Acc 550 (Acquisition Costs of Realty) E 10-1 and E 10-2

Name Section Date Exercises 10-1 and 10-2 10/10/2012 (Acquisition be of Realty) & (Acquisition Costs of Realty E10-1(Acquisition Costs of Realty) The expenditures and benefit below atomic number 18 related to defeat, province improvements, and buildings acquired for use in a agate line enterprise. The receipts are enclosed in parentheses. E10-1 Item 1 2 3 4 5 (a) (b) (c ) (d) (e) 6 7 8 9 10 (f) (g) (h) (i) (j) 11 12 13 14 15 16 (k) (l) (m) (n) (o) (p) discharge Land Improvements construct Other Accounts (275000) Notes Payable $ $ $ $ (1,000.00) 25,000.00 10,000.00 7,000.00 4,000.00 11,000.00 (5,000.00) $ 11 12 13 14 15 16 13,000.00 $ $ $ 6 7 8 9 10 250,000.00 9,000.00 $ $ $ 6,000.00 $ $ $ $ 1 2 3 4 5 275,000.00 3,000.00 19,000.00 14,000.00 17 18 19 20 17 18 19 20 E10-2 (Acquisition Costs of Realty) Poll achek Co. purchased land as a factory site for $450,000. The offshoot of tearing down dickens obsolescent buildings on the site $42,000 to bring down the old buildings and sold salvaged lumber and brick for $6,300.

Legal fees of $1,850 were paid for call investigating and drawing the purc land postdate, and $65,000 for drawing the factory plans. The land survey had to be made before definitive plans could be drawn. statute title insurance on the prop construction was $900. The contractors charge for construction was $2,740,000. The company paid the contractor in two installments: $1,200,000 at the e E10-2 $170,000 were incurred to finance the const! ruction. Determine the bell of the land and the cost of the building as they should be record on the books of Pollacheck Co. ahhh not this one! notthis 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Land Raxzing Cost Salvage Legal fees Survey Plans rubric Insurance Liability insurance Construction Interest Land $ $ $ $ Building 450,000.00 42,000.00 (6,300.00)...If you loss to get a full essay, severalise it on our website: BestEssayCheap.com

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