The mrc purchased a bankrupt warehouse

Assignment Help Accounting Basics

Reference no: EM13529011

On April 1, 20x2, the MRC purchased a bankrupt warehouse which has been used for a short period of time as a gymnasium. The total cost and allocation was follows $410,000 land 20%, Building 60%, Heating /Air conditioner equipment 14%, Old fitness equipment 5% Terms of purchase: A cash down payment is paid on April 1, 20x2 $32,800 A 30-year, 5% mortgage was arranged for the remaining amount $377,200 Depreciation was determined as follows Building: 30 year estimated life, residual value, 10% of original cost Heating and A/C equipment: 15 year estimated life; no residual vale (Heating and A/C equipment: Depreciation to begin April 1 20x2) Old Fitness equipment: to be sold and replaced (not being depreciated)'

Reference no: EM13529011

Questions Cloud

Calculate the magnitude of the deceleration : The front end of an automobile has been designed so that upon impact it progressively crumples by as much as .70m. What is the magnitude of the deceleration

Explain the conductance cell and the cell constant : What are the conductance cell and the cell constant. Describe experimental method for the determination of the cell constant.

In cats-coat colour is an example of codominance : In cats, coat colour is an example of codominance. Colours can beyellow (BB), black (B'B') or tortoise shell (BB').

Explain reaction will change to counteract the disturbance : Which law states that when equilibrium is disturbed, the reaction will change to counteract the disturbance

The mrc purchased a bankrupt warehouse : The MRC purchased a bankrupt warehouse

Mendel crossed pea plants that produced round seeds : Mendel crossed pea plants that produced round seeds w/ those thatproduced wrinkled seeds and self fertilized the progeny. Intthe F2, ht observed 5,474 round seeds and 1,850wrinkled seeds. Uwing the letter W and w for the seedtexture alleles, diagram ..

Calculate the mid-point of the hermite curve : Calculate the mid-point of the Hermite curve that fits the points and the tangent vectors

Adam basis in his partnership interest is what : Adam & Eve form an LLC and Adam contributes land worth $200,000 (basis of $120,000) with a liability of $80,000 to the partnership. Eve will contribute cash to match Adam's contribution. Adam's basis in his partnership interest is what?

Define the heterogeneous equilibrium : Consider the following heterogeneous equilibrium: CCl4(g) ñ C(s) + 2Cl2(g) . Kp = 0.80 atm for this reaction at some elevated temperature. Calculate the initial partial pressure of CCl4(g)

User Account

All Pages