Please help. The requirements are the questions. Thanks
Homework Answers
Answer
- Working
|
Machine # |
Appraised Value |
% of total appraised value |
Total cost of acquisition |
Apportioned Cost |
|
1 |
$ 30,000.00 |
20.0% |
$ 148,000.00 |
$ 29,600.00 |
|
2 |
$ 75,000.00 |
50.0% |
$ 148,000.00 |
$ 74,000.00 |
|
3 |
$ 45,000.00 |
30.0% |
$ 148,000.00 |
$ 44,400.00 |
|
Total |
$ 150,000.00 |
100% |
$ 148,000.00 |
- Requirement 1
|
Machine # |
Machine Individual Cost |
|
1 |
$ 29,600.00 |
|
2 |
$ 74,000.00 |
|
3 |
$ 44,400.00 |
|
Total |
$ 148,000.00 |
- Machine #3 Sold for its appraised Value will RESULT in
GAIN
>Sale value = appraised value = $ 45000
>Cost of Machine #3 = $ 44400
>gain on sale = 45000 – 44400 = $ 600 GAIN
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Please help. The requirements are the questions.
Thanks
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All info needed is in the table included. Thank you
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Eastwood Properties bought three lots in a subdivision for a
lump-sum price. An independent appraiser valued the lots as
follows:
Eastwood paid$435,000 in cash. Record the purchase in the
journal, identifying each lot's cost in a separate Land account.
Round decimals to two places, and use the computed percentages
throughout. (Record a single compound journal entry. Record
debits first, then credits. Select the explanation on the last
line of the journal entry table.)
Lot $ Appraised Value 49,000 98,000 343,000...
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On thw journal entry I put the answer as: Land-Lot 1: Debit-> 106500 Land-Lot 2: Debit->...
On thw journal entry I put the answer as:
Land-Lot 1: Debit-> 106500
Land-Lot 2: Debit-> 71000
Land-lot 3: Debit-> 1775000
Cash: Credit-> 355000
but it came as wrong answer
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preciate king a lump-sum purchase of assets E10-18 Making a lu Maplewood Properties be ties bought three lots in a...
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Please help. The requirements are the questions. Thanks. Piccadilly Pizza bought a used Ford delivery van...
Please help. The requirements are the questions.
Thanks.
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All info needed is in the table included. Thank you
Oakwood Properties bought three lots in a subdivision for a lump sum price. An independent appraiser valued the lots as follows: (Click the icon to view the values.) Oakwood paid $210,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to two places, and use the computed percentages throughout (Record a single compound journal entry. Record debits first, then credits....
E9-18 Making a lump-sum purchase of assets Maplewood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: dearcdeser Lot Appraised Value $ 144,000 96,000 240,000 Maplewood paid $355,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to two places, and use the computed percentages throughout.
E10-18 Making a lump-sum purchase of assets Maplewood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: Learning Objective 1 Lot 3 5177 500 Lot Appraised Value 1 $ 144,000 2 96,000 240,000 Maplewood paid $355,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to two places, and use the computed percentages throughout. Learning Ob
Data Table Appraised Value Lot 1 144,000 120,000 3 216,000 Print Done %24 Eastwood Properties bought three lots in a subdivision for a lump-sum price. An independent appraiser valued the lots as follows: E (Click the icon to view the values.) Eastwood paid $400,000 in cash. Record the purchase in the journal, identifying each lot's cost in a separate Land account. Round decimals to two places, and use the computed percentages throughout. (Record a single compound journal entry. Record debits...
Eastwood Properties bought three lots in a subdivision for a
lump-sum price. An independent appraiser valued the lots as
follows:
Eastwood paid$435,000 in cash. Record the purchase in the
journal, identifying each lot's cost in a separate Land account.
Round decimals to two places, and use the computed percentages
throughout. (Record a single compound journal entry. Record
debits first, then credits. Select the explanation on the last
line of the journal entry table.)
Lot $ Appraised Value 49,000 98,000 343,000...
Southwood Properties bought the lots in a suivision for a lumpsum price. An independent proses vahend the lots as follows: (Click the icon to view the value) Southwood paid $266,000 inch Record the purchase in the jouw, detyg each lors cost in a pwal Land account Round decimals to two pies, and the computed percentage thoutout Hecord a single compound juntry Record debits first, then credits Select the explanation on the last line of the jument) Date Accounts and Explanation...
On thw journal entry I put the answer as:
Land-Lot 1: Debit-> 106500
Land-Lot 2: Debit-> 71000
Land-lot 3: Debit-> 1775000
Cash: Credit-> 355000
but it came as wrong answer
Maplewood Properties bought the lots in a subdivision for a lump sum price. An independert appraiser valued the lots as follows: Click the icon to view the values :) Maplewood paid $55.000 in cash Record the purchase in the jour dentifying each lot's cost in a parte and count Round...
preciate king a lump-sum purchase of assets E10-18 Making a lu Maplewood Properties be ties bought three lots in a subdivision for a lump sum price. An valued the lots as follows: independent appraiser valued the lot Learning Objective 1 Lot CHAPTER 16 Appraised Value $ 144,000 N 96,000 240,000 w Maplewood paid $355,000 in cash. Recor lot's cost in a separate Land acco computed percentages throughout. od paid $355,000 in cash. Record the purchase in the journal, identifying each...
Please help. The requirements are the questions.
Thanks.
Piccadilly Pizza bought a used Ford delivery van on January 2, 2018, for $20,000. The van was expected to remain in service for four years (45,000 miles). At the end of its useful life, Piccadilly management estimated that the van's residual value would be $2,000. The van traveled 17,000 miles the first year, 18,000 miles the second year, 5,000 miles the third year, and 5,000 miles in the fourth year. Read the...
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