HB 358 Individual assignment #2

attached in ss htnakx for the help appreciated it j2 t2ji g 2igi ll

QUESTION 13 Nancy is employed by a large corporation as a sales representative. She is paid a salary of $70,000 in 2023. She is required to have a home office and she estimates that her work related use at 375 square feet of her 1,500 square foot house. Total expenses for 2023 were as follows: Mortgage payments (40% principal, 60% interest) Home owner's insurance Utilities Roof repair Municipal property tax $24,000 900 1,500 800 5,000 As Nancy's compensation does not include any commissions, she is unable to claim some of these expenses as an employment expense. If instead, her compensation of $70,000 was in the form of commissions, she would be able to claim extra employment expenses of: $1,675. O $1,475. O $5,075. O $3,600.

1. Compute the cost of the new building on December 31, 2021 and June 30, 2022. 2. Compute the interest expense for 2021 and 2022

Do not give image format

3

dont give answer in image format

Problem 3: Galore Company ventured into construction of a condominium in Makati which is rated as the largest state-of- the-art structure. The entity's board of directors decided that instead of selling the condominium, the entity would hold this of earning rentals by letting out space to business executives in the area. property for purposes The construction of the condominium was completed and the property was placed in service on January 1 2019. The cost of the construction was P50,000,000. The useful life of the condominium is 25 years and its residual value is P5,000,000. An independent valuation expert provided the following fair value at each subsequent year-end: 55,000,000 53,000,000 60,000,000 December 31, 2019 December 31, 2020 December 31, 2021 Required: Prepare all indicated entries for 2019, 2020 and 2021 assuming the investment property is accounted for under the cost model and fair value model.

A-7

2. REAL sells certain building naming rights and advertising opportunities within the REAL campus to various organizations. We have just received a cheque of $100,000 from "Sponsor A" in December 2023 for a brand new 2-year sponsorship agreement that starts in January 2024. The cheque amount covers the first 3 months and the remaining 21 months will be paid 100,000 every quarter until the end of the contract. a. Please prepare the journal entries that are needed for December 2023. b. Please prepare the journal entries that are needed for January 2024.

8

#9 Issue:  Linda Tristan, assistant controller for Ag-Growth, Inc., a biotechnology firm, has concerns about the accounting analysis for the firm’s purchase of a land site and building from Hylite Corporation. The price for this package purchase was $1,800,000 cash. A memorandum from the controller, Greg Fister, stated that the journal entry for this purchase should debit Land for $1,350,000, debit Building for $450,000, and credit Cash for $1,800,000. The building, a used laboratory facility, is to be depreciated over 10 years with a zero salvage value.   The source documents supporting the transaction include two appraisals of the property, one done for Ag-Growth and one done for Hylite Corporation. The appraisal for Ag-Growth valued the land at $1,000,000 and the building at $500,000. The appraisal for Hylite Corporation (done by a different appraiser) valued the land at $1,500,000 and the building at $750,000. Negotiations between the two firms finally settled on an overall price…

please dont give handwritten answer thank you

Dinesh bhai

Show the solution in good accounting form

Show the solution in good accounting form

Vinubhai

SUBJECT: ENGINEERING ECONOMICS NOTES: 2 DECIMAL ONLY MUST BOX THE FINAL ANSWERS SOLUTIONS MUST BE CLEAR AND UNDERSTANDABLE MUST HAVE GIVEN, FORMULA TO BE USED, SOLUTIONS, ANSWER   QUESTION: A commercial rental property is offered for sale and consists of a two-storey building in a business district of small city. A prospective purchaser estimated that if he buys his property he will hold it for about 10 years. He estimates that the average annual receipts from rentals during this period will be P70,000 and the average annual expenses for all purposes in connection with ownership and operation will amount to P27,000. He believes that the property can be sold for a net of P400,000 at the end of 10 years. He considers a minimum rate of return of 7%. On the basis of the above estimates, using the Annual Worth method, what price for this property would just permit him to recover his investment at 7% return?

Answer the situation

Please don't give image format

12 Bridge City Consulting bought a building and the land on which it is located for $195,000 cash. The land is estimated to represent 70 percent of the purchase price. The company paid $20,000 for building renovations before it was ready for use. Part 1 of 2 Required: 5 polnts 2. Prepare the journal entry to record all expenditures. Assume that all transactions were for cash and they occurred at the start of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) еВook Hint View transaction list Print Journal entry worksheet A > References Record all expenditures for the land and buildings assuming all transactions were paid for with cash and occurred at the start of the year. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal

On January 1, 2024, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2025. Expenditures on the project were as follows: January 1, 2024   $ 1,040,000March 1, 2024   810,000June 30, 2024   450,000October 1, 2024   700,000January 31, 2025   1,125,000April 30, 2025   1,440,000August 31, 2025   2,610,000On January 1, 2024, the company obtained a $3 million construction loan with a 10% interest rate. Assume the $3 million loan is not specifically tied to construction of the building. The loan was outstanding all of 2024 and 2025. The company’s other interest-bearing debt included two long-term notes of $5,900,000 and $7,900,000 with interest rates of 7% and 9%, respectively. Both notes were outstanding during all of 2024 and 2025. Interest is paid annually on all debt. The company’s fiscal year-end is December 31. Required:Using the WEIGHTED-AVERAGE INTEREST METHOD, answer the following…

