Homework Answers
b. $1,480,320
The cost of the land that should be recorded by Wilson Co. is:
= $1,350,000 + $120,000 – $8,100 + $5,220 + $3,600 + $9,600
= $1,480,320
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Wilson Co. purchased land as a factory site for $1,350,000. Wilson paid $120,000...
Wilson Co. purchased land as a factory site for $1,350,000. Wilson paid $120,000 to tear down...
Wilson Co. purchased land as a factory site for $1,350,000. Wilson paid $120,000 to tear down two buildings on the land. Salvage was sold for $8,100. Legal fees of $5,220 were paid for title investigation and making the purchase. Architect's fees were $46,800. Title insurance cost $3,600, and liability insurance during construction cost $3,900. Excavation cost $15,660. The contractor was paid $4,200,000. An assessment made by the city for pavement was $9,600. Interest costs during construction were $255,000. The cost...
Crane Company purchased land as a factory site for $1315000. Crane paid $118000 to tear down...
Crane Company purchased land as a factory site for $1315000.
Crane paid $118000 to tear down two buildings on the land. Salvage
was sold for $8400. Legal fees of $5380 were paid for title
investigation and making the purchase. Architect's fees were
$46100. Title insurance cost $3900, and liability insurance during
construction cost $4200. Excavation cost $15540. The contractor was
paid $4400000. An assessment made by the city for pavement was
$9700. Interest costs during construction were $260000.
The cost...
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Will someone help with this? I also need to show all work Use the following to...
Will someone help with this? I also need to show all
work
Use the following to answer question 5: Wilson Co. purchased land as a factory site for $900,000. Wilson paid $80,000 to tear down two buildings on the land. Salvage was sold for $5,400. Legal fees of $3,480 were paid for title investigation and making the purchase. Architect's fees were $31,200. Title insurance cost $2,400, and liability insurance during construction cost $2,600. Excavation cost $10,440. The contractor was paid...
Sarasota Co. purchased land as a factory site for $600,000. The process of tearing down two...
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...
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...
Culver Co. purchased land as a factory site for $600,000. The process of tearing down two...
Culver 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. Culver paid $3,300 to an engineering firm for a land survey, and $102,000 for drawing the factory plans. The land survey...
Bonita Co. purchased land as a factory site for $512,000. The process of tearing down two...
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Crane Company purchased land as a factory site for $1315000.
Crane paid $118000 to tear down two buildings on the land. Salvage
was sold for $8400. Legal fees of $5380 were paid for title
investigation and making the purchase. Architect's fees were
$46100. Title insurance cost $3900, and liability insurance during
construction cost $4200. Excavation cost $15540. The contractor was
paid $4400000. An assessment made by the city for pavement was
$9700. Interest costs during construction were $260000.
The cost...
1,050,000 2,100,000 66 6796 Net purchases Net sales Percentage markup on cost A fire destroyed Barton's October 31 inventory, leaving undamaged inventory with a cost of $21,000. Using the gross profit method, the estimated ending inventory destroyed by fire is a. $119,000 b. $539,000. c. $560,000. d. $700,000. 15. Dicer uses the conventional retail method (the preferred approach) to determine its ending inventory at cost. Assume the beginning inventory at cost (retail) were $390,000 ($594,000), purchases during the current year...
Will someone help with this? I also need to show all
work
Use the following to answer question 5: Wilson Co. purchased land as a factory site for $900,000. Wilson paid $80,000 to tear down two buildings on the land. Salvage was sold for $5,400. Legal fees of $3,480 were paid for title investigation and making the purchase. Architect's fees were $31,200. Title insurance cost $2,400, and liability insurance during construction cost $2,600. Excavation cost $10,440. The contractor was paid...
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...
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...
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