On july 1 2013 larkin co purchased a 430000 tract of land

Assignment Help Accounting Basics
Reference no: EM13594525

On July 1, 2013, Larkin Co. purchased a $430,000 tract of land that is intended to be the site of a new office complex. Larkin incurred additional costs and realized salvage proceeds during 2013 as follows          

   Demolition of existing building on site $72,000  
   Legal and other fees to close escrow 12,600  
   Proceeds from sale of demolition scrap 9,600  

What would be the balance in the land account as of December 31, 2013?

Reference no: EM13594525

Questions Cloud

Write the chemical equation for all the reactions both sn1 : a write the chemical equation for all the reactions both sn1 and sn2 involving primary and secondary substratesb rank
Find the magnetic force on the electron hint use -q instead : an electron charge -1.6 e-19 c is moving at 3.0 e 5 ms in the positive x direction. a magnetic field of 0.8 t is in
Sart with three carbons bound together -c-c-c- what : start with three carbons bound together -c-c-c-. what individual atoms or functional groups could you add to the
If the partial pressure of no is decreasing at the rate of : the reaction 2nog cl2g -------gt 2noclg is carried out in a closed container. if the partial pressure of no is
On july 1 2013 larkin co purchased a 430000 tract of land : on july 1 2013 larkin co. purchased a 430000 tract of land that is intended to be the site of a new office complex.
After finishing her first year of operations nicole used : after finishing her first year of operations nicole used the debt-to-assets asset turnover and net profit margin ratios
Calculate the mass of vapour present in a room of volume : calculate the mass of vapour present in a room of volume 250 meter cube that contains air at a temperature of 23
A thermodynamic study of dycl3 determined its standard : a thermodynamic study of dycl3 determined its standard enthalpy of formation from the following information. determine
An x-ray beam of a certain wavelength is incident on a : question an x-ray beam of a certain wavelength is incident on a crystal at 31.3deg to a certain family of reflecting

Reviews

Write a Review

Accounting Basics Questions & Answers

  Sykes corp factors 100000 of accounts receivable with ktt

sykes corp. factors 100000 of accounts receivable with ktt finance corporation on a without recourse basis on july 1

  Benson company is considering the replacement of a machine

benson company is considering the replacement of a machine that is presently used in production. the following data are

  Accounting treatment for purchase of heat exchanger

What is the correct accounting treatment for the purchase of a heat exchanger?

  Prepare the bank reconciliation statement

Prepare the bank reconciliation statement from the following information. Bank overdraft as per Bank Statement Rs. 4500.

  What is the total cash paid to the preferred stockholders

Assume that Corporation X has 20,000 shares of $10 par value cumulative 6% preferred stock and 5,000 shares of common stock outstanding. No dividends were paid in 2009 and 2010. In 2011, the board of directors declares dividends of $50,000. What i..

  Mcbean company has outstanding 11 million shares of 1 par

mcbean company has outstanding 11 million shares of 1 par value common stock and 1.1 million shares of 3 par value

  On november 1 year 1 noble co borrowed 80000 from south

on november 1 year 1 noble co borrowed 80000 from south bank and signed a 12 six month note payable all due at

  Minor inc had revenue of 572000 and expenses of 282000 for

minor inc. had revenue of 572000 and expenses of 282000 for the current year. the company is subject to a 35 percent

  Unadjusted interest expense account

The long-term note payable bears interest at 12% per year. The unadjusted Interest Expense account equals the amount paid for the first 11 months of the 2009 fiscal year. The $230 accrued interest for June has not yet been paid or recorded.

  Answer each query kayla mathews has submitted to you

kayla mathews is a lawyer. she was employed by a major corporation until march 21 2013. subsequently she started her

  What is current environment regarding revenue recognition

What is the revenue recognition principle? What is the current environment regarding revenue recognition? Research a current company's financial statement that the SEC has present or past investigations on for revenue recognition practices of a co..

  Discuss why adjusting entries are necessary explain the

you are an accountant in a medium-sized manufacturing company. you have been asked to mentor an accounting clerk who is

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