Homework Answers
Cost of land = Value of land + Raze of old building + Legal fees paid + Insurance on property - Sale of lumber and bricks
= $576000 + 60480 + 2664 + 2160 - 9072
= $632232
Cost of building = Cost of construction + Factory drawing + Insurance of liability + Engineer fees + Interest
= $3945600 + 97920 + 1296 + 3168 + 224800
= $4272784
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Exercise 10-02 Sheridan Co. purchased land as a factory site for $576,000. The process of tearing...
Exercise 10-02 Sheridan Co. purchased land as a factory site for $576,000. The process of tearing...
Exercise 10-02 Sheridan Co. purchased land as a factory site for $576,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $60,480 to raze the old buildings and sold salvaged lumber and brick for $9,072. Legal fees of $2,664 were paid for title investigation and drawing the purchase contract. Sheridan paid $3,168 to an engineering firm for a land survey, and $97,920 for drawing the factory plans. The...
Exercise 10-02 Martinez Co. purchased land as a factory site for $496,000. The process of tearing...
Exercise 10-02 Martinez Co. purchased land as a factory site for $496,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $52,080 to raze the old buildings and sold salvaged lumber and brick for $7,812. Legal fees of $2,294 were paid for title investigation and drawing the purchase contract. Martinez paid $2,728 to an engineering firm for a land survey, and $84,320 for drawing the factory plans. The...
Bonita Co. purchased land as a factory site for $512,000. The process of tearing down two...
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...
Exercise 10-2 Crane Co. purchased land as a factory site for $416,000. The process of tearing...
Exercise 10-2 Crane Co. purchased land as a factory site for $416,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $43,680 to raze the old buildings and sold salvaged lumber and brick for $6,552. Legal fees of $1,924 were paid for title investigation and drawing the purchase contract. Crane paid $2,288 to an engineering firm for a land surv $70,720 for drawing the factory plans. The land...
Exercise 10-02 Pina Co. purchased land as a factory site for $552,000. The process of tearing...
Exercise 10-02
Pina Co. purchased land as a factory site for $552,000. The
process of tearing down two old buildings on the site and
constructing the factory required 6 months.
The company paid $57,960 to raze the old buildings and sold
salvaged lumber and brick for $8,694. Legal fees of $2,553 were
paid for title investigation and drawing the purchase contract.
Pina paid $3,036 to an engineering firm for a land survey, and
$93,840 for drawing the factory plans. The...
Cheyenne Co. purchased land as a factory site for $456,000. The process of tearing down two...
Cheyenne Co. purchased land as a factory site for $456,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $47,880 to raze the old buildings and sold salvaged lumber and brick for $7,182. Legal fees of $2,109 were paid for title investigation and drawing the purchase contract. Cheyenne paid $2,508 to an engineering firm for a land survey, and $77,520 for drawing the factory plans. The land survey...
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...
Coronado Co. purchased land as a factory site for $488,000. The process of tearing down two...
Coronado Co. purchased land as a factory site for $488,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $51,240 to raze the old buildings and sold salvaged lumber and brick for $7,686. Legal fees of $2,257 were paid for title investigation and drawing the purchase contract. Coronado paid $2,684 to an engineering firm for a land survey, and $82,960 for drawing the factory plans. The land survey...
Shamrock Co. purchased land as a factory site for $432,000. The process of tearing down two...
Shamrock Co. purchased land as a factory site for $432,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $45,360 to raze the old buildings and sold salvaged lumber and brick for $6,804. Legal fees of $1.998 were paid for title investigation and drawing the purchase contract. Shamrock paid $2,376 to an engineering firm for a land survey, and $73.440 for drawing the factory plans. The land survey...
Exercise 10-02 Sheridan Co. purchased land as a factory site for $576,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $60,480 to raze the old buildings and sold salvaged lumber and brick for $9,072. Legal fees of $2,664 were paid for title investigation and drawing the purchase contract. Sheridan paid $3,168 to an engineering firm for a land survey, and $97,920 for drawing the factory plans. The...
Exercise 10-02 Martinez Co. purchased land as a factory site for $496,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $52,080 to raze the old buildings and sold salvaged lumber and brick for $7,812. Legal fees of $2,294 were paid for title investigation and drawing the purchase contract. Martinez paid $2,728 to an engineering firm for a land survey, and $84,320 for drawing the factory plans. The...
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...
Exercise 10-2 Crane Co. purchased land as a factory site for $416,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $43,680 to raze the old buildings and sold salvaged lumber and brick for $6,552. Legal fees of $1,924 were paid for title investigation and drawing the purchase contract. Crane paid $2,288 to an engineering firm for a land surv $70,720 for drawing the factory plans. The land...
Exercise 10-02
Pina Co. purchased land as a factory site for $552,000. The
process of tearing down two old buildings on the site and
constructing the factory required 6 months.
The company paid $57,960 to raze the old buildings and sold
salvaged lumber and brick for $8,694. Legal fees of $2,553 were
paid for title investigation and drawing the purchase contract.
Pina paid $3,036 to an engineering firm for a land survey, and
$93,840 for drawing the factory plans. The...
Cheyenne Co. purchased land as a factory site for $456,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $47,880 to raze the old buildings and sold salvaged lumber and brick for $7,182. Legal fees of $2,109 were paid for title investigation and drawing the purchase contract. Cheyenne paid $2,508 to an engineering firm for a land survey, and $77,520 for drawing the factory plans. The land survey...
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...
Coronado Co. purchased land as a factory site for $488,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $51,240 to raze the old buildings and sold salvaged lumber and brick for $7,686. Legal fees of $2,257 were paid for title investigation and drawing the purchase contract. Coronado paid $2,684 to an engineering firm for a land survey, and $82,960 for drawing the factory plans. The land survey...
Shamrock Co. purchased land as a factory site for $432,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $45,360 to raze the old buildings and sold salvaged lumber and brick for $6,804. Legal fees of $1.998 were paid for title investigation and drawing the purchase contract. Shamrock paid $2,376 to an engineering firm for a land survey, and $73.440 for drawing the factory plans. The land survey...
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