Determining Cost of Land On-Time Delivery Company acquired an adjacent lot to construct a new warehouse,...
Determining Cost of Land On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $26,000 and giving a short-term note for $335,000. Legal fees paid were $1,830, delinquent taxes assumed were $9,800, and fees paid to remove an old building from the land were $21,900. Materials salvaged from the demolition of the building were sold for $5,400. A contractor was paid $1,097,400 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet. $
Homework Answers
Calculation of cost of land
| Particulars | Amount |
| Initial cost | $26000 |
| Short term note | $335000 |
| Legal Fees | $1830 |
| Deliquent taxes | $9800 |
| Removing cost of old building | $21900 |
| Scrap sale | ($5400) |
| Cost of Land | $389130 |
Note - $1097400 will not be considered since it will cost of warehouse only and not of land.
Add Answer to:
Determining Cost of Land On-Time Delivery Company acquired an
adjacent lot to construct a new warehouse,...
Determining Cost of Land Fastball Delivery Company acquired an adjacent lot to construct a new warehouse,...
Determining Cost of Land Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying $27,000 and giving a short-term note for $268,000. Legal fees paid were $1,910, delinquent taxes assumed were $11,100, and fees paid to remove an old building from the land were $22,600. Materials salvaged from the demolition of the building were sold for $4,400. A contractor was paid $896,800 to construct a new warehouse. Determine the cost of the land to be reported on...
Determining Cost of Land Fastball Delivery Company acquired an adjacent lot to construct a new warehouse,...
Determining Cost of Land Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying $41,000 and giving a short term note for $267.000. Legal fees paid were $1,815, delinquent taxes assumed were $11,200, and fees paid to remove an old building from the land were $23,000. Materials salvaged from the demolition of the building were sold for $4,600. A contractor was paid $936,300 to construct a new warehouse. Determine the cost of the land to be reported...
On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $35,000 in cash...
On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $35,000 in cash and giving a short-term note for $294,000. Legal fees paid were $1,750, delinquent taxes assumed were $12,400, and fees paid to remove an old building from the land were $18,300. Materials salvaged from the demolition of the building were sold for $4,900. A contractor was paid $1,000,200 to construct a new warehouse.
7. EX.09-03.ALGO (Algorithmic) Determining Cost of Land Fastball Delivery Company acquired an adjacent lot to construct...
7. EX.09-03.ALGO (Algorithmic) Determining Cost of Land Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying $36,000 and giving a short-term note for $336,000. Legal fees paid were $1,675, delinquent taxes assumed were $14,100, and fees paid to remove an old building from the land were $16,600. Materials salvaged from the demolition of the building were sold for $5,600. A contractor was paid $1,130,900 to construct a new warehouse. Determine the cost of the land to...
Cost of Land On-Time Delivery Company acquired an adjacent lot were $2,480, delinquent taxes demolition of...
Cost of Land On-Time Delivery Company acquired an adjacent lot were $2,480, delinquent taxes demolition of the building were sold for $5,300. A contractor was paid $1,073,100 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet. to construct a new warehouse, paying $32,000 and giving a short-term note for $321,000. Legal fees paid assumed were $13,300, and fees paid to remove an old building from the land were $18,600. Materials salvaged...
en olgen 7. EX.09-03.ALGO (Algorithmic) Determining Cost of Land Fastball Delivery Company acquired an adjacent lot...
en olgen 7. EX.09-03.ALGO (Algorithmic) Determining Cost of Land Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying $36,000 and giving a short-term note for $336,000. Legal fees paid were $1,675, delinquent taxes assumed were $14, 100, and fees paid to remove an old building from the land were $16,600. Materials salvaged from the demolition of the building were sold for $5,600. A contractor was paid $1,130,900 to construct a new warehouse. Determine the cost of...
PLEASE HELP! Determining Cost of Land On-Time Delivery Company acquired an adiacent lot to construct a...
PLEASE HELP!
Determining Cost of Land On-Time Delivery Company acquired an adiacent lot to construct a new warehouse, paying $30,000 in cash and giving a short-term nate for $289.000. Legal fees paid were $1,765, delinquent taxes assumed were $10,700, and fees paid to remove an old building from the land were $17,800. Materials salvaged from the demolition of the building were sold for $4,800. A contractor was paid $969,800 to construct a new warehouse. Determine the cost of the land...
Show Me How Debermining Cest of Land Festhal Delivery Company acquired en ogacent lot to construct...
Show Me How Debermining Cest of Land Festhal Delivery Company acquired en ogacent lot to construct ฮ nre marehoune, peyno e new warehouse, paying $27,000 and giving a short-term note for $268,000. Legpal fees paid were $1,910, toremove an old buldng from the land were %22,000. Materiais salvaged from the demolbonofthe buidrg T told- for $4,400 A contractor was paid $896,800 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet mone...
Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase price, Samtech...
Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase price, Samtech made the following expenditures in connection with the purchase of the land and building: Title insurance Legal fees for drawing the contract Pro-rated property taxes for the period after acquisition State transfer fees $26,000 5,000 46,000 5,000 An independent appraisal estimated the fair values of the land and building, if purchased separately, at $3.2 and $1.8 million, respectively. Shortly after acquisition, Samtech spent $92,000...
