Hi,
Below are the answer for above mentioned question.
Cost of Land | Cost of Building | ||
Particulars | Amount | Particulars | Amount |
Land Purchase | $ 400,000.00 | Demolishing old Building | $ 42,000.00 |
Legal Fees | $ 1,850.00 | Land survey | $ 2,200.00 |
Insurance on property | $ 1,500.00 | Factory plan | $ 68,000.00 |
Total cost | $ 403,350.00 | Insurance for construction | $ 900.00 |
Contractor charges for construction | $ 2,740,000.00 | ||
Interest cost | $ 170,000.00 | ||
Total cost | $ 3,023,100.00 |
Problem 1 Beaver Company purchased land as a factory site for $400,000. The process of tearing...
Bonita Co. purchased land as a factory site for $512,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $53,760 to raze the old buildings and sold salvaged lumber and brick for $8,064. Legal fees of $2,368 were paid for title Investigation and drawing the purchase contract. Bonita paid $2,816 to an engineering form for a land survey, and $87,040 for drawing the factory plans. The land survey...
Cheyenne Co. purchased land as a factory site for $456,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $47,880 to raze the old buildings and sold salvaged lumber and brick for $7,182. Legal fees of $2,109 were paid for title investigation and drawing the purchase contract. Cheyenne paid $2,508 to an engineering firm for a land survey, and $77,520 for drawing the factory plans. The land survey...
Sarasota Co. purchased land as a factory site for $600,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $63,000 to raze the old buildings and sold salvaged lumber and brick for $9,450. Legal fees of $2,775 were paid for title investigation and drawing the purchase contract.Sarasota paid $3,300 to an engineering firm for a land survey, and $102,000 for drawing the factory plans. The land survey had...
Sweet Co. purchased land as a factory site for $600,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $63,000 to raze the old buildings and sold salvaged lumber and brick for $9,450. Legal fees of $2,775 were paid for title investigation and drawing the purchase contract. Sweet paid $3,300 to an engineering firm for a land survey, and $102,000 for drawing the factory plans. The land survey...
Coronado Co. purchased land as a factory site for $488,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $51,240 to raze the old buildings and sold salvaged lumber and brick for $7,686. Legal fees of $2,257 were paid for title investigation and drawing the purchase contract. Coronado paid $2,684 to an engineering firm for a land survey, and $82,960 for drawing the factory plans. The land survey...
Shamrock Co. purchased land as a factory site for $432,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $45,360 to raze the old buildings and sold salvaged lumber and brick for $6,804. Legal fees of $1.998 were paid for title investigation and drawing the purchase contract. Shamrock paid $2,376 to an engineering firm for a land survey, and $73.440 for drawing the factory plans. The land survey...
Flounder Co. purchased land as a factory site for $488,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $51,240 to raze the old buildings and sold salvaged lumber and brick for $7,686. Legal fees of $2,257 were paid for title investigation and drawing the purchase contract. Flounder paid $2,684 to an engineering firm for a land survey, and $82,960 for drawing the factory plans. The land survey...
Exercise 10-02 Sheridan Co. purchased land as a factory site for $576,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $60,480 to raze the old buildings and sold salvaged lumber and brick for $9,072. Legal fees of $2,664 were paid for title investigation and drawing the purchase contract. Sheridan paid $3,168 to an engineering firm for a land survey, and $97,920 for drawing the factory plans. The...
Exercise 10-02 Sheridan Co. purchased land as a factory site for $576,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $60,480 to raze the old buildings and sold salvaged lumber and brick for $9,072. Legal fees of $2,664 were paid for title investigation and drawing the purchase contract. Sheridan paid $3,168 to an engineering firm for a land survey, and $97,920 for drawing the factory plans. The...
Exercise 10-2 Crane Co. purchased land as a factory site for $416,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $43,680 to raze the old buildings and sold salvaged lumber and brick for $6,552. Legal fees of $1,924 were paid for title investigation and drawing the purchase contract. Crane paid $2,288 to an engineering firm for a land surv $70,720 for drawing the factory plans. The land...