Determine the amounts that should be debited to land

Assignment Help Microeconomics
Reference no: EM131092661

Allegro Supply Company, a newly formed corporation, incurred the following expenditures related to Land, to Buildings, and to Machinery and Equipment.

Abstract company's fee for title search

608

Architect's fees

3,709

Cash paid for land and dilapidated building thereon

107,640

Removal of old building

23,400

Less: Salvage

6,435

16,965

Interest on short-term loans during construction

8,658


Excavation before construction for basement

22,230


Machinery purchased (subject to 2% cash discount, which was not taken

76,050


Freight on machinery purchased

1,568


Storage charges on machinery, necessitated by noncompletion of building when machinery was delivered

2,551


New building constructed (building construction took 6 months from date of purchase of land and old building)

567,450


Assessment by city for drainage project

1,872


Hauling charges for delivery of machinery from storage to new building

725


Installation of machinery

2,340


Trees, shrubs, and other landscaping after completion of building (permanent in nature)

6,318


Determine the amounts that should be debited to Land, to Buildings, and to Machinery and Equipment. Assume the benefits of capitalizing interest during construction exceed the cost of implementation.

Reference no: EM131092661

Questions Cloud

Break even point ultimate : Clam Restaurant offers two types of all-you- can eat options: regular and ultimate. Ultimate provides more choices than the regular menu. The restaurant incurs fixed costs of $9,000 per month. Its planned sales mix in units is 33% regular and 67% ult..
Contains three components from supplier : A bin contains three components from supplier A, four from supplier B, and five from supplier C. If four of the components are randomly selected for testing, what is the probability that each supplier would have at least one component tested?
Calculate the thermal efficiency of the plant : calculate the thermal efficiency of the plant.
Develop the production plan for borders manufacturing : Production for each month equals one-half of the current month's sales plus one-half of the next month's projected sales. Develop the production plan for Borders Manufacturing for the upcomingyear.
Determine the amounts that should be debited to land : Determine the amounts that should be debited to Land, to Buildings, and to Machinery and Equipment. Assume the benefits of capitalizing interest during construction exceed the cost of implementation.
Smith and ricardo views of trade : In no more than four sentences, describe how Smith's and Ricardo's views of trade are similar and different. Be sure to highlight and give a short definition for any key terms you use as part of your explanation.
Identifyone issue within the concepts of health literacy : Identifyone issue within the concepts of health literacy and cultural awareness. Also, explain the differences between health literacy and cultural awareness. (Demonstrate how these might lead you to a different type of awareness.)
Determine the inner surface temperature of the plate : Disregarding any heat loss through the upper part of the iron and taking the nodal spacing to be 0.2 cm,
Chosen topic fits into the field of psychology : Prompt: Analyze the scholarly debate on the theory and research related to your research questions or intervention. The literature review should not be a collection of summaries.

Reviews

Write a Review

Microeconomics Questions & Answers

  An explanation about marshallian money graph

An explanation about Marshallian money graph. Consider the case of two goods: Marshallian money y and good x. Let y be the numeraire good, so the price of y is py = 1. Let Px denote the price of good x. The initial endowment of money is M. And..

  The marginal utility of the last audio book he purchased

Presume Barry is maximizing his utility from consuming utilized paperback novels and audio books. The price of a used novel is $19 and the price of an audio book is $3. If the marginal utility of the last novel was 195 units, what was the marginal ut..

  Household behaviour on the overall volume of bank lending

Suppose that households in the US switched some of their wealth out of their checking accounts and into short term bank CD's. If banks use all excess reserves to support increased lending, what is the effect on this household behaviour on the overall..

  Economic activity on both a global and domestic scale

With regards to the changes within the economic structure, how do politics and government regulation factor into the changes we see to economic activity on both a global and domestic scale? What actions have either helped or hindered our progress?

  Identify what country should trade and import

The factor-endowment theory suggests you should trade in the products that you can make from the production factors and resources you naturally possess. Depending on the country in which you live, identify in what your country should trade and wha..

  Describe what can be done about monopolies

The goal of all capitalists is to dismiss the competition and gain market power. a) Explain why that might be hurtful for the economy, though not for everybody, clearly stating who wins and who loses in the presence of monopolies.

  A city is planning to bid to host a sports event

A city is planning to bid to host a sports event. It believed the demand curve for the event in its city is P = 1,000 - Q and the marginal cost would be constant at $200. The sports organization that is soliciting bids from potential host cities requ..

  Explain oligopoly and perfect competition market structures

Explain oligopoly and perfect competition market structures, and identify the key factors that distinguish them

  Assume prices and budgeted dollars are unchangeable

Assume that Bob is only purchasing two products G and W. The market price of G is $25 and of W is $20. By spending all of his budgeted amount on these two items, he is maximizing utility and receiving 100 utilities from the last unit of G and 80 util..

  Write on profit in excess of both implicit and explicit cost

The first question is about profits in excess of both implicit and explicit costs and the second question is about marginal revenue being greater than average variable cost and marginal revenue being greater than marginal cost.

  Price elasticity of demand for cigarettes

According to studies undertaken by the US Department of Agriculture, the price elasticity of demand for cigarettes is between - 0.3 and - 0.4 and the income elasticity is about + 0.5.

  What monetary policies and fiscal policies were implemented

What monetary policies and fiscal policies were implemented during the recession?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd