Novak Company acquires land for $56200 cash. Additional costs are as follows: Removal of shed $1720 Filling and grading Paving of parking lot Closing costs 1450 O $60060. O $56200. $56890. 9000 690 Novak will record the acquisition cost of the land as
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- Costs to Be Included in Historical Cost Valuation. At a cost of 200,000, Assume In-N-Out Burger acquired a tract of land for a restaurant site. It paid attorneys 7,500 to conduct a title search and to prepare the required legal documents for the purchase. State real estate transfer taxes totaled 2,500. Building permits totaled 1,200. Compute the acquisition cost of the land.Concord Company acquires land for $86700 cash. Additional costs are as follows: Removal of shed Filling and grading Salvage value of lumber of shed Broker commission Paving of parking lot Closing costs $250 1600 100 $96400. $90130. $88380. $90330. 1140 9700 540 Concord will record the acquisition cost of the land asOriole Company acquires land for $86300 cash. Additional costs are as follows: Removal of shed Filling and grading Salvage value of lumber of shed Broker commission Paving of parking lot Closing costs $290 O $97800. O $87980. $89640. O $89900. 1500 130 1130 11500 550 Oriole will record the acquisition cost of the land as
- Sunland Company acquires land for $280000 cash. Additional costs are as follow. Removal of shed $2100 Filling and grading 7200 Salvage value of lumber of shed 1270 Broker commission 4520 Paving of parking lot 42000 Closing costs 3500 Sunland will record the acquisition cost of the land as $296050. $297320. $298590.Mazaya Company acquires land for RO 96,000 cash. Additional costs are as follows Removal of shed RO 400, Fitling and grading 1.530, Salvage value of lumber of shed 120, Broker commission 1530, Paving of parking lot 10,000, Closing costs 650 Mazaya will record the acquisition cost of the land as Select one O a RO 96,00o. O b RO 99.990. O C RO 98,09o. O d RO 99.770.PQ16.04 Shaffer Company acquires land for $77,000 cash. Additional costs are as follows. Removal of shed $ 300 Filling and grading 1,500 Salvage value of lumber of shed 120 Broker commission 1,130 Paving of parking lot 10,000 Closing costs 560 Shaffer will record the acquisition cost of the land at?
- Sheridan Company acquires land for $71000 cash. Additional costs are as follows. Removal of shed $400 Filling and grading 1800 Salvage value of lumber of shed 170 Broker commission 1330 Paving of parking lot 12000 Closing costs 580 Sheridan will record the acquisition cost of the land as $71000. $75280. $74940. $72910.1 QUE Sunland Company acquires land for $85700 cash. Additional costs are as follows: Removal of shed $ 250 Filling and grading 1600 Salvage value of lumber of shed 160 Broker commission 1100 Paving of parking lot 9700 Closing costs 570 Sunland will record the acquisition cost of the land as $87370. $89380. $89060. $95400. 2 QUE A company has the following assets: Buildings and Equipment, less accumulated depreciation of $2010000 $9520000 Copyrights 959000 Patents 4100000 Timberlands, less accumulated depletion of $2760000 4870000 The total amount reported under Property, Plant, and Equipment would be $19449000. $15349000. $14390000. $18490000.AI Barka acquires land for RO 102,000 cash. Additional costs are as follows: New Building RO 25,000 Leveling land 1,600 Salvage value of cement from the old wall 27,040 Broker commission 7,530 Removal of an old wall 6,300 Closing costs 5,600 AI Barka will record the acquisition cost of the land as: Select one: O a. RO 94,090. O b. RO 92,000. O c RO 95,990. O d. None of the answers ae correct. O e. RO 95,770.
- Unilever acquires land for $86,000 cash. Additional costs are as follows: removal of shed $300, broker commission $1,530, paving of parking lot $10,000, gardening $1,500, closing costs $560, and a salvage value of lumber of shed $120. Unilever will record the acquisition cost of the land as:How much are the capitalized costs of the land and the building? Building Building 23,096,000 23,144,000 Land Land a. 8,160,000 b. 8,120,000 c. 8,100,000 d. 8,060,000 23,184,000 23,264,000Cooler Company acquired a tract of land containing an extractable natural resource. Cooler is required by the purchase contract to restore the land to a condition suitable for recreational use after it has extracted the natural resource. Geological surveys estimate that the recoverable reserves will be 5,000,000 tons and that the land will have of P1,000,000 after restoration. Relevant cost information as follows: Land P 9,000,000 Estimated restoration costs 1,500,000 If Cooler maintains no inventories of extracted material, what should be the depletion expense per ton of extracted material?