Kingbird Company purchased land for $115300 with the intentions of constructing a new operating tacility. The...
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Kingbird Company purchased land for $115300 with the intentions of constructing a new operating tacility. The land porchase included a dilapidated building that was removed at a cost of $16400. The only salvage value from this old building was some materials which were sold for proceeds of $4000. Kingbird had paid surveying costs of $2300 and legal fees related to land transfer of S6800. The new building was quickly constructed at a total cost of $422800. Permits on the construction of this new facility totalled $18500 Insurance premiums of $9400 are paid annually. The production manager is currently on-site facilitating the production startup. This manager is an annual salary of $84300. What capital cost is assigned to the new building? O $441300 O $450700 O $453000 O $535000 Kingbird Company purchased land for $115300 with the intentions of constructing a new operating tacility. The land porchase included a dilapidated building that was removed at a cost of $16400. The only salvage value from this old building was some materials which were sold for proceeds of $4000. Kingbird had paid surveying costs of $2300 and legal fees related to land transfer of S6800. The new building was quickly constructed at a total cost of $422800. Permits on the construction of this new facility totalled $18500 Insurance premiums of $9400 are paid annually. The production manager is currently on-site facilitating the production startup. This manager is an annual salary of $84300. What capital cost is assigned to the new building? O $441300 O $450700 O $453000 O $535000
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Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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