Assignment #1 -Solution

Question No. 18

7:57 En X Basic Appraisal Principle... LO : appraisaltests.com Basic Appraisal Princi If a property has a net operating income of $50,000 and the capitalization rate is 9.5%, what is the estimated value? (rounded) $525,000 $50,000 $475,000 $600,000

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PROBLEM 38Barcelona Company owns the following properties on December 31, 2020:a. Land intended for sale                                                        - P1,000,000b. Building, in the process of construction for rentals             - 3,000,000c. Equipment for lease under operating lease                           - 500,000d. Land held for undetermined use                                         - 2,500,000e. Building intended for leased out under finance lease         - 2,800,000f. Land held for future factory site                                           - 1,200,000g. Building use for rentals. A small part of the buildingis used as a satellite administrative office                               - 4,000,000h. Hotel building on which Barcelona Company providesmonthly maintenance services                                                - 3,500,000 Requirements:1. How do you classify each of the items mentioned above?2. Compute the investment property on December 31, 2020.

What do i enter for the actual interest part

0.4KB/s ll 4G+ 1:03 PM 65 וח 00:58:13 Remaining Multiple Choice Which of the following items is not chargeable to the land account? Expenditures for fence, water system, sidewalk and pavement Cost of survey by engineers Broker's commission and fees for registration and title transfer Attorney's fee and any other expenditures for establishing clean title 57 of 75 II

Question 15

Question Content AreaDuring 2023, Jamal and Judy, a married couple, decided to sell their residence, which had a basis of $300,000. They had owned and occupied the residence for 20 years. To make it more attractive to prospective buyers, they had the outside painted in April at a cost of $6,000 and paid for the work immediately. They sold the house in May for $880,000. Broker's commissions and other selling expenses amounted to $53, 000. Since they both are age 68, the couple decides to move into a rented apartment. What is the recognized gain? a. $17,000 b. $527,000 c. $0 d. $27,000

As the owner of a business, Karen needs fire insurance. Her building is worth $726,000 and the contents are valued at $673,000. Her agent placed the building in structural classification B and area rating 2. Use Table 19-4 to calculate her total premium. Round your answer to the nearest cent.

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Question No. 13

* CengageNOW2 | Online teachin x + ignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false 它 ☆ SU login O Digital University |.. Tenant Portal - Login 围 eBook Show Me How E Print Item Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $93,600 has an estimated residual value of $3,600 and an estimated useful life of 10 years. Determine the following: a. The depreciable cost 90,000 10 b. The straight-line rate c. The annual straight-line depreciation 90,000 X Feedback V Check My Work ifference betwee the asset's initial cost and its residual value. The residual value is the estimated value at Depreciable cost is the the end of the useful life. Straight-line depreciation allocates the depreciable cost of the asset equally over the expected useful life. 10:22 PM 46% -2°F 12/16/2021 F11 F10 F8 F7 1%/ 6. 4. R. * CO 5

Year 2 5678 A WN 3 4 3-Year 33.33% 44.45 14.81 7.41 Property Class 5-Year 20.00% 32.00 19.20 11.52 11.52 5.76 7-Year 14.29% 24.49 17.49 12.49 8.93 8.92 8.93 4.46

Problem 26-5 (IAA) (AA) 605 oldoy Nicko Company purchased a tract of land as a factory site. An old building was demolished and construction began on the new building. Purchase price of land and an old building Fair value of old building Cost of demolishing old building Title insurance and legal fees to purchase land 4,500,000 250,000 300,000 200,000 950,000 8,000,000 100,000 Architect fee New building construction cost Survey before construction Building permit or payment to city hall for approval of building construction Excavation before new construction Liability insurance during construction New fence surrounding the new building Driveway, parking bay and safety lighting Cost of trees, shrubs and other landscaping Cost of lighting and signage 150,000 200,000 100,000 100,000 550,000 300,000 100,000 1. What is the cost of the land? a. 4,550,000 b. 4,800,000 c. 4,850,000 d. 4,450,000 2. What is the cost of the new building? a. 9,700,000 b. 9,750,000 c. 9,800,000 d. 9,950,000 3. What…

ng Objective 1 S10-1 Determining the cost of an asset Highland Clothing purchased land, paying $96,000 cash and signing a $300,000 note payable. In addition, Highland paid delinquent property tax of $1,100, title insurance costing $600, and $4,600 to level the land and remove an unwanted building. Record the journal entry for purchase of the land.

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Oa. $119,42 Ob. $123,434 Oc. $159,374 Od. $138,273 48 6 A building with an appraisal value of $138,273 is made available at an offer price of $159,374. The purchaser acquires the property for $35,940 in cash, a 90- day note payable for $24,302, and a mortgage amounting to $59,197. The cost of the building to be reported on the balance sheet is Y H Q Search & 1- 7 U ra 8 L 1914 K IAA ( 9 fio ▶11 O O J L 99+ Std... PAI P MLA Formatting an... ins prt sc General Format // P.... ← delete Previous backspace ENG INTL home InterpreterDetails enter Next > num lock 5:11 PM 2/19/2023 end 7 home C

A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentM... Q ☆ Tp * pter 10 HW eBook Allocating Payments and Receipts to Fixed Asset Accounts The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale ceramic business. The receipts are identified by an asterisk. a. Fee paid to attorney for title search $3,200 b. Cost of real estate acquired as a plant site: Land 335,600 Building (to be demolished) 31,900 C. Delinquent real estate taxes on property, assumed by purchaser 18,900 Cost of tearing down and removing building acquired in (b) 5,300 e. Proceeds from sale of salvage materials from old building 3,100* Special assessment paid to city for extension of water imain to the property 12,600 9. Architect's and engineer's fees for plans and supervision 46,100 h. Premium on one-year insurance policy during construction 4,400 i. Cost of filling and grading land 18,500 Money borrowed to pay building contractor 787,000* k. Cost of…

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