Question #2: You find an Offering Memorandum for a warehouse Property in your neighborhood. The Asking Price is $750,000 and, according to the Offering Memo, the property produces $4,375 in monthly Net Operating Income.

mmarly >> All Bookmarks Problem 6-42 (Algorithmic) (LO. 3) Henrietta, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of expanding the chain into a city in the Northeast. She incurs $53,000 of expenses associated with this investigation. Based on the regulatory environment for hotels in the city, she decides not to expand. During the year, she also investigates opening a restaurant that will be part of a national restaurant chain. Her expenses for this are $53,000. She proceeds with opening the restaurant, and it begins operations on May 1. Determine the amount that Henrietta can deduct in the current year for investigating these two businesses. In your computations, round the per-month amount to two decimal places then use rounded amount in subsequent computations. Enter your final answers to the nearest whole dollar. a. The deductible amount of investigation expenses related to expansion of her hotel chain into another city: $ b. The…

kindly answer 1 and 2 question thank you

The question number 1 I already aswered, please send me just the 2 question.  Mack Company, HappyDay’s branch, plans to invest $50,000 in land that will  produce annual rent revenue equal to 15 percent of the investment, starting  on January 1, Year 3. The revenue will be collected in cash at the end of each year,  starting December 31, Year 3. Mack can obtain the cash necessary to purchase the  land from two sources. Funds can be obtained by issuing $50,000 of 10 percent,  five-year bonds at their face amount. Interest due on the bonds is payable on  December 31 of each year with the first payment due on December 31, 2021.  Alternatively, the $50,000 needed to invest in land can be obtained from equity  financing. In this case, the stockholders (holders of the equity) will be paid a $5,000  annual cash dividend. Mack Company is in a 30 percent income tax bracket.             1.       Prepare an income statement and statement of cash flows for Mack Company…

answer in text form please (without image)

sh1 please help me T  Thankyou

Please DO NOT USE TABLE BUT CLEARLY EXPLAIN YOUR SOLUTION

Transactions for the first 3-month period of calendar year 2021 for Sta Cruz Branch of XYZ Company. 1. Home Office put up a branch with initial investment of cash 400,000; and equipment 180,000, and furniture & fixtures, 100,000, both to be booked in the branch. 2. Home office purchased equipment for use by the branch and to be carried in the Home Office books. Acquisition cost is 80,000. 3. Branch purchased 160,000 worth of merchandise for 50% cash and balance on account. Delivery charge of 3,000 paid by the branch. 4. Home Office ordered office table and chairs worth 20,000 to be carried in branch books. The branch paid cash for the items upon delivery directly to the branch. Delivery charge of 800 was also paid by the branch. 5. Branch purchased computers and printers worth 110,000 for use of the branch and to be booked in the Home Office. 6. Home Office transferred merchandise worth 320,000. Home Office paid for the freight of 5,000 to be taken up in branch books. 7. Branch total…

On January 1, 2024, the Mason Manufacturing Company began construction of a building to be used as its office headquarters. The building was completed on September 30, 2025. Expenditures on the project were as follows: January 1, 2024 March 1, 2024 June 30, 2024 October 1, 2024 January 31, 2025 April 30, 2025 August 31, 2025 $ 2,050,000 1,800,000 2,000,000 1,800,000 450,000 783,000 1,080,000 On January 1, 2024, the company obtained a $5,000,000 construction loan with a 9% interest rate. The loan was outstanding all of 2024 and 2025. The company's other interest-bearing debt included two long-term notes of $6,000,000 and $9,000,000 with interest rates of 5% and 8%, respectively. Both notes were outstanding during all of 2024 and 2025. Interest is paid annually on all debt. The company's fiscal year-end is December 31. Required: 1. Calculate the amount of interest that Mason should capitalize in 2024 and 2025 using the specific interest method. 2. What is the total cost of the building?…

CHOOSE THE LETTER OF ANSWER Galore Company ventured into construction of a condominium in Makati which is rated as the largest state-of-the art structure. The board of directors decided that instead of selling the condominium, the entity would hold this property for purposes of earning rentals by leasing out space to business executives in the area. The construction of the condominium was completed and the property was placed in service on January 1, 2020. The cost of the condominium was P50,000,000. The useful life of the condominium is 25 years and the residual value is P5,000,000. An independent valuation expert provided the following fair value at each subsequent year-end:December 31, 2020 55,000,000December 31, 2021 53,000,000December 31, 2022 60,000,000 Under the cost model, what amount should be reported as annual depreciation of investment property? a. 1,800,000b. 2,000,000c. 2,200,000d. 0 under the fair Value model, what amount should be recognized as gain from change in fair…