At December 31, 2016, certain accounts included in the property, plant, and equipment section of Carla...
At December 31, 2016, certain accounts included in the property, plant, and equipment section of Carla Company’s balance sheet had the following balances. Land $231,000 Buildings 890,300 Leasehold improvements 660,600 Equipment 881,000 During 2017, the following transactions occurred. 1. Land site number 621 was acquired for $851,500. In addition, to acquire the land Carla paid a $53,300 commission to a...
The following expenditures and receipts are related to land, land improvements, and buildings acquired for use...
The following expenditures and receipts are related to land, land improvements, and buildings acquired for use in a business enterprise. The receipts are enclosed in parentheses. (a) (b) (c) (d) (e) () () (h) Money borrowed to pay building contractor (signed a note) Payment for construction from note proceeds Cost of land fill and clearing Delinquent real estate taxes on...
Ⓡ a Search P2-3B Richardson Services Ltd. was formed on May 1, 2017. The following transactions...
Ⓡ a Search P2-3B Richardson Services Ltd. was formed on May 1, 2017. The following transactions took place during the first month. Transactions on May 1: 1. Shareholders invested £50,000 cash in exchange for ordinary shares. 2. Hired two employees to work in the warehouse. They will each be paid a salary of £2,800 per month. 3. Signed a 2-year...
d E9.2 (LO 1) Benedict Company incurred the following costs. $ 5,000 1. Sales tax on...
d E9.2 (LO 1) Benedict Company incurred the following costs. $ 5,000 1. Sales tax on factory machinery purchased 2. Painting of and lettering on truck immediately upon purchase 3. Installation and testing of factory machinery 700 oorardto 2,000 4. Real estate broker's commission on land purchased 3,500 5. Insurance premium paid for first year's insurance on new truck 880...
Ekea Company is building a warehouse which is no longer needed now. The warehouse is 90%...
Ekea Company is building a warehouse which is no longer needed now. The warehouse is 90% completed and can be sold for $90,000, which is the cost incurred on the warehouse to date. If it is sold, Ekea would have to pay the property agent a commission of 1% on sale and the buyer of the warehouse would have to...
Early in 2019, Desert, Co. finalized plans to expand operations. The first stage was completed on...
Early in 2019, Desert, Co. finalized plans to expand operations. The first stage was completed on January 19th with the purchase of a tract of land to be used as the location for their new office complex. The land and existing building were purchased for $800,000, paying cash. Title search, title insurance, back property taxes and other closing costs totaling...
Julie paid all costs related to the following transactions in cash. On April 1, 2013, Julie...
Julie paid all costs related to the following transactions in cash. On April 1, 2013, Julie purchased a second office building for $1.2 million. Julie estimates that the value of the land is $200,000 and the remaining amount that she paid represents the value of the building. In addition to the amount that Julie paid for the building, she also...
The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December...
The plant asset and accumulated depreciation accounts of Pell Corporation had the following balances at December 31, 2012: Plant Asset Accumulated Depreciation Land $ 350,000 $ 0 Land improvements 180,000 45,000 Building 1,500,000 350,000 Machinery and equipment 1,158,000 405,000 Automobiles 150,000 112,000 Transactions during 2013 were as follows: a. On January 2, 2013, machinery and equipment were purchased at a...
I need help figuring out the last 3 information. Early in 2019, Desert, Co. finalized plans...
I need help figuring out the last 3 information.
Early in 2019, Desert, Co. finalized plans to expand operations. The first stage was completed on January 19th with the purchase of a tract of land to be used as the location for their new office complex. The land and existing building were purchased for $800,000, paying cash. Title search, title...
1. Whispering Industries Inc. acquired land, buildings, and equipment from a bankrupt company, Torres Co., for...
1. Whispering Industries Inc. acquired land, buildings, and equipment from a bankrupt company, Torres Co., for a lump-sum price of $868,000. At the time of purchase, Torres’s assets had the following book and appraisal values. Book Values Appraisal Values Land $248,000 $186,000 Buildings 310,000 434,000 Equipment 372,000 372,000 To be conservative, the company decided to take the lower of the...
The following expenditures and receipts are related to land, land improvements, and buildings acquired for use in a business enterprise. The receipts are enclosed in parentheses. (a) (b) (c) (d) (e) () () (h) Money borrowed to pay building contractor (signed a note) Payment for construction from note proceeds Cost of land fill and clearing Delinquent real estate taxes on...
Ⓡ a Search P2-3B Richardson Services Ltd. was formed on May 1, 2017. The following transactions took place during the first month. Transactions on May 1: 1. Shareholders invested £50,000 cash in exchange for ordinary shares. 2. Hired two employees to work in the warehouse. They will each be paid a salary of £2,800 per month. 3. Signed a 2-year...
d E9.2 (LO 1) Benedict Company incurred the following costs. $ 5,000 1. Sales tax on factory machinery purchased 2. Painting of and lettering on truck immediately upon purchase 3. Installation and testing of factory machinery 700 oorardto 2,000 4. Real estate broker's commission on land purchased 3,500 5. Insurance premium paid for first year's insurance on new truck 880...
Early in 2019, Desert, Co. finalized plans to expand operations. The first stage was completed on January 19th with the purchase of a tract of land to be used as the location for their new office complex. The land and existing building were purchased for $800,000, paying cash. Title search, title insurance, back property taxes and other closing costs totaling...
I need help figuring out the last 3 information.
Early in 2019, Desert, Co. finalized plans to expand operations. The first stage was completed on January 19th with the purchase of a tract of land to be used as the location for their new office complex. The land and existing building were purchased for $800,000, paying cash. Title search, title...
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