User Account

All Pages

The company pays 400000 for real estate plus closing costs

Assignment Help Accounting Basics
Reference no: EM13572816

The company pays $400,000 for real estate plus closing costs of $10,000. How do you prepare the journal entry to record the puchase if the company pays $40,000 in cash and borrows the rest on a mortgage note? The appraiser values the land at $156,000, land improvements at $50,000, and the building at $200,000.

Reference no: EM13572816

Questions Cloud

Childrens hospital of the kings daughter in norfolk : childrens hospital of the kings daughter in norfolk virginia introduced a new budgeting method that allowed the
The death penalty is the application of the death penalty : i. introductionbackground death penaltya. the death penalty on both the debate over whether it should or should not
Explain the following statement while the balance sheet : explain the following statement while the balance sheet can be thought of as a snapshot of the firms financial position
On december 312012 dow steel corporation had 800000 shares : on december 312012 dow steel corporation had 800000 shares of common stock and 50000 shares of 8 noncumulative
The company pays 400000 for real estate plus closing costs : the company pays 400000 for real estate plus closing costs of 10000. how do you prepare the journal entry to record the
A television set costs 500 in the united states the same : a television set costs 500 in the united states.the same set costs 725 euros. if purchasing power parity holds what is
Assuming that the investments are equally risky and that : the shrieves corporation has 10000 that it plans to invest in marketable securities. it is choosing between atampt
Harmony corporation manufactures and sells a single product : harmony corporation manufactures and sells a single product. in preparing the budget for the first quarter the companys
During 2013 uma company had 160000 in cash sales and : during 2013 uma company had 160000 in cash sales and 1200000 in credit sales. the accounts receivable balances were

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine whether to retain or replace equipment

The new machine will lower the annual variable manufacturing cost from $600,000 to $500,000. Prepare an analysis showing wheaher the old machine should be retained or replaced.

  Company owner abel terrio has reviewed the 2011 financial

company owner abel terrio has reviewed the 2011 financial statements you prepared for jackson company as the accountant

  Value of the ten-year bond over time

What would happen to the value of the 10-year bond over time if the required rate of return remained at 13%? If it remained at 7%? (Hint: With a financial calculator, enter PMT, 1/YR, FV, and N, and then change N to see what happens to the PV as t..

  The estimated cost to dispose of a unit is 4 and the normal

addison company can sell inventory item pqwr213 for 20 per unit. the original cost of the unit is 18. currently the

  Case study of kk company

KK Company bought the delivery truck for $62,000 on January 1, 2009. They installed the rear hydraulic lift for $8,000 and paid sales tax of the $3,000.

  Sanderson company has the following production data for

sanderson company has the following production data for march no beginning work in process units started and completed

  Investment to fair value

If the fair value of held to maturity investment declines for a reason that is viewed as OTT because the company intends to sell the investment do you write down the investment to fair value?

  Which is the primary assertion tested in conjunction

Which is the primary assertion tested in conjunction with the obtaining of evidence regarding impairment? Answer a. Rights. b. Existence. c. Cutoff. d. Valuation.

  Assume that you are a ceo of a medium-sized company that

assume that you are a ceo of a medium-sized company that needs a significant influx of cash for several expansion

  Briana hope has had a long-standing love affair with

briana hope has had a long-standing love affair with technology and an appetite for apps. she believes that business

  You are considering a project with an initial cost of 7500

you are considering a project with an initial cost of 7500. what is the payback period for this project if the cash

  Proper accounting treatment

Discuss the proper accounting treatment, including any required disclosures, for each situation. Give the rationale for your answers.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd