User Account

All Pages

Prepare the journal entry to record the purchase

Assignment Help Accounting Basics
Reference no: EM132475821

Point 1: Beaumont company recently purchased some real estate that contain land improvements (parking lot) and a building. Beaumont has the property appraised after the purchase.

1. allocate the total cost of the three assets

land purchase =                          375,927

land appraisal =                         175,000

improvement appraisal =               87,000

building appraisal =                     210,000

Question 1: Prepare the journal entry to record the purchase

                       Debit. Credit

Land

Land Improvements

Building

Reference no: EM132475821

Questions Cloud

Explain rationale for the inclusion as comprehensive income : What is rationale fiscuss with an example? Explain rationale for the inclusion as comprehensive income (as opposed to net income) of nondisclosure within notes.
How is the deviance linked to morality and conformity : Morality is a test or our conformity rather than our integrity. How is the deviance linked to morality and conformity? Explain
Question regarding the us core values : There are14 US core values. One of the fourteen is Freedom. What does Freedom mean to you and why is it important?
Differences between ideal gender roles and real gender roles : How can the differences between ideal gender roles and real gender roles be explained? How can these differences between the ideal and real lead to conflict
Prepare the journal entry to record the purchase : Prepare the journal entry to record the purchase Beaumont company recently purchased some real estate that contain land improvements
What are the potential effects of gentrification : What are the potential effects of gentrification on the economy and current residents in a neighborhood?
How does racial stereotyping contribute to institutionalized : What would need to happen for this to be eliminated. Discuss the relationship between prejudice and discrimination. Use examples if it helps.
Prepare a spirituality paper : Prepare a spirituality paper - Reading in Mauk and Schmidt, spiritual care in Nursing practice and Role of the Nurse in the Spiritual Journey
Talk about how those statements make you feel : Talk about how those statements make you feel, and what steps you are going to take to confront them about their biases.

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