escQUESTION 10A company incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office building:Purchase price of the landSale of salvaged parts already on landDemolition of the old buildingGround-breaking ceremony (food and supplies)Land preparation and levelingWhat is the total capitalized cost of the land?O $437,500O $417,500O $439,000O $427,500O None of the aboveQUESTION 11Click Save and Submit to save and submit. Click Save All Answers to save all answers.!1☀F1A2N*F2WSw #380F3XED$4F4RC%5F↓F5MacBook AirV>6F6GY&7F7HB$ 400,00020,00040,0001,5007,500* 00*DII8F8N(9F9KM QUESTION 11On August 1, 2024, a company lends cash and accepts a $15,000 note receivable that offers 14% interest and is due in nine months. How wouldthe company record the year-end adjusting entry to accrue interest in 2024? (Do not round intermediate calculations. Round youranswer to the nearest dollar amount.)OSCInterest RevenueO Interest Receivable.OInterest ReceivableO Interest Receivable.<OInterest Revenue.Interest RevenueInterest Receivable.Interest RevenueInterest RevenueInterest ReceivableClick Save and Submit to save and submit. Click Save All Answers to save all answers.!10QAKI2N1F2WSw #380F3XEHD$4aF4RC2,100%875FL9458759455F52,100875< 6945875945MacBook AirGMVY&7BF7H* 008UDIIFBJN-(9FOK)OMSave All AnOAF10

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A company incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office building: Purchase price of the land Sale of salvaged parts already on land Demolition of the old building Ground-breaking ceremony (food and supplies) Land preparation and leveling What is the total capitalized cost of the land? O $437,500 O $417,500 O $439,000 O $427,500 None of the above QUESTION 11 Click Save and Submit to save and submit. Click Save All Answers to save all answers. $ 400,000 20,000 40,000 1,500 7,500

A company incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office building: Purchase price of the land Sale of salvaged parts already on land Demolition of the old building Ground-breaking ceremony (food and supplies) Land preparation and leveling What is the total capitalized cost of the land? O $437,500 O $417,500 O $439,000 O $427,500 None of the above QUESTION 11 Click Save and Submit to save and submit. Click Save All Answers to save all answers. $ 400,000 20,000 40,000 1,500 7,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Swifty Supply Company, a newly formed corporation, incurred the following expenditures related to Land, to Buildings, and to Machinery and Equipment. Abstract company's fee for title search Architect's fees Cash paid for land and dilapidated building thereon Removal of old building Less: Salvage Interest on short-term loans during construction Excavation before construction for basement Machinery purchased (subject to 2% cash discount, which was not taken) Freight on machinery purchased Storage charges on machinery, necessitated by noncompletion of building when machinery was delivered New building constructed (building construction took 6 months from date of purchase of land and old building) Assessment by city for drainage project Hauling charges for delivery of machinery from storage to new building Installation of machinery Trees, shrubs, and other landscaping after completion of building (permanent in nature) $42,000 11,550 $1,092 6,657 182,700 30,450 15,540 39,900 115,500 2,814…
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A parcel of corporate land was recently dedicated as the new plant site. What cost allocation should the land receive, based on the following: original cost of $270,000, market value of $370,000 net book value of $270,000, a recent offer to purchase for $320,000. $370,000 $345,000 $320,000 $270,000
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