Homework Answers
| Answer | |
|
Cost of land |
|
| Cash paid | $ 84,000 |
| Net cost of removing warehouse ($9,000 – $1,860) | $ 7,140 |
| Attorney's fee | $ 1,360 |
| Real estate broker's fee | $ 4,900 |
| Total | $ 97,400 |
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Exercise 9-03 a x Your answer is incorrect. Try again. On March 1, 2022, Sunland Company...
Exercise 9-03 a * Your answer is incorrect. Try again. On March 1, 2022, Sunland Company...
Exercise 9-03 a * Your answer is incorrect. Try again. On March 1, 2022, Sunland Company acquired real estate, on which it planned to construct a small office building, by paying $84,000 in cash. An old warehouse on the property was demolished at a cost of $9,000; the salvaged materials were sold for $1,860. Additional expenditures before construction began included $1,360 attorney's fee for work concerning the land purchase, $4,900 real estate broker's fee, $8,860 architect's fee, and $14,800 to...
On March 1, 2017, Blossom Company acquired real estate, on which it planned to construct a...
On March 1, 2017, Blossom Company acquired real estate, on which it planned to construct a small office building, by paying $75,000 in cash. An old warehouse on the property was demolished at a cost of $7,200; the salvaged materials were sold for $1,500. Additional expenditures before construction began included $1,000 attorney's fee for work concerning the land purchase, $4,000 real estate broker's fee, $8,500 architect's fee, and $13,000 to put in driveways and a parking lot. (a) Determine the...
Your a wer is incorrect. Try again On March 1, 2022, Sheridan Company red real estate...
Your a wer is incorrect. Try again On March 1, 2022, Sheridan Company red real estate on which is planned to construct a small office building, by paying $70,000 in cash. An old warehouse on the property was demanda com o 7.000 the wavaged materials were sold for $1.620. Additional expenditures before cont o began included 51.920 attorney's fee for work concerning the and purchase, 14,300 real estate brokersfee, ,620 architect's fees and 13,500 in driveway and a parking ()...
What costs are land? instructure.com/course/9534/sognment/129361 Show Attempt History Current Attempt in Progress X Your answer is...
What costs are land?
instructure.com/course/9534/sognment/129361 Show Attempt History Current Attempt in Progress X Your answer is incorrect On March 1, 2017, Blossom Company acquired real estate on which it planned to construct a small office building by paving $75.000 in cash. An old warehouse on the property was demolished at a cost of $7.200, the salvaged materials were sold for $1.500. Additional expenditures before construction began included $1.000 attorney's fee for work concerning the land purchase 54,000 real estate brokersfee,...
On March 1, 2022, Blossom Company acquired real estate, on which it planned to construct a small office building, by pay...
On March 1, 2022, Blossom Company acquired real estate, on which it planned to construct a small office building, by paying $80,500 in cash. An old warehouse on the property was demolished at a cost of $8,300; the salvaged materials were sold for $1,720. Additional expenditures before construction began included $1,220 attorney’s fee for work concerning the land purchase, $4,550 real estate broker’s fee, $8,720 architect’s fee, and $14,100 to put in driveways and a parking lot. (a) Determine the...
On March 1, 2022, Wildhorse Co. acquired real estate, on which it planned to construct a...
On March 1, 2022, Wildhorse Co. acquired real estate, on which it planned to construct a small office building, by paying $85,500 in cash. An old warehouse on the property was demolished at a cost of $9,300; the salvaged materials were sold for $1,920. Additional expenditures before construction began included $1,420 attorney’s fee for work concerning the land purchase, $5,050 real estate broker’s fee, $8,920 architect’s fee, and $15,100 to put in driveways and a parking lot. . (a) Determine...
Exercise 1: On March 1, 2008, Penner Company acquired real estate on which it planned to...
Exercise 1: On March 1, 2008, Penner Company acquired real estate on which it planned to construct a small office building. The company paid $80,000 in cash. An old warehouse on the property was razed at a cost of $8,600; the salvaged materials were sold for $1.700. Additional expenditures before construction began included $1,100 attorney's fee for work concerning the land purchase, $5,000 real estate broker's fee, $7,800 architect's fee. Instruction: Compute and journalize the acquisition cost for the land....
Exercise 9-3 On March 1, 2015, Westmorlan Company acquired real estate on which it planned to...
