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Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase price, Samtech made the following expenditures in connection with the purchase of the land and building: Title insurance $ 31,000 Legal fees for drawing the contract 7,500 Pro-rated property taxes for the period after acquisition 51,000 State transfer fees 5,500 An independent appraisal estimated the fair values of the land and building, if purchased separately, at $3.5 and $1.5 million, respectively. Shortly after acquisition, Samtech spent $97,000 to construct a parking lot and $55,000 for landscaping. Required: 1. Determine the initial valuation of each asset Samtech acquired in these transactions. (Enter your answers in whole dollars.) 2. Determine the initial valuation of each asset, assuming that immediately after acquisition, Samtech demolished the building. Demolition costs were $400,000 and the salvaged materials were sold for $8,500. In addition, Samtech spent $94,000 clearing and grading the land in preparation for the construction of a new building. (Enter your answers in whole dollars.)
The company guarantees its direct labor workers a 40-hour paid work week. With the number of workers currently employed, that means that the company is committed to paying its direct labor workforce for at least 5,480 hours in total each month even i..
The liquidity premium on a US Treasury debt security is normally considered to be: a-4 percent b-3 percent c-2 percent d-1 percent e-0 percent
Patterson Cereal includes one coupon in each package of Wheatos that it sells and offers a toy car in exchange for $1.00 and three coupons. The cars cost Patterson $1.50 each. Experience indicates that 40% of the coupons eventually will be redeemed. ..
Describe the reason for any difference in the ending inventory balances under the two costing methods and the impact of this difference on reported net operating income.
Prepare the journal entries that are required at year-end to arrive at a consolidated balance sheet and income statement as of December 31, 2009.
calculation of break even volume in units.generators inc. produced emergency backup generators for use in large
Presented is selected information from Till's April income statement and statement of cost of goods manufactured. Use T-accounts to determine the beginning balance of finished goods inventory on April 1.
Prepare your comments about the two companies'performancesbased on your ratio calculations. The entire project will be graded by the instructor at the end of the final submission in Week 7, and one grade will be assigned for the entire project.
For each of the following independent cases, use the equation method to compute the economic order quantity.
solvent ltd is considering expanding its business and comparing between two potential opportunities for investment in
The Power Department in Manufacture Inc. is the only service department. At the time the power plant was constructed, the two operating divisions, O1 and O2 estimated their demands at 60,000 units and 40,000 units respectively. Calculate the unalloca..
On hearing that you are undertaking a subject in accounting as a part of your degree you are approached by a friend, Michael Graham, to give him advice regarding the potential purchase of a business.
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