Homework Answers
| Requirement 1 | |||
| Land | Land Imorovements | Building | |
| Cash payment | $65,000 | ||
| Notes Payable | $2,50,000 | ||
| Delinquient property tax | $5,000 | ||
| Title Insurance | $4,000 | ||
| Cost to level land | $9,000 | ||
| Office Bilding cost | $4,00,000 | ||
| Fencing the property | $54,000 | ||
| Cost of sign board | $12,000 | ||
| Special lightning of grounds | $8,000 | ||
| Total | $3,33,000 | $74,000 | $4,00,000 |
| Requirement 2 | |||
| Lawson furniture will depreciate Land Imorovements and Buildings | |||
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E10-17 Deter Lawson Furnis payable. In add Determining the cost of assets Furniture purchased land, paying $65,000...
E9-17 Determining the cost of assets Lawson Furniture purchased land, paying $65,000 cash and signing a...
E9-17 Determining the cost of assets Lawson Furniture purchased land, paying $65,000 cash and signing a $250,000 notes payable. In addition, Lawson paid delinquent property tax of $5,000, title insurance costing $4,000, and $9,000 to level the land and remove an unwanted building. The company then constructed an office building at a cost of $400,000. It also paid $54,000 for a fence around the property, $12,000 for a sign near the entrance, and $8,000 for special lighting of the grounds.
Belvidere Systems purchased land, paying $60,000 cash as a down payment and signing a $100,000 note...
Belvidere Systems purchased land, paying $60,000 cash as a down payment and signing a $100,000 note payable for the balance. In addition, Belvidere Systems paid delinquent property tax of $3,000, tle insurance costing $3,500, and a $12,100 charge for leveling the land and removing an unwanted building. The company constructed of $900,000. It also paid $51,000 for a fence around the property, $12,000 for the company an office building on the land at a cost the company sign near the...
HW Score: 40 % , 4 ot 3 of 6 (2 complete) Score: 0 of 2...
HW Score: 40 % , 4 ot 3 of 6 (2 complete) Score: 0 of 2 pts hE9-17 (similar to) Assigned Media Question Help Belvidere Furniture purchased land, paying $70,000 cash and signing a $320,000 note payable. In addition, Belvidere paid delinquent property tax of $4,000, title insurance costing $3,000, and $7,000 to level the land and remove an unwanted building. The company then constructed an office building at a cost of $600,000. also paid $51,000 for a fence around...
S9-1 Determining the cost of an asset Highland Clothing purchased land, paying $96,000 cash and signing...
S9-1 Determining the cost of an asset Highland Clothing purchased land, paying $96,000 cash and signing a $300.000 payable. In addition, Highland paid delinquent property tax of $1,100, title in costing $600, and $4,600 to level the land and remove an unwanted building the journal entry for purchase of the land.
1). Alpine Clothing purchased land, paying $110,000 cash and signing a $210,000 note payable. In addition,...
1).
Alpine Clothing purchased land, paying $110,000 cash and signing a $210,000 note payable. In addition, Alpine paid delinquent property tax of $1,700, title insurance costing $1,550, and $4,200 to level the land and remove an unwanted building. Record the journal entry for purchase of the land. Begin by determining the cost of the land. Purchase price of land Add related costs: Total cost of land
1. set up collumns for land land improvements building and furniture show how to account for...
1.
set up collumns for land land improvements building and furniture
show how to account for each cost by listing the cost under the
correct account determine the total cost of each asset
2. all construction was complete and the assets were placed in
service on october 1 record partial- year deprecation expence for
the year ended december 31 round to the nearest dollar
acquire land, make earning Objectives 1, 2 > Problems Group A P10-30A Determining asset cost and...
> Problems Group A bjectives 1, 2 P9-30A Determining asset cost and recording partial-year depreciation Park and...
> Problems Group A bjectives 1, 2 P9-30A Determining asset cost and recording partial-year depreciation Park and Fly, near an airport, incurred the following costs to acquire land, make land improvements, and construct and furnish a small building: Bldg. 5446,100 a. Purchase price of three acres of land b. Delinquent real estate taxes on the land to be paid by Park and Fly C. Additional dirt and earthmoving d. Title insurance on the land acquisition e. Fence around the boundary...
Determining asset cost and recording full-year depreciation Road Runner High-Speed Online, Inc. incurred the following costs...
Determining asset cost and recording full-year depreciation Road Runner High-Speed Online, Inc. incurred the following costs in acquiring it's property and equipment: A. $250,000 - Purchase price of four acres of land, including an old building that will be used for a garage (75% to land and 25% to building). B. $8,100 - Dirt and leveling of land. C. $17,650 - Fence around the land. D. $600 - Attorney fee for title search on the land. E. $5,900 - Delinquent...
PLEASE HELP! Determining Cost of Land On-Time Delivery Company acquired an adiacent lot to construct a...
