cost of land

Q: Samtech Manufacturing purchased land and building for $3 million. In addition to the purchase price,…

A: Based on the fair value of the land building as required in one we divided the cost in ratio of fair…

Q: Ramirez Company made the following payments related to a land acquisition: Purchase price $7,500…

A: Items to be included in Capitalizable cost of land :-  Purchase price  Past due taxes Title search…

Q: The Oscar Corporation acquired land, buildings, and equipment from a bankrupt company at a lump-sum…

A: Total cost  to be assigned = P20,000,000 + P240,000 Total cost  to be assigned = P20,240,000

Q: Plant acquisitions for selected companies are as follows: 1.   Sandhill Industries Inc. acquired…

A: Journal entries are defined as recording or posting of the business transactions into the books of…

Q: Broncos Corporation acquired the following assets associated with a manufacturing facility for a…

A: Computation of the Intial value of the patent is as follows :

Q: cquire the land, Snow Company paid a P15,000 commission to a real estate agent. P25,000 were…

A: Land D   Particulars Amount Purchase Price 220,000 Agent's Commission 15,000 Cost of…

Q: On February 3, Heidel Co. paid $750,000, check #2050 to buy the plant assets of Rogers Company that…

A: Percent of total appraised value = (Appraised value of asset / Total Appraised value of all…

Q: Question 7.17 please explained in detail.

A: Assets: Assets are the resources of an organization used for the purpose of business operations.…

Q: The Oscar Corporation acquired land, buildings, and equipment from a bankrupt company at a lump-sum…

A: Total cost to be assigned = P20,000,000 + P240,000 Total cost to be assigned = P20,240,000

Q: Uy Company acquired a tract of land on which was located an office building, a warehouse, and…

A: A lump-sum payment is a total amount that is paid by the buyer to the seller for the acquired…

Q: Plant acquisitions for selected companies are as follows. 1. Bramble Industries Inc. acquired land,…

A: Journal entry: Journal is a book of prime entry or a book of original entry in which transactions…

Q: On January 1, 2015, Micah Joy Mining Corp. acquired property containing mineral resources for…

A: On 01.01.2015, Micah Joy Mining Corp. acquired property = P150000000 Cost pf exploration = P8000000…

Q: On Jan. 1, Town Company purchased for P5,400,000, including appraiser fee of P50,000, a warehouse…

A: The initial measurement of the land and warehouse building will be total cost of acquisition…

Q: Beatrice Co. made the following purchases for the year: - Purchased for Php5,400,000, including…

A:

Q: ilding, equipment and inventories on raw material. For proper accounting purposes, each asset was…

A: Inventory's percentage in total Assets acquired = Value of Inventory/ Value of Total Assets

Q: Carver Inc. purchased a bulkling and the land on which the bulldıng Is situated for a total cost of…

A: Answer --   Part B - Amount of Purchase cost to be allocated to Land and the amount to allocate the…

Q: What is the total cost of land improvements at year-end? a. 1,650,000 b. 900,000 c. 750,000 d.…

A: As per our protocol we provide solution to the one question only but as you have asked various…

Q: II. Broncos Corporation acquired the following assets associated with a manufacturing facility for a…

A: Solution II Lumpsum price = $9,000,000 Aggregate of standalone prices = $4,000,000 + $2,000,000 +…

Q: Catherine Company acquired a coal mine at a cost of P25,000,000. Intangible development cost totaled…

A: Depletion rate:   To compute a unit depletion rate, subtract the salvage value of the asset from…

Q: Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase price,…

A:

Q: Pinewood Company purchased two buildings on four acres of land. The lump-sum purchase price was…

A: Assets: Property or things owned by company are called Assets. Example: Buildings. Land etc

Q: Knight Company made the following acquisitions during the year Purchased for P5,400,000 , excluding…

A: SOLUTION- LAND IS A NON CURRENT TANGIBLE FIXED ASSETS WHICH REPRESENTS THE REAL ESTATE OWNED BY THE…

Q: Pinewood Company purchased two buildings on four acres of land. The lump-sum purchase price was…

A: Initial value of land and buildings shall be allocated based on their proportion of fair values.

