What is total dollar amount capitalized as cost of land

Assignment Help Financial Management

Reference no: EM13933092

Jack Company purchased land at a price of $40,000. Closing costs for the transaction totaled $1,200. After the sale, Jack demolished and removed an old barn on the land at a cost of $5,000 to prepare the land for its intended use. What is the total dollar amount capitalized as the cost of the land? A. $40,000. B. $41,200. C. $45,000. D. $46,200.

Reference no: EM13933092

Questions Cloud

Discuss the philosophical origins of each approach : Explain how each approach affects the treatment strategies for your selected disorder. Evaluate the effectiveness of each approach, in relation to your selected disorder, based on treatment outcome research.

Why is criminal law important in our society : Why is criminal law important in our society? What are some issues you think present problems within the criminal law system today and why

Find the finance charge : Jon had an unpaid balance of $2,320.00 on his credit card statement at the beginning of February. He made a payment of $160.00 during the month. If the interest rate on jon credit card was 11% per month on the unpaid balance, find the finance charge ..

Social justice in early childhood education : This assessment task requires you to research and report on an issue that is related to social justice in early childhood education. You are also required to develop strategies for advocacy and activism in practice.

What is total dollar amount capitalized as cost of land : Jack Company purchased land at a price of $40,000. Closing costs for the transaction totaled $1,200. After the sale, Jack demolished and removed an old barn on the land at a cost of $5,000 to prepare the land for its intended use. What is the total d..

Calculate the flexible-budget variance : Calculate the flexible-budget variance, the spending variance and the efficiency variance for variable manufacturing overhead and calculate the spending and production-volume variance for fixed manufacturing overhead.

Three significant figures and include the appropriate units : How many grams of oxygen are in 5.89×1023 formula units of (NH4)2SO4? Express your answer to three significant figures and include the appropriate units

Calculate the gain or loss on sale : Delta Airlines purchases a plane for $4 million, no salvage value, useful life 10 years. Using straight-line depreciation, they depreciate it 5 full years. They then sell it for $3 million. Calculate the gain or loss on sale. $_______________________..

Accumulated depreciation through the date of sale totaling : Hawthorne Company sold an old computer for $3,000 cash. The computer cost $45,000 and had accumulated depreciation through the date of sale totaling $42,000. The company will recognize:

User Account

All Pages