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On February 2007, Reflection Corporation purchased a parcel of land as a factory site for $50,000. An old building on the property was demolished, and construction began on a new building which was completed on 1st November, 2007. Costs incurred during this period are listed below:
Demolition of old building $ 4,000
Architect's fees 10,000
Legal fees for title investigation and
Purchase contract 1,000
Construction costs 500,000
(Salvaged materials resulting from demolition were sold for $1,000)
Evaluate reflection should record the cost of the land and new building
Write a statement of cash flows for 2011 for Farmer Company
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ip ltd reports the subsequent intangible assetspatents at directors valuation 160 millionless accumulated amortisation
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Chris spends $800,000 to build a qualified low-income housing project, which is placed in service on January 1, 2005. He financed the project using his personal funds. What is the amount of the low-income housing credit that Chris may claim in 200..
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Determine the materials price variance (amount and favorable or unfavorable)? Evaluate materials quantity variance (amount and favorable or unfavorable)? Determine the labor rate variance (amount and favorable or unfavorable)?
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These shares were classified as a long-term available for sale investment. It sold the shares on 13th December for $42,100. Organize the journal entry to record this sale.
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