Q: On January 1, 2018, the Blackstone Corporation purchased a tract of land (site number 11) with a…

A: Requirement 1:

Q: On April 1, Proton Corporation purchased for P855,000 a tract of land on which was located a…

A: Fixed assets are assets that are purchased for a lengthy period of time and are unlikely to be…

Q: Health Co. purchased land and building at a lump-sum price of P6,000,000. After the acquisition,…

A: Introduction: An acquisition is a situation in which a firm buys a major proportion of shares of…

Q: ABC Co. acquired land, buildings, and equipment from XYZ Co. at a lump-sum price of P1,800,000. ABC…

A: Answer Lum- sum price = P1,800,000 appraisal = P120,000

Q: Samtech Manufacturing purchased land and building for $3 million. In addition to the purchase price,…

A: Land is the non-current asset that is usually held by the entity for using the same to run its…

Q: Atchison Corporation purchased equipment, a building, and land for $1,000,000 ($200,000 in cash and…

A: The journal entries are prepared to record the day to day transactions of the business.

Q: On January 1,2015, Rekto Corporation acquired a building at a cost of $22,000,000. The building has…

A: Annual depreciation = (Cost of the assets - residual value)/ life of the assets = (P22,000,000 -…

Q: Sunset Co. Acquired land with old building for 6,000,000. After the acquisition, Sunset Co.…

A: Calculation of Total Cash Expended :

Q: On January 1,2015, ABC Corporation acquired a building at a cost of P 22,000,000. The building has…

A: Annual depreciation = (Cost of the assets - residual value)/ life of the assets = (P22,000,000 -…

Q: Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase price,…

A: 1. Calculation of Initial Valuation: Total Purchase price = Land and Building Purchase Cost + Title…

Q: On January 1,2015, ABC Corporation acquired a building at a cost of P 22,000,000. The building has…

A: Annual depreciation = (Cost of the assets - residual value)/ life of the assets = (P22,000,000 -…

Q: At the beginning of current year, Melancholy Company reported the following property, plant and…

A: The question is related to Property Plant and Equipment. The details are given regarding the same.

Q: Nathan Jacob’s Company paid $450,000 to acquire land, building, and equipment. At the time of the…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Garrett Corporation paid $300,000 to acquire land, buildings, and equipment. At the time of…

A: 1. Formulas:

Q: Blackpink Company purchased land with a building on it, for P2,280,000. It was reliably determined…

A: Here while analyzing the data it is understand that there is the purchase of land and building and…

Q: On January 1, 2021, EFG Company acquired a building for P1,200,000.  Professional fees for legal…

A: For the Acqusition cost of investment property according to IFRS standards  which indicating that…

Q: Iris Company acquired property at the beginning of current year which contains mineral deposit. The…

A: based on the amount of extraction depletion will be calculated

Q: Garrett paid $20,000 for an appraisal, which revealed the following values: land, $100,000;…

A: In the above questions we have asked to pass journal entries on revaluation of property,plant and…

Q: Schwartzkopf Co. purchased for $2,200,000 propertythat included both land and a building to be used…

A:

Q: Carver Inc. purchased a building and the land on which the building is situated for a total cost of…

A: The accounting term is lump sum purchase. Lump Sum Purchase: When the assets are purchased or…

Q: Accounting for Property, Plant and Equipment During the first few days of the year, Coast Company…

A: Cost of acquisition will include all those expenditures incurred to bring the asset to its current…

Q: During its inception, Devon Company purchased land for $250,000 and a building for $200,000. After…

A: Calculate the amount of investment in Devon Company to be reported by Regan Company: Land…

Q: Hayes Industries purchased the following ­assets and constructed a building as well. All this was…

A: Introduction Journal entries for recording the given assets details are as follows