List out the items and amounts that should be included

Assignment Help Financial Accounting
Reference no: EM13136840

Delong Corporation purchased land adjacent to its plant to improve access for trucks making deliveries. Expenditures incurred in purchasing the land were as follows: purchase price $50,000; broker's fee $6,000; title search and other fees $5,000; demoition of an old building on the property, $5,700 grading, $1,200; digging foundation for the road, $3,000; laying and paving driveway, $25,000; lighting $7,500; signs $1,500. list the items and amounts that should be included in the land account

Reference no: EM13136840

Questions Cloud

Ntroduction paragraph for a paper entitled what is research : an introduction paragraph for a paper entitled "What is Research
Select either the balance sheet or income statement : Using the same concept selected above, discuss how a business manager may benefit from an understanding of this statement.
Find the atomic weight of this metal : The density of an unknown metal is 8.94 g/cm^3 and its atomic radius is 0.126 nm. It has a face-centered cubic lattice. Find the atomic weight of this metal.?
Analyse the articles with reference to theory : Analyse the articles with reference to theory covered in class and highlight links with the theory. You may need to do additional research to understand certain terms in the articles.
List out the items and amounts that should be included : digging foundation for the road, $3,000; laying and paving driveway, $25,000; lighting $7,500; signs $1,500. list out the items and amounts that should be included in the land account
Strategic planning : Strategic planning is an essential element of anticipating the future HR needs of an organisation. Use an appropriate model that provides framework for the analyse the external environment of your state or territory
Evaluate the amount of goodwill : Evaluate the amount of goodwill or others intangible assets derived from the transaction and explain whether you support that this value was created as a result of the business combination.
Describes gasb requirements for accounting : describes GASB requirements for accounting for Investment Trust Funds. Include a discussion of when the use of investment trust funds is appropriate;the investments to be included and excluded; the basis at which investments are to be reported;rep..
What is the mass in grams of the lead : The density of lead is 11.3 g/mL. The water level in a graduated cylinder initially at 216  mL  rises to 292 mL after a piece of lead is submerged. What is the mass in grams of the lead?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Prepare an income statement for the year

Prepare an income statement for the year ended 31 st December, 20X8, by using direct costing. Prepare an income statement for the year ended 31 st December, 20X8, by using absorption costing.

  Determine the amount of gross profit

Determine the amount of gross profit to be recognized in each of the three years. Prepare all required journal entries for each of the years (credit "Various accounts" for construction costs incurred). Purpose a partial balance sheet for 2009 a..

  Determine basic earnings per share for the year

Evaluate the number of shares used to determine basic earnings per share for the year ended December 31, 2013.

  What is the monthly break -even point in units

What is the monthly break -even point in units? How many units must be sold each month to make a monthly profit of $14000?

  Actual sales values at split-off point

If selling prices of finished products Y and Z remain constant, percentage of joint costs allocated to product Y and product Z would

  Create he journal entry to record the purchase of treasury

Create he journal entry to record the purchase of treasury stock by the cost method. 5,000 shares of treasury stock are reissued at $33 per share. Prepare the journal entry to record the reissuance by the cost method.

  Explain three commonly used performance measures

Key concepts for include the delegation of decision making and measuring performance of investment centers. Most large organizations are decentralized into divisions and other sizable subunits or investment centers. Explain three commonly used per..

  Illustrate what is the term differential used to indicate

Explain why consolidated financial statements become increasingly important when the purchase differential is very large. Illustrate w hat is the term differential used to indicate?

  Combined income statement for 2010

Evaluate should be eliminated from cost of goods sold in the combined income statement for 20x0 and By what amount was unadjusted revenue overstated in the combined income statement for 20x0

  Preparation of cash flows statement

Preparation of Cash Flows Statement in Indirect method - Purpose a statement of cash flows, using the indirect method of presenting cash flows from operating activities.

  What are janet and herman realized and recognized gains

exchange for his half-interest in their home with a total value of $150,000 and a basis of $130,000. What are Janet and Herman’s realized and recognized gains or losses on this exchange?

  Evaluate the cost and market value

Since you still own General Motors and General Electric, could these be reclassified to long-term securities?

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