Sparky, Co. purchased land as a factory site for $600,000. Sparky paid $42,000 to tear down...
Sparky, Co. purchased land as a factory site for $600,000. Sparky paid $42,000 to tear down an existing structure on the land and was able to salvage some of the building materials which were sold for $15,400. Legal fees of $5,880 were paid for title insurance on the land purchase. Architect's fees were $32,200. There was an assessment by the city for a drainage project that cost $6,400 that was necessary to keep the land from retaining water during the rainy season. Excavation costs totaled $30,440. The contractor was paid $3,200,000 for the construction of the factory. Liability insurance during construction cost $42,600. Interest costs during construction were $170,000.
The historical cost of the Land that should be reported by Sparky is: ___________________________
*When recording your answer, do not use any dollar signs or commas. For example, if your answer is $567,500, record your answer as 567500.
638880 is not the right answer
Homework Answers
Cost of Land
= Purchase price + Cost incurred to tear down the existing structure - Value of materials salvaged + Legal fees for title insurance + Cost incurred for assessment
= 600,000 + 42,000 - 15,400 + 5,880 + 6,400
= 638,880
Add Answer to:
Sparky, Co. purchased land as a factory site for $600,000.
Sparky paid $42,000 to tear down...
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...
Sheffield Corp. purchased land as a factory site for $1360000. Sheffield paid $116000 to tear down...
Sheffield Corp. purchased land as a factory site for $1360000. Sheffield paid $116000 to tear down two buildings on the land. Salvage was sold for $8500. Legal fees of $5400 were paid for title investigation and making the purchase. Architect's fees were $46300. Title insurance cost $3900, and liability insurance during construction cost $4200. Excavation cost $15540. The contractor was paid $4500000. An assessment made by the city for pavement was $9500. Interest costs during construction were $252000. 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...
please show solution Wilson Co. purchased land as a factory site for $1,350,000. Wilson paid $120,000...
please show solution
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...
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...
Part II (01m Section A: Cost of Land and Building y purchased land as a factory...
Part II (01m Section A: Cost of Land and Building y purchased land as a factory site for $900,000. Rams Company paid $80,000 to wo buildings on the land. Salvage was sold for $5,400. Legal fees of $3,500 were title investigation and making the purchase. Architect's fees were $31,200. Title e cost $2,400, and liability insurance during construction cost $2,600. Excavation cost S10 500. The contractor was paid $2,000,000. Interest costs capitalized during construction were $17,000. 1. The cost of...
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...
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...
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...
please show solution
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...
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...
Part II (01m Section A: Cost of Land and Building y purchased land as a factory site for $900,000. Rams Company paid $80,000 to wo buildings on the land. Salvage was sold for $5,400. Legal fees of $3,500 were title investigation and making the purchase. Architect's fees were $31,200. Title e cost $2,400, and liability insurance during construction cost $2,600. Excavation cost S10 500. The contractor was paid $2,000,000. Interest costs capitalized during construction were $17,000. 1. The cost of...
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...
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...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago