D2. After planning to build a new plant, Kallisto Backpack Manufacturing purchased a large lot on which a small building waslocated. The negotiated purchase price for this real estate was $2,150,000 for the lot plus $670,000 for the building. Thecompany paid $94,000 to have the old building torn down and $124,000 for levelling the lot. Finally, it paid $3,830,000 inconstruction costs, which included the cost of a new building plus $234,000 for lighting and paving a parking lot next to thebuildingPresent a single journal entry to record the costs, incurred by Kallisto, all of which were paid in cash (assume a date ofMarch 10, 2023, for your entry)View transaction list View journal entry worksheetNo1DateMarch 10, 2023LandBuildingGeneral JournalDebitCreditb

Journal entry is the first stage of accounting process.Journal entry used to record business…

After planning to build a new plant, Kallisto Backpack Manufacturing purchased a large lot on which a small building located. The negotiated purchase price for this real estate was $2,150,000 for the lot plus $670,000 for the building. Th company paid $94,000 to have the old building torn down and $124,000 for levelling the lot. Finally, it paid $3,830,000 construction costs, which included the cost of a new building plus $234,000 for lighting and paving a parking lot next to building Present a single journal entry to record the costs, incurred by Kallisto, all of which were paid in cash (assume a date of March 10, 2023, for your entry) View transaction list View journal entry worksheet No Date General Journal Debit Credit

After planning to build a new plant, Kallisto Backpack Manufacturing purchased a large lot on which a small building located. The negotiated purchase price for this real estate was $2,150,000 for the lot plus $670,000 for the building. Th company paid $94,000 to have the old building torn down and $124,000 for levelling the lot. Finally, it paid $3,830,000 construction costs, which included the cost of a new building plus $234,000 for lighting and paving a parking lot next to building Present a single journal entry to record the costs, incurred by Kallisto, all of which were paid in cash (assume a date of March 10, 2023, for your entry) View transaction list View journal entry worksheet No Date General Journal Debit Credit

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 7PB: Tree Lovers Inc. purchased 2,500 acres of woodland in which it intends to harvest the complete...

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