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Lexington Self Storage purchased land, paying $125,000 cash as a down payment and signing a $140,000 note payable for the balance. Lexington also had to pay delinquent property tax of $2,500, title insurance costing $5,500, and $18,000 to level the land and remove an unwanted building. The company paid $54,000 to add soil for the foundation and then constructed an office building at a cost of $970,000. It also paid $36,000 for a fence around the property, $11,000 for the company sign near the property entrance, and $4,000 for lighting of the grounds. What is the capitalized cost of each of Lexington's land, land improvements, and building?
marketing is a decentralized firm specializing in designing and operating internet marketing web sites. the firm is
1. if improvement in a performance measure on a balanced scorecard should lead to improvement in another performance
Distinguish between the two categories of adjusting entries, and identify the types of adjustments applicable to each category.
a. How much gain does Kyle recognize on his exchange? What is the basis to Kyle of his 1,000 shares? b. How much gain does Bob recognize on his exchange? What is the basis to Bob of his 100 shares?
Which of the following business has the burden of unlimited liability?
assume that on september 1 office depot had an inventory that included a variety of calculators. the company uses a
acme road repair contracted with one of their clients to provide miscellaneous road repairs for 75000 acme has incurred
assume that denis savard inc. has the following accounts at the end of the current year.1.common stock14.accumulated
cypress oil companys december 31 2013 balance sheet listed 645000 of notes receivable and 16000 of interest receivable
Calculate the total current assets at December 31, 2010 and calculate the total liabilities and owners' equity at December 31, 2010.
tooltime has a standard of 1.5 pounds of materials per unit at 2 per pound. in producing 2000 units tooltime used 3100
land enterprises has purchased new equipment on a long-termpayment plan. the contract calls for land to pay 50000 at
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