User Account

All Pages

Determine the cost of land to be reported on balance sheet

Assignment Help Accounting Basics
Reference no: EM132709472

Problem - Determine cost of land - Four Corners Delivery Company acquired an adjacent lot to construct a new warehouse, paying $200,000 and giving a short-term note for $375,000. Legal fees paid were $6,000, delinquent taxes assumed were $4,100, and fees paid to remove an old building from the land were $15,500. Materials salvaged from the demolition of the building were sold for $2,600. A contractor was paid $900,000 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet.

Reference no: EM132709472

Questions Cloud

Explain the purpose of the questionnaire : Find an existing scale used in research studies. One way to find questionnaires is to use Google Scholar and the terms "scale" and a topic of interest such as.
What is the amount of the annual depreciation : An estimated residual value of $15,000, and an estimated useful life of 20 years. What is the amount of the annual depreciation computed by straight-line method
Five functions of managers : Watch The Five Functions of Managers video on the five management functions of planning, organizing, staffing, leading, and controlling resources
Understand cross-cultural communication : Why is it important to understand cross-cultural communication? Give some examples of the differences in communication between Chinese and Americans.
Determine the cost of land to be reported on balance sheet : A contractor was paid $900,000 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet
What makes a good leader : What makes a good leader? Compare/contrast trait, behavioral, and contingency theories in your response.
Difference between continuous and discrete variables : What is the difference between continuous and discrete variables? What is a measure of central tendency?
Explain treatment barriers involved with treatment : Describe one of the three categories covered in this unit, as well as each associated diagnosis. Be sure to discuss symptomology, etiology, epidemiology.
Is this a capital expenditure or a revenue expenditure : A new motor is installed and the tires are replaced at a total cost of $4,300. Is this a capital expenditure or a revenue expenditure

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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