Problem 15-1 (AICPA Adapted) Trisha Company made the following quiaitions during year * Parchased for PS,400,000, ineluding appraiser fe Po0,000, warehone building and the land cn which located. The land had an appraised value of P2,000.000 and ori cot of PL,400.000 The building had an appraised v of Pa,000,000 and original coet of P2,800,000. * Purehaed an office building and the land on which located for P7,500,000 cash and assumed an exis P2.00,000 mortgage For realty tax purposes, the property ia asseese P.000,000, 60% of which is allocated to the building * Aequired a tract of land in exchange for 25,000 shan Trisha Company with PI00 par value and a marke p of PI20 per share on the date of acquisition. The property tax bill indicated.ansessed valae of P2,40 for the land. L What is the total coet of land? A 100,000 b 8500.000 e. 9,000,000 d. 8660,000 2 What is the total cost of building? a 870,000 9240000
Problem 15-1 (AICPA Adapted) Trisha Company made the following quiaitions during year * Parchased for PS,400,000, ineluding appraiser fe Po0,000, warehone building and the land cn which located. The land had an appraised value of P2,000.000 and ori cot of PL,400.000 The building had an appraised v of Pa,000,000 and original coet of P2,800,000. * Purehaed an office building and the land on which located for P7,500,000 cash and assumed an exis P2.00,000 mortgage For realty tax purposes, the property ia asseese P.000,000, 60% of which is allocated to the building * Aequired a tract of land in exchange for 25,000 shan Trisha Company with PI00 par value and a marke p of PI20 per share on the date of acquisition. The property tax bill indicated.ansessed valae of P2,40 for the land. L What is the total coet of land? A 100,000 b 8500.000 e. 9,000,000 d. 8660,000 2 What is the total cost of building? a 870,000 9240000
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 3PA: During the current year, Alanna Co. had the following transactions pertaining to its new office...
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