Exercise 9-3 On March 1, 2015, Westmorlan Company acquired real estate on which it planned to construct a small office building. The company paid $92,210 in cash. An old warehouse on the property was razed at a cost of $9,010; the salvaged materials were sold for $1,750. Additional expenditures before construction began included $1,970 attorney’s fee for work concerning the land purchase, $5,190 real estate broker’s fee, $7,280 architect’s fee, and $13,120 to put in driveways and a parking lot....
On March 1, 2019, Cullumber Company acquired real estate on which it planned to construct a...
On March 1, 2019, Cullumber Company acquired real estate on which it planned to construct a small office building. The company paid $75,000 in cash. An old warehouse on the property was razed at a cost of $8,000; the salvaged materials were sold for $1,500. Additional expenditures before construction began included $1,000 attorney’s fee for work concerning the land purchase, $4,000 real estate broker’s fee, $7,000 architect’s fee, and $13,000 to put in driveways and a parking lot. (a) Determine...
1. Chapter 10: Revenue Expenditures vs Capital Expenditures gali A) DETERMINING COST OF PLANT ASSETS 1-...
1. Chapter 10: Revenue Expenditures vs Capital Expenditures gali A) DETERMINING COST OF PLANT ASSETS 1- Land Ex Assume that Hayes Company acquires real estate at a cash cost of $100,000. The property contains an old warehouse that is razed at a net cost of $6,000 ($7,500 in costs less $1,500 proceeds from salvaged materials). Additional expenditures are the attorney's fee, $1,000, and the real estate broker's commission, $8,000. 14 1235/42:37
Exercise 9-03 a * Your answer is incorrect. Try again. On March 1, 2022, Sunland Company acquired real estate, on which it planned to construct a small office building, by paying $84,000 in cash. An old warehouse on the property was demolished at a cost of $9,000; the salvaged materials were sold for $1,860. Additional expenditures before construction began included $1,360 attorney's fee for work concerning the land purchase, $4,900 real estate broker's fee, $8,860 architect's fee, and $14,800 to...
On March 1, 2017, Blossom Company acquired real estate, on which it planned to construct a small office building, by paying $75,000 in cash. An old warehouse on the property was demolished at a cost of $7,200; the salvaged materials were sold for $1,500. Additional expenditures before construction began included $1,000 attorney's fee for work concerning the land purchase, $4,000 real estate broker's fee, $8,500 architect's fee, and $13,000 to put in driveways and a parking lot. (a) Determine the...
Your a wer is incorrect. Try again On March 1, 2022, Sheridan Company red real estate on which is planned to construct a small office building, by paying $70,000 in cash. An old warehouse on the property was demanda com o 7.000 the wavaged materials were sold for $1.620. Additional expenditures before cont o began included 51.920 attorney's fee for work concerning the and purchase, 14,300 real estate brokersfee, ,620 architect's fees and 13,500 in driveway and a parking ()...
What costs are land?
instructure.com/course/9534/sognment/129361 Show Attempt History Current Attempt in Progress X Your answer is incorrect On March 1, 2017, Blossom Company acquired real estate on which it planned to construct a small office building by paving $75.000 in cash. An old warehouse on the property was demolished at a cost of $7.200, the salvaged materials were sold for $1.500. Additional expenditures before construction began included $1.000 attorney's fee for work concerning the land purchase 54,000 real estate brokersfee,...
Exercise 1: On March 1, 2008, Penner Company acquired real estate on which it planned to construct a small office building. The company paid $80,000 in cash. An old warehouse on the property was razed at a cost of $8,600; the salvaged materials were sold for $1.700. Additional expenditures before construction began included $1,100 attorney's fee for work concerning the land purchase, $5,000 real estate broker's fee, $7,800 architect's fee. Instruction: Compute and journalize the acquisition cost for the land....
1. Chapter 10: Revenue Expenditures vs Capital Expenditures gali A) DETERMINING COST OF PLANT ASSETS 1- Land Ex Assume that Hayes Company acquires real estate at a cash cost of $100,000. The property contains an old warehouse that is razed at a net cost of $6,000 ($7,500 in costs less $1,500 proceeds from salvaged materials). Additional expenditures are the attorney's fee, $1,000, and the real estate broker's commission, $8,000. 14 1235/42:37
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