How to allocate total cost among the three purchased assets

Assignment Help Cost Accounting

Reference no: EM13215680

Liltua Company pays $375,280 for real estate plus $20,100 in closing costs. The real estate consists of land appraised at $157,040; land improvement appraised at $58,890; and a building appraised at $176,670. Allocate the total cost among the three purchased assets and prepare the journal entry to record the purchase.

Reference no: EM13215680

Questions Cloud

Explain impact of external financing on the additional funds : Consider the impact of external financing on the additional funds needed (AFN) to determine how much additional interest or dividends must be paid to support expected growth?that is, consider financing feedbacks.

Describe an orientation experience : Describe an orientation experience you have had or are familiar with that was effective (or ineffective) in aligning employee behavior with the assigned job.

What is the molarity : Sulfuric acid is a very strong inorganic used in commercial and non-commercial laboratories. What is the molarity of a 70.00 wt % solution of sulfuric acid in water? The density of the solution is 1.6503 g/mL.

Project management strategy : Select one tool, other than MS Project, that you could use in order to manage project costs and scheduling. Next, speculate on the overall different project management strategy that you would apply based on the tool that you have selected

How to allocate total cost among the three purchased assets : Liltua Company pays $375,280 for real estate plus $20,100 in closing costs. The real estate consists of land appraised at $157,040; land improvement appraised at $58,890; and a building appraised at $176,670. Allocate the total cost among the thre..

Explain what if the u.s. dollar weakens : What additional risks will the company face as a result of the proposed international sales? b. What happens to the company's profits if the U.S. dollar strengthens? What if the U.S. dollar weakens?

Organizing function of management : Research on the topic of logistics management or other aspect of management that exemplifies the organizing function of management. See if you can find an interesting case/example to present to the class.

What budget the companys bookkeeper mistakenly recorded : For each of the following errors, describe to a recently hired bookkeeper how it would be shown on a cash reconciliation: The bank recorded a deposit of $200 as $2,000. The company's bookkeeper mistakenly recorded a deposit of $530 as $350.

Draw a lewis structure : Draw a Lewis structure for each of the following molecules and determine its molecular geometry. What kind of intermolecular forces are present in each substance?

User Account

All Pages