A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was a...
A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000; the land at $35,000, and the parking lot at $18,000. Land should be recorded in the accounting records with an allocated cost of:
$35,000.
$0.
$30,435.
$46,087.
$100,000.
Homework Answers
Total appraisal cost
= 62,000 + 35,000 + 18,000
= 115,000
Cost allocated to land
= (35,000/115,000)*100,000
= 30,435
Option C is the answer
Add Answer to:
A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was a...
A company purchased property for $100,000. The property included a building, a parking lot, and land....
A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000, the land was appraised at $35,000, and the parking lot was appraised at $18,000. How much should the land be recorded in accounting revenue?
A company purchased property for $100,000. The property included a building, a parking lot, and land....
A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $61.000; the land at $45,800, and the parking lot at $18,200. Land should be recorded in the accounting records with an allocated cost of Multiple Choice $42,640 $45,800. $100,000. $0 $36,640.
A company purchased property for $100,000. The property included a building, a parking lot, and land....
A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $53,000; the land at $52,200, and the parking lot at $19,800. Land should be recorded in the accounting records with an allocated cost of
A company purchased property for $100,000. The property included a building, a parking lot, and land....
A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $54,500; the land at $51,000, and the parking lot at $19,500. Land should be recorded in the accounting records with an allocated cost of:
Help Save & Exit Sub A company purchased property for $100,000. The property included a building, a parking lot...
Help Save & Exit Sub A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $60,000, the land at $46,600, and the parking lot at $18,400. Land should be recorded in the accounting records with an allocated cost of Multiple Choice Ο 46,6oo. Ο Ο Ο Ο '
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A company purchased property for $100,000. The property included a building, equipment and land. The building was appraised at $62,000, the land at $45,000, and the equipment at $18,000 for a total appraised value of $125,000. What is the amount of cost to be allocated to the building in the accounting records? $0 $49,600 $62,000 $100,000 A company purchased office equipment for $24,500 and paid $1,470 in sales tax, $550 for installation, $3,200 for a needed adjustment to the equipment,...
Name: 5) A company paid $1 54,000 for a property. The property included land appraised at...
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A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $61.000; the land at $45,800, and the parking lot at $18,200. Land should be recorded in the accounting records with an allocated cost of Multiple Choice $42,640 $45,800. $100,000. $0 $36,640.
Help Save & Exit Sub A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $60,000, the land at $46,600, and the parking lot at $18,400. Land should be recorded in the accounting records with an allocated cost of Multiple Choice Ο 46,6oo. Ο Ο Ο Ο '
Which answer is correct?
A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $53,500; the land at $51,800, and the parking lot at $19,700. Land should be recorded in the accounting records with an allocated cost of: Multiple Choice o $100,000. o $41,440. o $51,800. o $0. o $47,440.
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