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Remaining me. I lui, Question Completion Status: OTT 5 500S UE. Warehouse no purtre equipment Scarropel...
Question Completion Status: RE Cost of land Attorney's fee, land acquisition Architect's fee, building design Accrued...
Question Completion Status: RE Cost of land Attorney's fee, land acquisition Architect's fee, building design Accrued Taxes on Land 300,000 15,000 35,000 2.500 975,000 Construction cost of Building Annual Salary of staff who supervised the construction of the building for six months 80,000 Interest charges on loan for building paid during construction 5.500 ewalk Closing costs on purchase of land (Title Insurance, Title search) Construction of Parking lot and sidewalk Interest paid after completion of building construction Cost of Electrical...
Stanley Corp. incurred the following costs to accquire land, make land improvements, construct a Warehouse and...
Stanley Corp. incurred the following costs to accquire land, make land improvements, construct a Warehouse and purchase equipment to start operating its sporting goods business. Line 1 Cost of land 300,000 2 Attorney’s fee, land acquisition 15,000 3 Architect’s fee, building design 35,000 4 Accrued Taxes on Land 2,500 5 Construction cost of Building 975,000 6 Annual Salary of staff who supervised the construction of the building for six months 80,000 7 Interest charges on loan for building paid during...
Listed below are costs (or discounts) to purchase or construct new plant assets. Indicate whether the...
Listed below are costs (or discounts) to purchase or construct new plant assets. Indicate whether the costs should be expensed or capitalized (included in the cost of the plant assets on the balance sheet.) For costs that should be, indicate in which category of plant assets (Equipment, Building, or Land) the related costs should be recorded on the balance sheet. Category Event List 1 Costs to install needed electrical lines in a new building 2. Costs to build a base...
Identify each of the following expenditures as chargeable to Land, Land Improvements, Buildings, Machinery and Equipment,...
Identify each of the following expenditures as chargeable to Land, Land Improvements, Buildings, Machinery and Equipment, or other account. 1. Cost of paving parking area for employees and customers. 2. Insurance during construction of building. . Interest incurred on loan during construction of building. 4. Fee paid for installation of equipment. 5. Special foundation for new equipment acquired. 6. Insurance on new equipment while in transit. 7. Freight charges on new equipment. 8. Cost of repairing vandalism damage to equipment...
TBSFC00191 1. TBSFC00191 Classification Situation Gear Inc. recently invested in several plant assets including: land for...
TBSFC00191 1. TBSFC00191 Classification Situation Gear Inc. recently invested in several plant assets including: land for building site, the building, special equipment to be used in the firm's manufacturing operations, and a delivery vehicle. The first column below lists the related expenditures. In the second column, indicate the appropriate account to be debited for the expenditures by clicking on the related cell in that column and selecting from the options provided in the popup list. Items may be used more...
Terrabyte Corporation purchased land as a factory site and contracted with Mordor Construction to construct a...
Terrabyte Corporation purchased land as a factory site and contracted with Mordor Construction to construct a factory. Terrabyte made the following expenditures related to the acquisition of the land, building, and equipment to equip the factory: Purchase price of the land Demolition and removal of old building Clearing and grading the land before construction Various closing costs in connection with acquiring the land Architect's fee for the plans for the new building Payments to Mordor for building construction Equipment purchased...
Question 1 Cobalt Manufacturing purchased equipment and a delivery vehicle on January 1, 2019. The equipment...
Question 1 Cobalt Manufacturing purchased equipment and a delivery vehicle on January 1, 2019. The equipment cost $65,000 and has an estimated useful life of 8 years with a residual value of $9,000 The delivery vehicle cost $150,000 and has an estimated life of 4 years or 200,000 kilometres and a residual value of $14,000. The delivery truck is expected to be driven 35,000 and 40,000 kilometres in 2019 and 2020, respectively. Required 1. Cobalt has decided to depreciate the...
Teradene Corporation purchased land as a factory site and contracted with Maxtor Construction to construct a...
