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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?
Prepare a journal entry to account for the payment to the retiring partner including bonus to or from the remaining partners. Include a narration.
consider net capital expenditures as the total amount of cash spent on obtaining capitalizable non-current assets minus
utilizing a public policy of your choice from a local government where you reside prepare a paper assessing that
the following information is available for murphy companyallowance for doubtful accounts at december 31 2009 8000credit
Assuming that the enacted tax rate is 30% in both 2010 and 2011 and that krause paid 780,000 in income taxes in 2010, the amount reported as the net deferred incoem taxes on krauses balance sheet at dec 31 2010 should be:
Ringler Corporation exchanges one plant asset for a similar plant asset and gives cash in the exchange. The exchange is not expected to cause a material change in the future cash flows for either entity. If a gain on the disposal of the old asset ..
problem 1 during 2012 nova inc. made several treasury stock transactions. for each of the following give the entrys
1.custom shoes co. has gathered the following information concerning one model of shoes variable manufacturing costs
discuss the factors that acompany must consider when deciding whether to use a job order or a process cost system. what
diego company manufactures one product that is sold for 80 per unit in two geographic regionsthe east and west regions.
Rights, privileges, and competitive advantages that result from the ownership of long-lived assets that do not possess physical substance.
precision engineering invested 110000 at 6.5 percent interest compounded annually for 4 years. how much interest on
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