Question: Please help me answer this question uestion 19 On December 1, 2010, Bords Co. purchased a P400,000 tract of land for a factory site. Bords

Please help me answer this question

uestion 19 On December 1, 2010, Bords Co. purchased a P400,000 tract of land for a factory site. Bords razed an old building on the property lot yet nswered and sold the materials it salvaged from the demolition. Bords incurred additional costs and realized salvage proceeds during December 2010 as follows: Marked out of 100 Demolition of old building P50.000 Flag question Legal fees for purchase contract and recording 10,000 ownership Title guarantee insurance 12,000 Proceeds from sale of salvaged materials 8.000 In its December 31, 2010 balance sheet, Bords should report a balance in the land account of? Select one: a. P442.000 D. P422.000 C. P460.000 d P464.090

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

On December 1, 2010, Bords Co. purchased a 400,000 tract of land for factory site. Bords razed an old building on the property and sold the materials it salvaged from the demolition . Bords incurred...

all Inereat wmen o e of the deb be mued n a separae defered charge acoount and wen offequaly over 40year peod nene of m unr the related anst is fully depreciated or disposed of Use the foloing...

There are 3 pages. The wording is small so please use the transcribed text of the question if needed. Please answer as many as possible to see. I especially need #34. Help Center b) Using the...

need help with this question pls Question Completion Status: QUESTION 2 On December 1, 2017 Hogan Co purchased a tract of land as a factory site for $780,000. The old building on the property was...

1.- Plan assets are long-lived, tangible assets used in the operation of a bussiness. True False 2. When an inventory overstatement in in year one counter balances in year two, this means: a) A prior...

kam 00:00 Time 13:36 Chum Anichebe Attempt 1 X Question 9 (1.5 points) On December 1, 2019, Aidan Co, purchased a tract of land as a factory site for $780,000. The old building on the property was...

please see attached and explain the correct answers. thanks in advance. Quiz 6 Question 1 Answer saved Points out of 2.00 Flag question 0 qaid=5449709&qu 0 Question text 2 A fixed asset with a...

Hello, This is a practice quiz I found on here. I would like step by step on how to solve the problem shown on a word document. Also, a few sentences explaining why you did the...

Can someone please help me answer the four questions on the first two pages? NA0274 Cavendish Cove Cottages Sean Hennessey, University of Prince Edward Island \"I just don't know if the asking price...

Hello, can somebody please help me with this problem?! On December 1, a tract of land was purchased as a factory site for $800,000. The old building on the property was razed, and salvaged materials...

The following data were collected on the number of nonconformities per unit for 10 time periods: a. Construct the appropriate control chart and determine the LCL and UCL. b. Are there any special...

Wildhorse Enterprises is considering investing in a new packing machine. The new machine will provide annual cash operating inflows of $12300 for 5 years. The cost of the machine is $42300 and it can...

Betty DeRose, Inc. operates two departments, the handling departnent and the packaging department. During April, the handling department reported the following information: \ table [ [ , units, \...

The following information has been extracted from Atwood Corporations accounting records: Cash on hand (undeposited sales receipts) ..............$1,535 Certificates of deposit...

The following balances, in trial balance form, were drawn from the year-end ledgers of the Federal Lending Agency (a ï¬ctitious entity) following the agencys ï¬rst year of...

Tanek Corp.s sales slumped badly in 2017. For the first time in its history, it operated at a loss. The companys income statement showed the following results from selling 500,000 units of product:...

Prepare a journal entry on August 13 for cash received for services rendered, $9,000.

State for each account whether it is likely to have (a) Debit entries only, (b) Credit entries only, or (c) Both debit and credit entries also, indicate its normal balance. 1. Accounts Payable 2....

A company uses the EOQ policy for a particular product of which the annual demand has been increased for two consecutive years. The unit holding cost and ordering cost do not change during this time....

10. Try to remember the last communication you entered into. How many times did you fill in information that the other person did not convey? How many times did you speak before the other person...

6. Think of a situation where you noticed that the other person or people did not like or understand your behaviour. Examine your own intentions behind the behaviour.

2. In this chapter, the reader should reflect on the following concepts: historical reason, goal orientation, core values and top performance.