Analyze the foregoing transactions

Assignment Help Financial Accounting

Reference no: EM13176598

Rumblebuffin Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order.

Debits

1. Cost of filing and grading the land $4,000

2. Full payment to building contractor 700,000

3. Real estate taxes on land paid for the current year 5,000

4. Cost of real estate purchased as a plant site (land

building $45,000) 145,000

5. Excavation costs for new building 35,000

6. Architect's fees on building plans 10,000

7. Accrued real estate taxes paid at time of purchase

of real estate 2,000

8. Cost of parking lots and driveways 14,000

9. Cost of demolishing building to make land suitable

for construction of new building 15,000

$930,000

Credit

10. Proceeds from salvage of demolished building $ 3,500

Instructions

Analyze the foregoing transactions using the following column headings. Insert the number of each transaction in the Item space, and insert the amounts in the appropriate columns. For amounts entered in the Other Accounts column, also indicate the account titles.

Reference no: EM13176598

Questions Cloud

Highest and lowest incomes : Go to the State Median Income link, identify the five states with the highest and lowest incomes, and determine why this would be important to marketers.

Journal entry to record annual depreciation at december : Calculate the amount of depreciation expense that Tiggy should record for Machine B each year of its useful life, under the following assumptions.

Describe quantity demanded : What does the term "quantity demanded" refer to? A. It refers to both the amount of a good that consumers want to buy at a specified price and the amount that suppliers want to sell at that specified price B. It refers to the demand for a good over..

State qualify how the molar solubility changes : A separate experiment is conducted in which 4.82 x 10-5 M CaI2(aq) is added to a solid solution of PbI2 at 20 oC. Qualify how the molar solubility changes

Analyze the foregoing transactions : Analyze the foregoing transactions using the following column headings. Insert the number of each transaction in the Item space, and insert the amounts in the appropriate columns.

Calculate ka for formic acid : For a 0.13 M solution of formic acid, HCOOH, the pH = 2.40. Calculate Ka for formic acid.

State what are the relative populations of these levels : What are the relative populations of these levels at the boiling if the degeneracy level is 2j+ 1? Is the ground state most highly populated level?

What is the total number of moles of ca needed to react : What is the total number of moles of Ca needed to react completely with 4.0 moles of H2O?

State experimental solid-oxide fuel cells that use butane : Experimental solid-oxide fuel cells that use butane (C4H10) as the fuel have been reported recently. These cells contain composite metal/metal oxide electrodes and a solid metal oxide electrolyte. Consider the following unbalanced half-reactions:

User Account

All Pages