PLEASE HELP!
Determining Cost of Land On-Time Delivery Company acquired an adiacent lot to construct a new warehouse, paying $30,000 in cash and giving a short-term nate for $289.000. Legal fees paid were $1,765, delinquent taxes assumed were $10,700, and fees paid to remove an old building from the land were $17,800. Materials salvaged from the demolition of the building were sold for $4,800. A contractor was paid $969,800 to construct a new warehouse. Determine the cost of the land...
Please answer the multiple choice questions, no work needed MULTIPLE CHOICE PLEASE CIRCLE YOUR ANSWER DONor...
Please answer the multiple choice questions, no work needed
MULTIPLE CHOICE PLEASE CIRCLE YOUR ANSWER DONor wRITE YOUR ANSWER IN THE MARGIN On January 1,2015, the Accounts Receivable of Linda Company had a debit balance of 51 January, the company provided services for $600,.000 on account. The company collected $230,000 tr t. $150.000 Daring customers on account in January. What was the ending balance in the Accounts Receivable of January?o A. $370,000 debit B $7,000 debit C. $520,000 debit D....
E9-17 Determining the cost of assets Lawson Furniture purchased land, paying $65,000 cash and signing a $250,000 notes payable. In addition, Lawson paid delinquent property tax of $5,000, title insurance costing $4,000, and $9,000 to level the land and remove an unwanted building. The company then constructed an office building at a cost of $400,000. It also paid $54,000 for a fence around the property, $12,000 for a sign near the entrance, and $8,000 for special lighting of the grounds.
Belvidere Systems purchased land, paying $60,000 cash as a down payment and signing a $100,000 note payable for the balance. In addition, Belvidere Systems paid delinquent property tax of $3,000, tle insurance costing $3,500, and a $12,100 charge for leveling the land and removing an unwanted building. The company constructed of $900,000. It also paid $51,000 for a fence around the property, $12,000 for the company an office building on the land at a cost the company sign near the...
HW Score: 40 % , 4 ot 3 of 6 (2 complete) Score: 0 of 2 pts hE9-17 (similar to) Assigned Media Question Help Belvidere Furniture purchased land, paying $70,000 cash and signing a $320,000 note payable. In addition, Belvidere paid delinquent property tax of $4,000, title insurance costing $3,000, and $7,000 to level the land and remove an unwanted building. The company then constructed an office building at a cost of $600,000. also paid $51,000 for a fence around...
S9-1 Determining the cost of an asset Highland Clothing purchased land, paying $96,000 cash and signing a $300.000 payable. In addition, Highland paid delinquent property tax of $1,100, title in costing $600, and $4,600 to level the land and remove an unwanted building the journal entry for purchase of the land.
1).
Alpine Clothing purchased land, paying $110,000 cash and signing a $210,000 note payable. In addition, Alpine paid delinquent property tax of $1,700, title insurance costing $1,550, and $4,200 to level the land and remove an unwanted building. Record the journal entry for purchase of the land. Begin by determining the cost of the land. Purchase price of land Add related costs: Total cost of land
1.
set up collumns for land land improvements building and furniture
show how to account for each cost by listing the cost under the
correct account determine the total cost of each asset
2. all construction was complete and the assets were placed in
service on october 1 record partial- year deprecation expence for
the year ended december 31 round to the nearest dollar
acquire land, make earning Objectives 1, 2 > Problems Group A P10-30A Determining asset cost and...
> Problems Group A bjectives 1, 2 P9-30A Determining asset cost and recording partial-year depreciation Park and Fly, near an airport, incurred the following costs to acquire land, make land improvements, and construct and furnish a small building: Bldg. 5446,100 a. Purchase price of three acres of land b. Delinquent real estate taxes on the land to be paid by Park and Fly C. Additional dirt and earthmoving d. Title insurance on the land acquisition e. Fence around the boundary...
PLEASE HELP!
Determining Cost of Land On-Time Delivery Company acquired an adiacent lot to construct a new warehouse, paying $30,000 in cash and giving a short-term nate for $289.000. Legal fees paid were $1,765, delinquent taxes assumed were $10,700, and fees paid to remove an old building from the land were $17,800. Materials salvaged from the demolition of the building were sold for $4,800. A contractor was paid $969,800 to construct a new warehouse. Determine the cost of the land...
Please answer the multiple choice questions, no work needed
MULTIPLE CHOICE PLEASE CIRCLE YOUR ANSWER DONor wRITE YOUR ANSWER IN THE MARGIN On January 1,2015, the Accounts Receivable of Linda Company had a debit balance of 51 January, the company provided services for $600,.000 on account. The company collected $230,000 tr t. $150.000 Daring customers on account in January. What was the ending balance in the Accounts Receivable of January?o A. $370,000 debit B $7,000 debit C. $520,000 debit D....
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