The land should be capitalized at what amount

Assignment Help Financial Accounting
Reference no: EM13135962

On December 1, Miser Corporation exchanged 2,000 shares of its $25 par value common stock held in treasury for a parcel of land to be held for a future plant site. The treasury shares were acquired by Miser at a cost of $40 per share, and on the exchange date the common shares of Miser had a fair market value of $50 per share. Miser received $6,000 for selling scrap when an existing building on the property was removed from the site. Based on these facts, the land should be capitalized at what amount?

Reference no: EM13135962

Previous Q& A

  How much sio2 would be produced

14 g of Si reacts with 16 g of O to produce SiO2, the only product, with no reactant left over. How much SiO2 would be produced from 34 g of Si and excess O?

  Texas constitution of 1875

What circumstances might these people, living in 1875 have envisioned as typical in a bankruptcy proceeding?

  What is the company overall break-even point

Product Y sales were $40,000 and its variable expenses were $9,850. The company's fixed expenses were $48,310. What is the company's overall break-even point?

  Describes themanner in which barnum company will report

On December 1, 2011, Barnum Company (a U.S. -based on company) entered into a three-month forward contract to purchase 1,000,000 ringgits on March 1, 2012. The following U.S. dollar per ringgit exchange rates apply.

  Boswell break-even point in units

Sales (50,000 units) $1,000,000, direct materials and direct labor $500,000, other variable costs $50,000, and fixed costs $180,000. What is Boswell break-even point in units?

  Questions-american congress-constitution

Was part of the reason for a two-house legislature the idea that it would be more difficult to pass legislation, therefore serving as a check on a runaway legislature?

  What was the amount of the translation adjustment

Darron Co. was formed on January 1, 2009 as a wholly owned foreign subsidiary of a U.S. corporation. Darron’s functional currency was the stickle €. The following transactions events occurred during 2007: What was the amount of the translation ad..

  What is the length of a call if calls are shorter

What is the probability that a call lasted between 180 and 300 seconds? What is the length of a call if only 1% of all calls are shorter?

  Views of economists and american people

Contrast the views of economists and the American people on the issue of world trade. Describe the stages of the policymaking process.

  Incremental cost of one unit

Direct materials $40, direct labor $10, variable overhead costs $30, and fixed overhead costs $20. In the short term, the incremental cost of one unit is what?


Write a Review


Similar Q& A

  Calculate each partner''s share of the net income

Calculation of each partner's share of the net income - Evaluate each partner's share of the Net Income. Show your calculations.

  Illustrate what amounts should be considered product

Eighty percent of the premium applies to manufacturing operations and 20% applies to selling and administrative activities. Illustrate what amounts should be considered product and period costs respectively for the first year of coverage?

  Find the return on equity from the data

Find the return on equity from the data given and Henry's return on common stockholder's equity, rounded to the nearest percentage point,for 2007

  Explain how will a partner distributive share

Explain how will a partner's distributive share be find out if the partner sells one half of his or hers beginning of the year partnership interest at the beginning of the tenth month of the partnership's tax year?

  Computation of total cash

Computation of total cash received from the selling of merchandise - What was the total cash received from second during July

  What has been the advantage of financing with debt as oppose

In capital budgeting (in recent years), what has been the advantage of financing with debt as opposed to equity?

  Find accounts receivable turnover

Find the financial statements for 2 related/similar companies (Nike and reebok) and calculate the following ratios for each (note whether a particular ratio is not applicable):

  Journalize the january transactions

Preparation of journal entries for various tax related transactions - Journalize the January transactions.

  Create the journal entry to record income taxes

Pretax accounting income includes interest revenue from municipal bonds (not taxable). This interest revenue is $25,000 in 2010, $30,000 in 2011, and $32,000 in 2012. The enacted tax rate is 40%. Create the journal entry to record income taxes for ..

  Calculate equivalent units of production

Per the attached document, could you please explain to me how to calculate the 1900 units under materials and conversion for number of units transferred to the next department under equivalent units of production was calculated?

  Expected revenues and expenses for the first year

Expected revenues and expenses for the first year of operations

  Why is money laundering considered a criminal activity

Why is money laundering considered a serious criminal activity if it only involves the transfer of money from one location to another? Are financial institutions the only organizations used to detect and combat money laundering activities? Name ano..

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