You have been asked to develop a pro forma statement of cash flow for West Office Plaza. The information given to you is listedbelow.Property Information:WEST OFFICE PLAZARentable AreaAgeNumber of StoriesNumber of Tenants312,000 square feet8 years1540Financial Information:Base Rent AverageOther Income/Parking/StorageExpenses Recoverable from TenantsCurrent Vacancy$ 20 per square feet$ 2.10 per square feet$ 3.10 per square feet5%Expenses:Management/Administration/Security/OwnershipProperty TaxesInsuranceGeneral Operations/Leasing Expense/MarketingUtilitiesJanitorial/cleaningBusiness TaxesOther:Recurring CAPEX/Improvement Allowance$ 696,206$ 678,000$ 431,200$ 670,000$ 1,162, 100$ 492,000$ 113,000$ 703,000Required:a. Develop a pro forma statement of cash flow for a base year showing net operating income (NOI) for West Office Plaza.

Cash flow Statement The purpose of preparing the cash flow statement to know the details of total…

Answered: Expenses Recoverable from Tenants $…

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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Rodriguez Company pays $347,490 for real estate with land, land improvements, and a building. Land is appraised at $189,000; land improvements are appraised at $63,000; and the building is appraised at $168,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three assets. Note: Round your "Apportioned Cost" answers to 2 decimal places. Appraised Value Percent of Total Appraised Value x Total Cost of Acquisition = Apportioned Cost Land $ 189,000 45% Land improvements 63,000 15% Building 168,000 40% Totals $ 420,000 100% 0.00
You took a loan to buy a truck. Which components of loan and the truck shall be included in the general overhead budget to find your net taxable income? Select 2correct answer(s) Question options: Cost of the truck Depreciation of the truck loan payment Interest on the loan
What is the Net Effective Rent using the following data? Five year gross step up lease with expense stops Gross rents Yr. 1 = $23.00, increasing 3% each year beginning Yr. 2 Operating Expense Yr. 1 $12.00, increasing 2% each year beginning Yr. 2 %3! Expense Stop at $12.00 Round to two decimals for the rents. O $12.77 O $11.84 O $12.29 O $12.56
Using completed-contract method: Record the journal entries for ACE corporation for 2001, 2002, and 2003 Record the partial balance sheet for 2003 for just the Asset section in a A. В. suitable format ACE Construction Corporation Contract Price: $1,500,000 2001 2002 2003 Costs incurred during the current year Estimated costs to complete at year-end 1,000,000 Progress billings during year Collections on billings during the year $1,350,000 $1,360,000 460,000 575,000 555,000 $1,365,000 300,000 270,000 625,000 675,000
Required information [The following information applies to the questions displayed below.] Karane Enterprises, a calendar-year manufacturer based in College Station, Texas, began business in 2020. In the process of setting up the business, Karane has acquired various types of assets. Below is a list of assets acquired during 2020: Date Placed in Asset Cost Service $ 360,000 1,602,000 82,000 Office furniture Machinery Used delivery truck* *Not considered a luxury automobile. 02/03/2020 07/22/2020 08/17/2020 During 2020, Karane was very successful (and had no §179 limitations) and decided to acquire more assets in 2021 to increase its production capacity. These are the assets acquired during 2021: Date Placed in Asset Cost Service Computers and information system Luxury autot Assembly equipment Storage building $ 442,000 90,500 1,410,000 03/31/2021 05/26/2021 08/15/2021 11/13/2021 700,000 tUsed 100% for business purposes. Karane generated taxable income in 2021 of $1,785,000 for purposes…
Rodriguez Company pays $331,695 for real estate with land, land improvements, and a building. Land is appraised at $243,000; land improvements are appraised at $81,000; and the building is appraised at $216,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Appraised Value Percent of Total Appraised Value x Total Cost of = Apportioned Acquisition Cost Land Land improvements Building Totals Required 2 > Required 1
