On October 1 Computer Solutions purchased an office building for $523,000, which included land, building, and office equipment. The purchase was financed with a 30 year loan from the bank with an interest rate of 6% (ordinary annuity). The first payment is due November 1. Appraisal of the property came in at $605,000 with land appraised at $242,000; building, $308,500, and office equipment, $54,450.

PLEASE CALCULATE THE CAPITALIZED ASSETS

Answer rating: 100% (QA)

To calculate the capitalized assets we need to determine the total cost of the a... View the full answer