Question: need someone to answer in full including the first set of boxes in rhe equation. im not fully understanding how to get these answers. O

 need someone to answer in full including the first set of
boxes in rhe equation. im not fully understanding how to get these
need someone to answer in full including the first set of boxes in rhe equation. im not fully understanding how to get these answers.

O Required information (The following information applies to the questions displayed below.) In January 2017, Mitzu Co. pays $2,750,000 for a tract of land with two buildings on it. It plans to demolish Building 1 and build a new store in its place. Building 2 will be a company office; it is appraised at $750,000, with a useful life of 20 years and a $75,000 salvage value. A lighted parking lot near Building 1 has improvements (Land Improvements 1) valued at $420,000 that are expected to last another 14 years with no salvage value. Without the buildings and improvements, the tract of land is valued at $1,830,000. The company also incurs the following additional costs: $ 342,400 191,400 Cost to demolish Building 1 Cost of additional land grading Cost to construct new building (Building 3), having a useful life of 25 years and a $402,000 salvage value Cost of new land improvements (Land Improvements 2) near Building 2 having a 20-year useful life and no salvage value 2,222,000 168,000 Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column. Allocation of purchase price Appraised Value X Total cost of acquisition Apportioned Cost Land $ Percent of Total Appraised Value 60% 22% 18% 100% X $ X 1,830,000 750,000 420.000 3,000,000 Building 2 Land Improvements 1 Totals $ 2,750,000 2.750,000 2.750,000 1,098,000 165,000 75,600 1,338,600 X $ $ Required: 1. Allocate the costs incurred by Mitzu to the appropriate columns and total each column. Allocation of purchase price Appraised Value Total cost of acquisition Apportioned Cost $ Land Building 2 Land Improvements 1 Totals $ Percent of Total Appraised Value 60% x 22% X 18% X 100% 1,830,000 750,000 420,000 3,000,000 $ 2,750,000 2,750,000 2,750,000 1,098,000 165,000 75,600 1,338,600 $ $ Land Building 2 Building 3 Land Improvements 1 Land Improvements 2 Purchase Price Demolition Land grading New building (Construction cost) New improvements Totals $ 0 $ 0 $ 0 $ 0 $

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