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On March 1, 2013, Beldon Corporation purchased land as a factory site for 60,000. an old buildding on the property was demolished and construction began on a new building that was completed on December 15, 2013. Costs incurred during this period are listed below: Demolition of the old building 4,000 Architect's fees (for new building) 12,000 Legal fees for title investigation of land 2,000 Property taxes on land (for period beginning March 1, 2013) 3,000 Construction costs 500,000 Interest on construction loan 5,000 Salvaged materials resulting from the demolition of the old buidling were sold for 2,000. Question: Determine the amounts that Beldon should capitalize as the cost of the land and the new building.
Determine the consolidation worksheet entries in the following year, assuming the inventory is on-sold, and explain the adjustments on a line-by-line basis.
Carla and Eliza share income equally. During the current year the partnership net income was $40,000. Carla made withdrawals of $12,000 and Eliza made withdrawals of $17,000. At the beginning of the year, the capital account balances were: Carla c..
The production department has met all production requirements for the current month and has an opportunity to produce additional units of product with its excess capacity. Unit selling prices and unit costs for three different drill models are as ..
what is opportunity cost and why is it an important concept in the capital budgeting process? the opportunity cost
The Fancy Umbrella Company makes beach umbrellas. The production process requires 3 square meters of plastic sheeting and a metal pole. The plastic sheeting costs $0.50 per square meter and each metal pole costs $1.00.
on january 1 2013 company had the following account balances.common stock 1.00 par value 100000 shares issued amp
in 2011 richard a single taxpayer has adjusted gross income of 40500. his agi includes 4000 of qualified dividends.
acocunting question purchased merchandise on account list price is 30000 trade discount 40 fob destination 210 n30.the
Use the three divisional income statements in the Pinnacle_Financials Excel file on the Web site to prepare a common-size income statement for each of the three divisions for all three years.
smitty museum purchased the copyright to a piece of artwork for 922000. smitty plans to reproduce 1.8 million posters
wheelco a foreign corporation manufactures motorcycles for sale worldwide. wheelco markets its motorcycles in the
green fingers co. makes small plant stands that sell for 25 each. the companys annual level of production and sales is
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