Question: Hi, please help me with this problem. I will like for you guys. Thank you! a. Purchase price of 4 acres of land, including an




a. Purchase price of 4 acres of land, including an old building that will be used for an office and fair value is $285,000, building fair value is $70,000)......... $315,000 b. Landscaping (additional dirt and earth moving).... 10,600 c. Fence around the land.......... 18,720 d. Lawyer fee for title search on the land. 600 e. Delinquent real estate taxes on the land to be paid by MMS. 7,800 f. Company signs at front of the company property................ 3,600 g. Building permit for the warehouse..... 970 h. Architect fee for the design of the warehouse... 21,900 i. Masonry, carpentry, roofing, and other labour to construct the warehouse...... 815,000 Assume MMS depreciates buildings over 40 years, land improvements over 20 years, and furniture over 8 years, all on a straight-line basis with zero residual value. cems j. To q. j. Renovation of the office building.. $38,400 k. Interest cost on construction loan for warehouse..... ........ 9,100 1. Landscaping (trees and shrubs)........... 7,600 m. Parking lot, concrete walks, and lights on the property........ 56,200 n. Concrete, wood, and other materials used in the construction of the warehouse..... 238,000 o. Supervisory salary of construction supervisor (85% to warehouse, 5% to land improvements, 10% to office building) 62,000 p. Office furniture............ 112,100 q. Transportation and installation of furniture.............. 2,000 Assume MMS depreciates buildings over 40 years, land improvements over 20 years, and furniture over 8 years, all on a straight-line basis with zero residual value. Print Done Assume Midnight Moving & Storage Ltd. (MMS) of Regina, Saskatchewan, incurred the following costs in acquiring land, making land improvements, and constructie (Click the icon to view the costs of items a to i) Click the icon to view the costs of items to q.) Resuirements Requirement 1. Show how to account for each of MMS's costs by listing the cost under the correct account. Determine the total cost of each asset. (Hold all decim Leave any unused cells blank.) Land Improvements Warehouse Office Building Furniture Item Land a. b. c. d. 0. 9 h. i. 1. k. I. m. n 0. P. Totals Requirement 2. Assuming that all construction was complete and the assets were placed in service on September 1, 2020, record depreciation for the year ended December 31, 2020 Begin with and improvements depreciation (Record debits first, then credits. Explanations are not required. Hold all decimals for interim calculations. Round your final answer to the nearest doll Accounts Debit Credit Dec 31 Date Now.complete the entry for the warehouse depreciation (Hold all decimals for interim calculations. Round your final answer to the nearest dollar) Date Accounts Dehli Credit Dec 31 Next, complete the entry for the office building depreciation (Hold will decimals for Interim calculations. Round your final answer to the nearest dollar) Debit Credit Date Accounts Dec 31 in the near by for the button and deals for internation und your to the rest Account Du Cro y con todo und your water Account Det Credit De
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