Case study of revson corporation

Assignment Help Accounting Basics

Reference no: EM13259626

Revson Corporation purchased land adjacent to its plant to improve access for trucks making deliveries. Expenditures incurred in purchasing the land were as follows: purchase price, $50,000; broker's fees, $6,000; title search and other fees, $5,000; demolition of an old building on the property, $5,700; grading, $1,200; digging foundation for the road, $3,000; laying and paving driveway, $25,000; lighting $7,500; signs, $1,500. List the items and amounts that should be included in the Land account.

Reference no: EM13259626

Questions Cloud

Corporate social responsibility : Discuss what we mean by the term "Corporate Social Responsibility".

Amount of net income and amount of net cash flow : explain the difference between the amount of net income and amount of net cash flow from operating activities.

Identify and control business risks : Why is it important to identify and control business risks?

Explain slightly soluble ionic compound when a common ion : Which of the following describes what happens to the solubility of a slightly soluble ionic compound when a common ion is added to the solution

Case study of revson corporation : Revson Corporation purchased land adjacent to its plant to improve access for trucks making deliveries. Expenditures incurred in purchasing the land were as follows:

Why has lead-free solder replaced lead-based solder : 1. What is the purpose of core in hollow solder wire 2. What is tinning, and why is it important 3. Why is safety so important when soldering 4. Why has lead-free solder replaced lead-based solder. Be sure to properly cite any sources of information.

Describe what is the ph of the solution : A 50 mL sample of 0.5 M HCl is titrated with 0.5 M NaOH. What is the pH of the solution after 28 mL of NaOH have been added to the acid

What is the all day efficiency of the transformer : A 25KVA transformer supplies a load with the following schedule: 8hrs-full load with 0.8 lagging power factor. 4hrs-75% full load at unity power factor. 12hrs-No load. The transformer is energised 24hrs per day and has iron losses of350w.

What are the expected collections for july : Sales are 40% cashand 60% credit. All credit sales are collected in the monthfollowing the sale. What are the expected collections for July?

User Account

All Pages