Teradene Corporation purchased land as a factory site and contracted with Maxtor Construction to construct a factory. Teradene made the following expenditures related to the acquisition of the land, building, and equipment for the factory: (FV of $1, P of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.): Purchase price of the land Demolition and removal of old building Clearing and grading the land before construction Various...
Costs incurred by Mills Company that relate to its property, plant, and equipment assets might be...
Costs incurred by Mills Company that relate to its property, plant, and equipment assets might be recorded in one of the five following accounts: a. an expense account b. Accumulated Depreciation c. Land d. Building e. Equipment Required: For each of the costs identified below, indicate the type of account in which the cost should be recorded by placing the appropriate letter in the space provided. ____ 25. The legal fees associated with the acquisition of land. ____ 26....
Skysong Supply Company, a newly formed corporation, incurred the following expenditures related to Land, to Buildings,...
Skysong Supply Company, a newly formed corporation, incurred the following expenditures related to Land, to Buildings, and to Machinery and Equipment. Abstract company’s fee for title search $598 Architect’s fees 3,646 Cash paid for land and dilapidated building thereon 100,050 Removal of old building $23,000 Less: Salvage 6,325 16,675 Interest on short-term loans during construction 8,510 Excavation before construction for basement 21,850 Machinery purchased (subject to 2% cash discount, which was not taken) 63,250 Freight on machinery purchased 1,541 Storage...
Question Completion Status: RE Cost of land Attorney's fee, land acquisition Architect's fee, building design Accrued Taxes on Land 300,000 15,000 35,000 2.500 975,000 Construction cost of Building Annual Salary of staff who supervised the construction of the building for six months 80,000 Interest charges on loan for building paid during construction 5.500 ewalk Closing costs on purchase of land (Title Insurance, Title search) Construction of Parking lot and sidewalk Interest paid after completion of building construction Cost of Electrical...
Listed below are costs (or discounts) to purchase or construct new plant assets. Indicate whether the costs should be expensed or capitalized (included in the cost of the plant assets on the balance sheet.) For costs that should be, indicate in which category of plant assets (Equipment, Building, or Land) the related costs should be recorded on the balance sheet. Category Event List 1 Costs to install needed electrical lines in a new building 2. Costs to build a base...
Identify each of the following expenditures as chargeable to Land, Land Improvements, Buildings, Machinery and Equipment, or other account. 1. Cost of paving parking area for employees and customers. 2. Insurance during construction of building. . Interest incurred on loan during construction of building. 4. Fee paid for installation of equipment. 5. Special foundation for new equipment acquired. 6. Insurance on new equipment while in transit. 7. Freight charges on new equipment. 8. Cost of repairing vandalism damage to equipment...
TBSFC00191 1. TBSFC00191 Classification Situation Gear Inc. recently invested in several plant assets including: land for building site, the building, special equipment to be used in the firm's manufacturing operations, and a delivery vehicle. The first column below lists the related expenditures. In the second column, indicate the appropriate account to be debited for the expenditures by clicking on the related cell in that column and selecting from the options provided in the popup list. Items may be used more...
Terrabyte Corporation purchased land as a factory site and contracted with Mordor Construction to construct a factory. Terrabyte made the following expenditures related to the acquisition of the land, building, and equipment to equip the factory: Purchase price of the land Demolition and removal of old building Clearing and grading the land before construction Various closing costs in connection with acquiring the land Architect's fee for the plans for the new building Payments to Mordor for building construction Equipment purchased...
Question 1 Cobalt Manufacturing purchased equipment and a delivery vehicle on January 1, 2019. The equipment cost $65,000 and has an estimated useful life of 8 years with a residual value of $9,000 The delivery vehicle cost $150,000 and has an estimated life of 4 years or 200,000 kilometres and a residual value of $14,000. The delivery truck is expected to be driven 35,000 and 40,000 kilometres in 2019 and 2020, respectively. Required 1. Cobalt has decided to depreciate the...
Teradene Corporation purchased land as a factory site and contracted with Maxtor Construction to construct a factory. Teradene made the following expenditures related to the acquisition of the land, building, and equipment for the factory: (FV of $1, P of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.): Purchase price of the land Demolition and removal of old building Clearing and grading the land before construction Various...
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