Lump Sum payment = $900000
appraised value | % value | Cost (apportioned) | |
Building | 508800 | 53% | 477000 |
Land | 297600 | 31% | 279000 |
Land improvements | 28800 | 3% | 27000 |
Four Vehicle | 124800 | 13% | 117000 |
Sum | 960000 | 100% | 900000 |
Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out...
Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2019, at a total cash price of $900,000 for a building, land, land improvements, and four vehicles. The estimated market values of the assets are building, $508,800; land, $297,600; land improvements, $28,800; and four vehicles, $124,800. The company's fiscal year ends on December 31. Using the Timberly Construction table above, compute the yearly depreciation expense...
Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2019, at a total cash price of $900,000 for a building, land, land improvements, and four vehicles. The estimated market values of the assets are building, $508,800; land, $297,600; land improvements, $28,800; and four vehicles, $124,800. The company's fiscal year ends on December 31. Using the Timberly Construction table above, compute the yearly depreciation expense...
Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2019, at a total cash price of $900,000 for a building, land, land improvements, and four vehicles. The estimated market values of the assets are building, $ 508,800; land, $297,600; land improvements, $28,800; and four vehicles, $124,800. The company's fiscal year ends on December 31. Using the Timberly Construction table above, compute the yearly depreciation...
Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2017, at a total cash price of $900,000 for a building, land, land improvements, and four vehicles. The estimated market values of the assets are building, $508,800; land, $297,600; land improvements, $28,800; and four vehicles, $124,800. The company's fiscal year ends on December 31. Required: 1-a. Prepare a table to allocate the lump-sum purchase price...
Timberly Construction negotiates a lump sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2017 at a total cash price of $800,000 for a building, land, land improvements, and four vehicles. The estimated market values of the assets are building. $444,000; land, $259,000 land improvements, $37,000, and four vehicles, $185,000. The company's fiscal year ends on December 31 Required: 1-a. Prepare a table to allocate the lump sum...
Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2017, at a total cash price of $810,000 for a building, land, land improvements, and four vehicles. The estimated market values of the assets are building, $497,500; land, $298,500; land improvements, $69,650; and four vehicles $129,350. The company's fiscal year ends on December 31. Required: 1-a. Prepare a table to allocate the lump-sum purchase price...
Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2017, at a total cash price of $830,000 for a building, land, land improvements, and four vehicles. The estimated market values of the assets are building, $494,000; land, $323,000; land improvements, $38,000; and four vehicles, $95,000. The company’s fiscal year ends on December 31. Required: 1-a. Prepare a table to allocate the lump-sum purchase price...
Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2017, at a total cash price of $810,000 for a building, land, land improvements, and four vehicles. The estimated market values of the assets are building, $446,200; land, $320,100; land improvements, $48,500; and four vehicles, $155,200. The company’s fiscal year ends on December 31. Required: 1-a. Prepare a table to allocate the lump-sum purchase price...
Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2017, at a total cash price of $800,000 for a building, land, land improvements, and four vehicles. The estimated market values of the assets are building, $482,500; land, $308,800; land improvements, $38,600; and four vehicles, $135,100. The company’s fiscal year ends on December 31. Required: 1-a. Prepare a table to allocate the lump-sum purchase price...
Timberly Construction negotiates a lump-sum purchase of several assets from a company that is going out of business. The purchase is completed on January 1, 2017, at a total cash price of $850,000 for a building, land, land improvements, and four vehicles. The estimated market values of the assets are building, $471,750; land, $286,750; land improvements, $46,250; and four vehicles, $120,250. The company’s fiscal year ends on December 31. Required: 1-a. Prepare a table to allocate the lump-sum purchase price...