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 $2,000 b. Cost of real estate acquired as a plant site: Land 280,000 Building (to be demolished) 55,000 c. Delinquent real estate taxes on property, assumed by purchaser 15,000 d. Cost of razing and removing building acquired in (b) 5,000 e. Proceeds from sale of salvage materials from old building 3,000 * f. Special assessment paid to city for extension of water main to the property 29,000 g. Architect’s and engineer’s fees for plans and supervision 60,000 h. Premium on one-year insurance policy during construction 7,000 i. Cost of filling and grading land 13,000 j. Money borrowed to pay building…
A Record the gross charges for patient services, all charged to Patient Accounts Receivable, amounting $1,675,000. B Record the estimated contractual adjustments for patient services with third-party payors amounting $405,000. C Record the hospital estimated implicit price concessions would total $35,000. D Charity services, not included in transaction 1, would amount to $66,000 had billings been made at gross amounts. E Other revenues received in cash were parking lot, $20,000; cafeteria, $35,000; gift shop, $5,000. F Record the cash gifts restricted by the donor for programs amounting $32,000 for the year. G Record the $50,000 technician salaries supporting the program. H Record the reclassification of assets in satisfaction of program restrictions. I Mortgage bond payments amounted to $50,000 for principal and $28,000 for interest. Assume unrestricted resources are used. J During the year, the hospital received, in cash, unrestricted…
Exercise 10-8 (Algo) Presented below is a partially completed Statement of Activities for a homeless shelter. Complete the Statement of Activities by filling in any missing amounts as needed. Revenues Contribution revenues Net assets released from restrictions Total revenues CENTERVILLE AREA HOMELESS SHELTER Statement of Activities For the Year Ended December 31, 2020 Expenses Temporary shelter program Self-sufficiency program Fund raising Administration Total expenses Increase in net assets Net assets January 1 Net assets December 31 Net Assets without Donor Restrictions $ 0 0 90,000 21,000 111,000 Net Assets with Donor Restrictions $ (30,000) (30,000) 0 28.150 14,650 42,800 Total $ 1,595,530 $ 0 1,595,530 1,037,400 372,200 8,200 59,580 1,477,380 118,150 35,650 153,800
Muscat Municipality issued a purchase order for supplies with an estimated cost of RO 6,000. When the supplies were received, the accompanying invoice indicated an actual price of RO 5,950. What amount should debit to Budgetary Fund Balance Reserve for Encumbrances (BFBR) after the supplies and invoice were received? a. RO - 50 b. RO 50 c. None of the options d. RO 6,000
Refer to the highest and best use analysis in table below. Use (a)Year 1 NOI (b)(r−g) (c)R (a÷c = d)Implied Property Value (PV) (e)Construction Cost of Building (d) − (e)Implied Land Value(Residual) Office $ 510,000 0.13−0.03 0.10 $ 5,100,000 $ 4,000,000 1,100,000 Retail $ 610,000 0.12−0.04 0.08 7,625,000 $ 6,750,000 875,000 Apartment $ 415,000 0.12−0.03 0.09 4,611,111 $ 3,000,000 1,611,111 Warehouse $ 410,000 0.10−0.02 0.08 5,125,000 $ 4,000,000 1,125,000 Required: Suppose that the warehouse income would grow at 3 percent per year instead of 2 percent. a. Does this change the highest and best use of the site? multiple choice Yes No b. What is the new implied land value? (Do not round intermediate calculations. Round your final answer to the nearest dollar amount.)
2 Rodriguez Company pays $363,285 for real estate with land, land improvements, and a building Land is appraised at $193,500, land improvements are appraised at $86,000, and the building is appraised at $150,500. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three assets. Note: Round your "Apportioned Cost" answers to 2 decimal places. Land Land improvements Building Totals Appraised Value Percent of Total Appraised Value Total Cost of Acquisition Apportioned Cost 0% Required 1 S 0.00 Required 2 >

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