Determine the cost of land to be reported on balance sheet

Assignment Help Financial Management
Reference no: EM132321931

Question

The falcon company acquired an adjacent lot to construct a new warehouse, paying $40,000 and giving a short term note for $410,000. Legal fees paid were $13,275, delinquent taxes assessed were $14,500 and fees paid to remove an old building from the land were $15,800 materials salvaged from the demolition of the building were sold for $6800. A contractor was paid $890,000 to construct the new warehouse.

Determine the cost of the land to be reported on the balance sheet?

Reference no: EM132321931

Questions Cloud

Create dna from an mrna transcript : Why is it advisable to use reverse transcriptase to create DNA from an mRNA transcript when preparing eukaryotic genes for use in bacterial cells?
What factors in eldercare may impact working adults : What types of living situations ensure happier and healthier elders? What factors in eldercare may impact working adults and loved ones? What's the effect of.
Natural resources and environmental degradation : define and explain the term 'natural resources'. explain four factors responsible for the over exploitation of natural resources and environmental degradation
Create a pamphlet or educational handout : Imagine that you are a school nurse tasked with educating middle school/high school students about STIs and STDs. Create a pamphlet or educational handout
Determine the cost of land to be reported on balance sheet : The falcon company acquired an adjacent lot to construct a new warehouse, paying $40,000 and giving a short term note for $410,000.
Discuss the effect the trends have on managed care : Throughout the course, you have been learning about managed care, both past and present. Conduct additional research on trends happening in managed care today.
Form of meningitis and do typical activities : Which age group or population is most susceptible to this form of meningitis and do typical activities within that age group have
What makes the form of assessment specific to social work : Assessments are an integral part of the planned change process. During this part of the process you will accumulate, organize, and review the information.
What is the amount of the gain or loss on disposal : A fixed asset with a cost of $32,141.00 and accumulated depreciation of $28,926.90 is sold for $5,463.97. What is the amount of the gain or loss on disposal?

Reviews

Write a Review

Financial Management Questions & Answers

  How much do they need to invest each year

How much do they need to invest each year to have $6,000,000 in 15 years if the expected rate of return on the investment is 12%

  Though the real estate market has been depressed in some

though the real estate market has been depressed in some countries due to the aftermath of the global financial crisis

  Calculate the p-value for this test of hypothesis

Lazurus Steel Corporation produces iron rods that are supposed to be 36 inches long. Calculate the p-value for this test of hypothesis.

  Calculate the new npv of the ambulance

Assume that the ambulance is sold for a salvage value of $1,900 in the final year. Calculate the new NPV of the ambulance.

  What is the value of this share of stock

A share of stock is expected to have a very high dividend growth rate of 10% for the next two years, and then will settle back to its standard 2%dividend growth

  What role does ethics play in the capital budgeting process

What role does ethics play in the capital budgeting process? What is the payback method? Is this a good method for decision making?

  Calculate the irr assuming a cost of capital

What is the NPV of above project if the initial investment was $35,000? Calculate the IRR assuming a cost of capital of 11%.

  What is required return on franc flows

What is the required return on franc flows? What is the NPV of the project in Swiss francs?

  Linear regression for projecting next years sales

If the sales data from 2009-2013 had been 1024, 1499, 1589, 1823, and 1950 using linear regression - what would the projected sales figure for 2014 be? What assumption is made when you use Linear Regression for projecting next year's sales? Is this a..

  Necessarily imply violation of the no-arbitrage principle

Which of the following necessarily imply a violation of the no-arbitrage principle?

  What is the after-tax salvage value of the machine

Your firm is analyzing a project. A new machine must be purchased which will be sold in 5 years when the project ends. The salvage value of the machine is expected to be $8,000 at that time. The machine costs $22,000 today and the book value in year ..

  Monthly estimates of the required financing or excess funds

Prepare monthly estimates of the required financing or excess funds—that is, the amount of money Bowers will need to borrow or will have available to invest.

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