User Account

All Pages

What would be the journal entry to record this transaction

Assignment Help Accounting Basics
Reference no: EM133058036

Question - A company purchased land and a building for $280,000. An independent appraisal values the land at $256,667 and the building at $93,333. What would be the journal entry to record this transaction?

Reference no: EM133058036

Questions Cloud

Difference between general and specific transcription factor : How could you use bioinformatics and gene knockout technologies to confirm whether VirB could play a similar role to ParB in Shigella flexneri
What is the gain on sale of the building : The building's useful life is expected to be 27 years after which it will have a residual value of $404,987. What is the gain on sale of the building
What is the founder and first-round investor percentage : Marion has started a venture, DecorLab, with 1,000,000 shares for herself. The venture is not expected to make any profit until year 5 when its net income is $3
Estimate the share price of high growth firms : What method do you recommend for high growth firms' share price estimation, except Discounted Cash Flow method?
What would be the journal entry to record this transaction : An independent appraisal values the land at $256,667 and the building at $93,333. What would be the journal entry to record this transaction
Compute volatility of security : Consider a two-factor model and assume that the factors, F1 and F2, are independent. The factors have the same risk premium of 5%, and volatilities of sF1 = 20%
What will the building net book value : On December 31, 20x4, you purchase a building for $3,160,868. What will the building net book value be at the end of 20x7
New mv from perspective : Assuming the spread jump to 3% and the principal of CBS is 10,000,000 what is going to be the new MV from your perspective?
What is the present value of the annuity : What is the present value of the following annuity? Round the answer to two decimal places. $2,830 every half year at the end of the period for the next 4 years

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute the OTP

Compute the OTP - Supplies for cockpit operations (net of vat) 750,000 and Supplies for restaurant operations (invoice amount) 224,000

  What is its cost saving in the coming year

If Down Under can increase inventory turnover from its current level of nine times per year to a level of 12 times per year, what is its cost saving

  What is the amount of the gross profit

Merchandise is sold for $18,300 cash and $295,700 on account. The cost of the merchandise sold is $188,000. What is the amount of the gross profit

  Critically analyze the case

Read the case study provided in the text and critically analyze the case. Identify the issues i the case and give adequate suggestions to mitigate these issues.

  Calculate amount of direct labor cost assigned to each job

Johnson Products had the following labor time tickets for the month of February. Calculate the amount of direct labor cost assigned to each job

  Which of the is a written statement issued to a taxpayer

Which of the following is a written statement issued to a taxpayer that interprets and applies tax laws to the taxpayer's specific set of facts

  Discuss an analysis of insurance policies

An analysis of insurance policies shows that $1200 of unexpired insurance benefits remain at December 31,2015

  Compute the cost of the ending inventory

At the end of the year, Lisa had 146 units in ending inventory. Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO

  What are the warranty expense balances

Under the cash-basis method, what are the Warranty Expense balances for 2014 and 2015

  Prepare an income statement for ramirez enterprises for the

Prepare an income statement for Ramirez Enterprises for the year ended April 30, 2014. Prepare a retained earnings statement for Ramirez Enterprises for the year ended April 30, 2014. Prepare a classified balance sheet for Ramirez Enterprises as of A..

  Statement of cash flows under the direct and indirect method

In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct and indirect method.

  Identifying taxation issues and consequences

You are chief counsel to the chairman of the Joint Committee on Taxation, the body primarily responsible for identifying taxation issues and their consequences

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