Fix the wrong answers. Thank you!!!
Fix the wrong answers. Thank you!!! Estimated Useful Life (in years) N/A Asset Land Building Equipment...
On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1,040,000 to the various types of assets along with estimated useful lives and residual values are as follows: Asset Cost Estimated Residual Value Estimated Useful Life (in years) Land $ 120,000 N/A N/A Building 540,000 none 25 Equipment 200,000 10% of cost 6 Vehicles 180,000 $ 15,000 10 Total $ 1,040,000 On June 29, 2022, equipment included...
On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1,020,000 to the various types of assets along with estimated useful lives and residual values are as follows: Estimated Useful Life (in years) N/A Asset Land Building Equipment Vehicles Total 25 Estimated Residual Value N/A none 12% of cost $14,000 Cost $ 110,000 520,000 220,000 170,000 $1,020,000 10 10 On June 29, 2022, equipment included in the...
On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1,020,000 to the various types of assets along with estimated useful lives and residual values are as follows: Asset Land Building Equipment Vehicles Total Cost $ 110,000 520,000 220,000 170,000 $1,020,000 Estimated Residual Value N/A none 12% of cost $14,000 Estimated Useful Life (in years) N/A 25 10 On June 29, 2022, equipment included in the March...
On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1,090,000 to the various types of assets along with estimated useful lives and residual values are as follows: Asset Cost Estimated Residual Value Estimated Useful Life (in years) Land $ 145,000 N/A N/A Building 590,000 none 20 Equipment 155,000 12% of cost 10 Vehicles 200,000 $ 16,000 10 Total $ 1,090,000 On June 29, 2022, equipment included...
On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $960,000 to the various types of assets along with estimated useful lives and residual values are as follows: Asset Cost Estimated Residual Value Estimated Useful Life (in years) Land $ 120,000 N/A N/A Building 460,000 none 25 Equipment 260,000 10% of cost 6 Vehicles 120,000 $ 15,000 10 Total $ 960,000 On June 29, 2022, equipment included...
On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1,000,000 to the various types of assets along with estimated useful lives and residual values are as follows: Estimated Residual Estimated Useful Value Life (in years) Asset Cost Land $ 100,000 N/A N/A Building 500,000 none 25 Equipment 240,000 10% of cost 8 Vehicles 160,000 $12,000 8 Total $1,000,000 On June 29, 2022, equipment included in the...
On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1,000,000 to the various types of assets along with estimated useful lives and residual values are as follows: Asset Cost Estimated Residual Value Estimated Useful Life (in years) Land 100,000 N/A N/A Building 500,000 None 25 Equipment 240,000 10% of cost 8 Vehicles 160,000 12,000 8 Total 1,000,000 On June 29, 2022, equipment included in the March...
On March 31, 2018, the Herzog Company purchased a factory complete with machinery and equipment. The allocation of the total purchase price of $1,020,000 to the various types of assets along with estimated useful lives and residual values are as follows: Estimated Useful Life in Years N/A 25 Asset Land Building Machinery Equipment Total Estimated Residual Value N/A none 12% of cost $14,000 Cost $ 110,000 520,000 220,000 170,000 $1.920.000 On June 29, 2019, machinery included in the March 31,...
P 11-6 Depreciation methods, partial-year depreciation; sale of assets .LO11-2 On March 31, 2021, the Herzog Company purchased a factory complete with vehicles and equipment. The allocation of the total purchase price of $1,000,000 to the various types of assets along with estimated useful lives and residual values are as follows: Estimated Residual Estimated Useful Asset Cost Value Life (in years) Land $ 100.000 ΝΙΑ N/A Building 500,000 none Equipment 240.000 10% of cost Vehicles 160,000 $12.000 Total $1,000,000 On...
On January 1, 2021, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2022. Expenditures on the project were as follows: $1,e9e, eee 780,000 98e, eee 780,eee 297,eee 630,eee 927,e00 January 1, 2021 March 1, 2021 June 30, 2021 October 1, 28e21 January 31, 2022 April 30, 2822 August 31, 2022 es On January 1, 2021, the company obtained a $3,300,000 construction loan with a 16...