1 Samtech Manufacturing purchased land and building for $3 million. In addition to the purchase price,...
1 Samtech Manufacturing purchased land and building for $3 million. In addition to the purchase price, Samtech made the following expenditures in connection with the purchase of the land and building: 1 Title insurance $30,000 7,000 50,000 5,400 points Legal fees for drawing the contract Pro-rated property taxes for the period after acquisition State transfer fees еВook An independent appraisal estimated the fair values of the land and building, if purchased separately, at $3 and $1 million, respectively. Shortly after...
Determining Cost of Land Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying $41,000 and giving a short term note for $267.000. Legal fees paid were $1,815, delinquent taxes assumed were $11,200, and fees paid to remove an old building from the land were $23,000. Materials salvaged from the demolition of the building were sold for $4,600. A contractor was paid $936,300 to construct a new warehouse. Determine the cost of the land to be reported...
7. EX.09-03.ALGO (Algorithmic) Determining Cost of Land Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying $36,000 and giving a short-term note for $336,000. Legal fees paid were $1,675, delinquent taxes assumed were $14,100, and fees paid to remove an old building from the land were $16,600. Materials salvaged from the demolition of the building were sold for $5,600. A contractor was paid $1,130,900 to construct a new warehouse. Determine the cost of the land to...
Cost of Land On-Time Delivery Company acquired an adjacent lot were $2,480, delinquent taxes demolition of the building were sold for $5,300. A contractor was paid $1,073,100 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet. to construct a new warehouse, paying $32,000 and giving a short-term note for $321,000. Legal fees paid assumed were $13,300, and fees paid to remove an old building from the land were $18,600. Materials salvaged...
en olgen 7. EX.09-03.ALGO (Algorithmic) Determining Cost of Land Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying $36,000 and giving a short-term note for $336,000. Legal fees paid were $1,675, delinquent taxes assumed were $14, 100, and fees paid to remove an old building from the land were $16,600. Materials salvaged from the demolition of the building were sold for $5,600. A contractor was paid $1,130,900 to construct a new warehouse. Determine the cost of...
PLEASE HELP!
Determining Cost of Land On-Time Delivery Company acquired an adiacent lot to construct a new warehouse, paying $30,000 in cash and giving a short-term nate for $289.000. Legal fees paid were $1,765, delinquent taxes assumed were $10,700, and fees paid to remove an old building from the land were $17,800. Materials salvaged from the demolition of the building were sold for $4,800. A contractor was paid $969,800 to construct a new warehouse. Determine the cost of the land...
Show Me How Debermining Cest of Land Festhal Delivery Company acquired en ogacent lot to construct ฮ nre marehoune, peyno e new warehouse, paying $27,000 and giving a short-term note for $268,000. Legpal fees paid were $1,910, toremove an old buldng from the land were %22,000. Materiais salvaged from the demolbonofthe buidrg T told- for $4,400 A contractor was paid $896,800 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet mone...
Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase price, Samtech made the following expenditures in connection with the purchase of the land and building: Title insurance Legal fees for drawing the contract Pro-rated property taxes for the period after acquisition State transfer fees $26,000 5,000 46,000 5,000 An independent appraisal estimated the fair values of the land and building, if purchased separately, at $3.2 and $1.8 million, respectively. Shortly after acquisition, Samtech spent $92,000...
1 Samtech Manufacturing purchased land and building for $3 million. In addition to the purchase price, Samtech made the following expenditures in connection with the purchase of the land and building: 1 Title insurance $30,000 7,000 50,000 5,400 points Legal fees for drawing the contract Pro-rated property taxes for the period after acquisition State transfer fees еВook An independent appraisal estimated the fair values of the land and building, if purchased separately, at $3 and $1 million, respectively. Shortly after...
Most questions answered within 3 hours.
-
Write a chemical equation for these reactions. (Use
the lowest possible whole number coefficients.) Include
states-of-matter...
asked 8 minutes ago -
For each of the Z-scores below, determine two probabilities
(show four three decimal places): (1) the...
asked 43 minutes ago -
Oxidative phosphorylation is achieved through chemiosmotic
coupling, which turns chemical energy into osmotic potential energy
that...
asked 3 hours ago -
Hollywood Shoes would like to maintain their cash account at a
minimum level of $64,000, but...
asked 3 hours ago -
Proteins CtrA-P, DnaA, and GcrA behave similarly to what
molecule in the Eukaryotic Cell Cycle?
asked 3 hours ago -
TRUE OR FALSE
In case of a competitive tender procedure, in the request for
quotation, the...
asked 3 hours ago -
I am a little behind please provide some explanation, will
provide thumbs up.
This question considers...
asked 3 hours ago -
Let say the utility function as U(X,Y) = lnX + Y. Show that the
marginal rate...
asked 3 hours ago -
A current of I=8.0A is flowing in a typical extension cord of
length L=3.00m. The cord...
asked 3 hours ago -
1. When balancing the equation H2SO4 (aq) + NaOH (aq) →
Na2SO4(aq) + H2O(aq), would you...
asked 4 hours ago -
Provide a definition of “classification hierarchy” and
illustrate your definition with an example of how and...
asked 4 hours ago -
1. Describe the four main green solvents. Provide one example of
the use of each solvent....
asked 4 hours ago