1. These expenditures were incurred by Pharoah Ltd. in purchasing land: cash price $407,700; legal fees...
1. These expenditures were incurred by Pharoah Ltd. in purchasing land: cash price $407,700; legal fees $8,580; removal of old building $24,710; cost of clearing and grading $6,190; installation of fence $3,050. What is the cost of the land?
| Cost of the land | $???? |
2. Sandhill Ltd. purchased a delivery truck on January 1, 2018, at a cost of $86,500. The truck is expected to have a residual value of $7,740 at the end of its 4-year useful life. Sandhill has a December 31 year end.
Calculate the depreciation using the straight-line method for each year of the truck’s life.
| Depreciation for each year | $????? |
Homework Answers
| Cash Price | $ 4,07,700 |
| Legal Fees | $ 8,580 |
| Removal of old building | $ 24,710 |
| Cost of clearing and grading | $ 6,190 |
| Cost of Land | $ 4,47,180 |
| Depreciation for each year =($86,500 - $7,740) / 4 Years =$19,690 | |
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1. These expenditures were incurred by Pharoah Ltd. in
purchasing land: cash price $407,700; legal fees...
Question A Question B These expenditures were incurred by Crane Company in purchasing land: cash price...
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These expenditures were incurred by Crane Company in purchasing land: cash price $58,430, assumed accrued taxes $5.410 attorney's fees $2.480, real estate broker's commission $3.320, and clearing and grading $4.440. What is the cost of the land? The cost of the land $ Sandhill Chemicals Company acquires a delivery truck at a cost of $30,800 on January 1, 2022. The truck is expected to have a salvage value of $3,700 at the end of its 4-year...
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Question 1
The following expenditures were incurred by Skysong AG in
purchasing land: cash price €81,200, accrued taxes €2,750,
attorneys’ fees €2,250, real estate broker’s commission €2,160, and
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Question 1 x Your answer is incorrect. Try again. Pharoah Ltd, Incurs these expenditures in purchasing a truck: invoice price $46.090; installation of a trailer hitch $940; one-year accident Insurance policy $896; motor vehicle licence $158; painting and lettering $700. What is the cost of the truck? Cost of the truck 48084 Question 4 Pharoah Ltd. purchased a delivery truck on May 1, 2018, at a cost of $81,720. The truck is expected to have a residual value of $8,080...
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Question 1 x Your answer is incorrect. Try again. Pharoah Ltd. incurs these expenditures in purchasing a truck: inv...
Question 1 x Your answer is incorrect. Try again. Pharoah Ltd. incurs these expenditures in purchasing a truck: invoice price $46,090; installation of a trailer hitch $940; one-year accident insurance policy $896; motor vehicle licence $158; painting and lettering $700. What is the cost of the truck? Cost of the truck 48084 48084
Question 4 Pharoah Ltd. purchased a delivery truck on May 1, 2018, at a cost of...
Question 4 Pharoah Ltd. purchased a delivery truck on May 1, 2018, at a cost of $81,720. The truck is expected to have a residual value of $8,080 at the end of its 4-year useful life. Pharoah has a December 31 year end. Calculate the depreciation expense using the diminishing-balance method for 2018 and 2019. Assume the depreciation rate is equal to one time the straight-line rate. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation expense 2018 13620 2019
Pharoah Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. Debit 1. Excavation costs for new building $18,000 2. Architect’s fees on building pla
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1) A company incurred the following costs: Purchase price of land Survey fees Payment for demolition of old building on land Back property taxes on land Paving costs for parking lot Fence around perimeter of land Lights in parking lot Signs for new business $270,000 4,000 20,000 2,000 60,000 15,000 90,000 5,000 What is the cost of the land? A) $270,000. B) $296,000. C) $356,000. D) $294,000. E) None of the above. 2) Equipment costing $40,000with a book value of...
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Question B
These expenditures were incurred by Crane Company in purchasing land: cash price $58,430, assumed accrued taxes $5.410 attorney's fees $2.480, real estate broker's commission $3.320, and clearing and grading $4.440. What is the cost of the land? The cost of the land $ Sandhill Chemicals Company acquires a delivery truck at a cost of $30,800 on January 1, 2022. The truck is expected to have a salvage value of $3,700 at the end of its 4-year...
Question 1
The following expenditures were incurred by Skysong AG in
purchasing land: cash price €81,200, accrued taxes €2,750,
attorneys’ fees €2,250, real estate broker’s commission €2,160, and
clearing and grading €3,170.
What is the cost of the land?
Cost of the land
€
Question 1 x Your answer is incorrect. Try again. Pharoah Ltd, Incurs these expenditures in purchasing a truck: invoice price $46.090; installation of a trailer hitch $940; one-year accident Insurance policy $896; motor vehicle licence $158; painting and lettering $700. What is the cost of the truck? Cost of the truck 48084 Question 4 Pharoah Ltd. purchased a delivery truck on May 1, 2018, at a cost of $81,720. The truck is expected to have a residual value of $8,080...
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