Potvin Furniture purchased land, paying $80,000 cash and signing a $340,000 note payable. In addition, Potvin...
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Potvin Furniture purchased land, paying $80,000 cash and signing a $340,000 note payable. In addition, Potvin paid delinquent property tax of $2,500, title insurance costing $5,000, and $9,000 to level the land and remove an unwanted building. The company then constructed an office building at a cost of $450,000. It also paid $54,000 for a fence around the property, $11,000 for a sign near the entrance, and $8,000 for special lighting of the grounds. Read the requirements. Requirement 1. Determine the cost of the land, land improvements, and building. The cost of the land is $ 80000 The total cost of the land improvements is $ The cost of the building is $ Requirement 2. Which of these assets will Potvin depreciate? Potvin will depreciate i Requirements 1. Determine the cost of the land, land improvements, and building. 2. Which of these assets will Potvin depreciate? Print Done - X - Potvin Furniture purchased land, paying $80,000 cash and signing a $340,000 note payable. In addition, Potvin paid delinquent property tax of $2,500, title insurance costing $5,000, and $9,000 to level the land and remove an unwanted building. The company then constructed an office building at a cost of $450,000. It also paid $54,000 for a fence around the property, $11,000 for a sign near the entrance, and $8,000 for special lighting of the grounds. Read the requirements. Requirement 1. Determine the cost of the land, land improvements, and building. The cost of the land is $ 80000 The total cost of the land improvements is $ The cost of the building is $ Requirement 2. Which of these assets will Potvin depreciate? Potvin will depreciate i Requirements 1. Determine the cost of the land, land improvements, and building. 2. Which of these assets will Potvin depreciate? Print Done - X -
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Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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