit Sub A company purchased property for $100,000. The property included a building, a parking lot...

Help Save & Exit Sub A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $60,000, the land at $46,600, and the parking lot at $18,400. Land should be recorded in the accounting records with an allocated cost of Multiple Choice Ο 46,6oo. Ο Ο Ο Ο '

A company purchased property for $100,000. The property included a building, equipment and land. The building...

A company purchased property for $100,000. The property included a building, equipment and land. The building was appraised at $62,000, the land at $45,000, and the equipment at $18,000 for a total appraised value of $125,000. What is the amount of cost to be allocated to the building in the accounting records? $0 $49,600 $62,000 $100,000 A company purchased office equipment for $24,500 and paid $1,470 in sales tax, $550 for installation, $3,200 for a needed adjustment to the equipment,...

Name: 5) A company paid $1 54,000 for a property. The property included land appraised at...

Homework Answers

Add Answer to:
Name: 5) A company paid $1 54,000 for a property. The property included land appraised at...

Post as a guest

Earn Coins

A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was a...

A company purchased property for $100,000. The property included a building, a parking lot, and land....

A company purchased property for $100,000. The property included a building, a parking lot, and land....

A company purchased property for $100,000. The property included a building, a parking lot, and land....

A company purchased property for $100,000. The property included a building, a parking lot, and land....

Rodriguez Company pays $384,345 for real estate with land, land improvements, and a building. Land is...

33. A company paid $125,000, plus a 9% commission and $7,000 in closing costs for a...

Which answer is correct? A company purchased property for $100,000. The property included a building, a...

Help Save & Exit Sub A company purchased property for $100,000. The property included a building, a parking lot...

A company purchased property for $100,000. The property included a building, equipment and land. The building...

Name: 5) A company paid $1 54,000 for a property. The property included land appraised at...

Homework Answers

Add Answer to: Name: 5) A company paid $1 54,000 for a property. The property included land appraised at...

Post as a guest

Earn Coins

Add Answer to:
Name: 5) A company paid $1 54,000 for a property. The property included land appraised at...