Hi expert please give me answer general accounting question Westbrook Manufacturing hired an engineering firm to design plans and aconstruction company to build a new warehouse facility on property itcurrently owns. The following data relates to the facility:•Price paid to the construction company: $425,000⚫Engineering design fees: $31,500•Building permits and inspection fees: $9,750⚫ Land grading and site preparation: $22,800⚫ Utility connection fees: $12,400What is the total cost of the new warehouse facility?

Step 1: Definition of Total Cost of a Warehouse FacilityThe total cost of constructing a warehouse…

Answered: Westbrook Manufacturing hired an…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

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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During the current year, Alanna Co. had the following transactions pertaining to its new office building. A. What should Alanna Co. record on its books for the land? The total cost of land includes all costs of preparing the land for use. The demolition cost of the old building is added to the land costs, and the sale of the old building scrap is subtracted from the land cost. B. What should Alanna Co. record on its books for the building?
Martini Company incurred the following costs in purchasing a land as a factory site:Purchase price 2,400,000Cost of tearing down old building 240,000Legal fee for title investigation 15,000Title insurance 10,000 Architect fee 125,000Liability insurance during construction 25,000Excavation cost 40,000Payment to building contractor 8,800,000Special assessment by city for public improvement 30,000Interest cost during construction 300,000 What is the cost of the building?
A company purchased a high-speed industrial centrifuge at a cost of $370,000. Shipping costs totaled $12,000. Foundation work to house the centrifuge cost $7,400. An additional water line had to be run to the equipment at a cost of $3,300. Labor and testing costs totaled $6,300. Materials used up in testing cost $3,800. The capitalized cost is?
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Nelson Company purchased equipment and incurred the following costs: Cash price = $55,000 Sales taxes = $4,400 Insurance during transit = $400 Site preparation, installation, and testing= $2,300What amount should be used as the cost basis of the equipment?
The Flintstone Construction Company delivers dirt and stone from local quarries to its construction sites. A new truck that was purchased for a cost of $119,000 at the beginning of the year was expected to deliver 202,000 tons over its useful life. The following is a breakdown of the tons delivered during the year to each construction site: Construction Sites: Multiple Choice C $17,144 Tons Delivered: How much truck depreciation should be allocated to Site A? Note: Do not round Intermediate calculations. Round your answer to the nearest dollar. $1,296 $1,190 A 2,200 None of the answers are correct. B 3,700 C 4, 200 D 1,700
During the current year, Alanna Co. had the following transactions pertaining to its new office building. Purchase price of land $130,000 Legal fees for contracts to purchase land 4,000 Architech fees 16,000 Demolition of the old building on site 12,000 Sale of scrap from old building 5,000 Construction cost of new building 630,000 A. What should Alanna Co. record on its books for the land? The total cost of land includes all costs of preparing the land for use. The demolition cost of the old building is added to the land costs, and the sale of the old building scrap is subtracted from the land cost. B. What should Alanna Co. record on its books for the building?
On January 6, Year 1, Mount Jackson Corporation purchased a tract of land for a factory site for $845,000. An existing building on the site was demolished and the new factory was completed on October 11, Year 1. Additional cost data are shown below: Construction cost of new building $ 1,032,000 Real estate and attorney fees Architect fees Cost to demolish old building Salvage recovery from old building What is the capitalized cost of the new building? O $1,205,900 O $1,120,000 O $1,105,000 O $1,184,900 21,000 88,000 79,900 (15,000)
During the current year, Bear Company had the following transactions pertaining to a new office building:Purchase price of land- 600,000Legal fees for contract to purchase land- 20,000Architect fee -80,000Demolition of old building on site to make roomfor construction of new building -50,000Sale of scrap from old building -30,000Construction cost of new building fully completed -3,500,0001. What amount should be reported as cost of land?2. What amount should be reported as cost of building?
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During the current year, Alanna Co. had the following transactions pertaining to its new office building. Purchase price of land $120,000 Legal fees for contracts to purchase land 3,000 Architech fees 17,000 Demolition of the old building on site 9,000 Sale of scrap from old building 6,000 Construction cost of new building 700,000 A. What should Alanna Co. record on its books for the land? The total cost of land includes all costs of preparing the land for use. The demolition cost of the old building is added to the land costs, and the sale of the old building scrap is subtracted from the land cost. $fill in the blank 1 B. What should Alanna Co. record on its books for the building? $fill in the blank 2
Bonus Corporation is installing a new machine at its production facility. It has incurred these costs: Purchase price (including input tax of P300,000) P2,800,000 Initial delivery and handling costs 200,000 Costs of site preparation 600,000 Consultants used for advice on the acquisition of the machine 700,000 Installation and assembly costs 500,000 Costs of testing 100,000 Costs of training employees on how to use the machine 80,000 Estimated dismantling costs to be incurred after 7 years 300,000 Operating losses before commercial production 400,000 The cost of the machine is A. 4,900,000 B. 5,200,000 C. 4,200,000 D. 4,980,000

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