1 QUE Sunland Company acquires land for $85700 cash. Additional costs are as follows: Removal of shed $ 250 Filling and grading 1600 Salvage value of lumber of shed 160 Broker commission 1100 Paving of parking lot 9700 Closing costs 570 Sunland will record the acquisition cost of the land as     $87370.   $89380.   $89060.   $95400. 2 QUE A company has the following assets: Buildings and Equipment, less accumulated depreciation of $2010000 $9520000 Copyrights 959000 Patents 4100000 Timberlands, less accumulated depletion of $2760000 4870000 The total amount reported under Property, Plant, and Equipment would be     $19449000.   $15349000.   $14390000.   $18490000.

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.