X b. Landscaping (additional dirt and earth moving).. Items a. to i. a. Purchase price of...
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X b. Landscaping (additional dirt and earth moving).. Items a. to i. a. Purchase price of 4 acres of land, including an old building that will be used for an office (and fair value is $265,000, building fair value is $75,000) c. Fence around the land acco set $295,000 Items j. to q Renovation of the office building Interest cost on construction loan for warehouse. $38.000 9.500 10,600 1. Landscaping prees and shrubs) 8,000 18,760 m. Parking lot, concrete walks, and lights on the property 56,300 d. Lawyer fee for title search on the land 600 e. Delinquent real estate taxes on the land to be paid by MMS n. Concrete, wood, and other materials used in the construction of the warehouse 236,000 7,400 f. Company signs at front of the company property 3,000 g. Building permit for the warehouse. 900 h. Architect fee for the design of the warehouse. i. Masonry, carpentry, roofing, and other labour to construct the warehouse. 21,970 $15,000 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 o. Supervisory salary of construction supervisor (85% to warehouse, 5% to land improvements, 10% to office building) 59,000 Assume MMS depreciates buildings over 40 years, land improvements over 20 years, and hamiture over 8 years, all on a straight-line basis with zero residual value p. Office fumiture q. Transportation and installation of fumiture 112,300 2,300 Print Done Print Done Assume Multner's Moving & Storage Lid (MMS) of Regina, Saskatchewan, incumed the following costs in acquiring land, making land improvements, and constructing and fumishing its own storage warehouse Click the icon to view the costs of items a to i) (Click the icon to view the costs of items to q Requirement. 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 Start with items a through ned, enter items through and lastly calculate the totals for each asset category (Hold all decimals for interim calculations. Round your final answers to the nearest dollar. Leave any unused cells blank.) Land Item Land Improvements Warehouse Office Building Furniture b m n 0 P Item Land a. b. C. d. e. f. g m. n. 0. p. 9- Totals Land Improvements Warehouse Office Building Furniture X b. Landscaping (additional dirt and earth moving).. Items a. to i. a. Purchase price of 4 acres of land, including an old building that will be used for an office (and fair value is $265,000, building fair value is $75,000) c. Fence around the land acco set $295,000 Items j. to q Renovation of the office building Interest cost on construction loan for warehouse. $38.000 9.500 10,600 1. Landscaping prees and shrubs) 8,000 18,760 m. Parking lot, concrete walks, and lights on the property 56,300 d. Lawyer fee for title search on the land 600 e. Delinquent real estate taxes on the land to be paid by MMS n. Concrete, wood, and other materials used in the construction of the warehouse 236,000 7,400 f. Company signs at front of the company property 3,000 g. Building permit for the warehouse. 900 h. Architect fee for the design of the warehouse. i. Masonry, carpentry, roofing, and other labour to construct the warehouse. 21,970 $15,000 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 o. Supervisory salary of construction supervisor (85% to warehouse, 5% to land improvements, 10% to office building) 59,000 Assume MMS depreciates buildings over 40 years, land improvements over 20 years, and hamiture over 8 years, all on a straight-line basis with zero residual value p. Office fumiture q. Transportation and installation of fumiture 112,300 2,300 Print Done Print Done Assume Multner's Moving & Storage Lid (MMS) of Regina, Saskatchewan, incumed the following costs in acquiring land, making land improvements, and constructing and fumishing its own storage warehouse Click the icon to view the costs of items a to i) (Click the icon to view the costs of items to q Requirement. 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 Start with items a through ned, enter items through and lastly calculate the totals for each asset category (Hold all decimals for interim calculations. Round your final answers to the nearest dollar. Leave any unused cells blank.) Land Item Land Improvements Warehouse Office Building Furniture b m n 0 P Item Land a. b. C. d. e. f. g m. n. 0. p. 9- Totals Land Improvements Warehouse Office Building Furniture
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Related Book For
Financial Accounting
ISBN: 978-0133472264
5th Canadian edition
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
Posted Date:
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