FINANCIAL ACCOUNTING: TOOLS LL W/ ACCES
FINANCIAL ACCOUNTING: TOOLS LL W/ ACCES
9th Edition
ISBN: 9781119493648
Author: Kimmel
Publisher: WILEY
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Chapter 9, Problem 9.1AP
To determine

Type of costs: The cost of land and building includes the following costs:

  • Purchase price of land
  • Attorney fees
  • Real estate agent commission
  • Title
  • Recording fees
  • Legal fees
  • Architect fees
  • Building construction costs
  • Interest costs related to the construction
  • Sale of salvaged materials
  • Additional expenses :
    • Clearing
    • Filling and leveling of land
    • Removing of old buildings

To analyze: the transactions relating to land, building, and other accounts.

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Provide correct answer general accounting
During the year, Kiner Company made an entry to write off a $9,000 uncollectible account. Before this entry was made, the balance in accounts receivable was $315,000 and the balance in the allowance account was $27,000. The net realizable value of accounts receivable after the write-off entry was: A. $200,000. B. $184,000. C. $176,000. D. $288,000.
subject?? general accounting
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