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franky2871
24.12.2020 •
Business
On July 1, 2020, Preston Tucker and Sons AutomobileCompany acquired real estate to construct a small combination office and warehouse building. Tuckerpaid $125,000 cash as a down payment and issued a $375,000 note payable; the note is due in 3 years with an interest rate of 6.75%. An old warehouse on the property was demolished at a cost of $21,800; the salvaged materials from the warehouse were sold for $1,500. Additional expenditures before construction began, included: $3,100 for attorney's fee pertaining to the real estate purchase, $7,500 for real estate broker's fee, $9,100 architect's fee for designing plans for the new office and warehouse, and $16,000 to put in driveways and a parking lot. Required (a) Determine the amount to be reported as the cost of the land. (b) For each cost not used in part (a), indicate the account to be debited.
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Ответ:
Preston Tucker and Sons Automobile Company
A. Cost of the land = $530,900
Building account:
Architect's fee for designing plans = $9,100
C. Driveways and Parking Lot:
Driveways and parking lot = $16,000
Explanation:
a) Data and Calculations:
Down payment = $125,000
Note payable = $375,000
Total = $500,000
Interest rate of note payable = 6.75%
Cost of demolishing warehouse = $20,300 ($21,800 - 1500)
Attorney's fee for real estate purchase = $3,100
Real estate broker's fee = $7,500
Architect's fee for designing plans = $9,100
Driveways and parking lot = 16,000
Cost of the Land:
Payment for the land = $500,000
Demolishing old warehouse 20,300
Attorney's and broker's fee 10,600
Total cost of the land = $530,900
Building account:
Architect's fee for designing plans = $9,100
Driveways and Parking Lot:
Driveways and parking lot = $16,000
Ответ:
Más de 7 pH.
Explanation:
Antiácidos son bases cual tienen un pH más de 7.