doggosbepis
25.12.2020 •
Business
Vijay Inc. purchased a three-acre tract of land for a building site for $260,000. On the land was a building with an appraised value of $128,000. The company demolished the old building at a cost of $11,300, but was able to sell scrap from the building for $1,670. The cost of title insurance was $830 and attorney fees for reviewing the contract were $420. Property taxes paid were $3,300, of which $170 covered the period subsequent to the purchase date. The capitalized cost of the land is:
Solved
Show answers
More tips
- F Family and Home How to Teach Your Child to Read?...
- C Computers and Internet How to Download Videos from YouTube? Simple Steps to Download Any Content...
- S Style and Beauty Tricks and Tips: How to Get Rid of Freckles...
- H Health and Medicine How to perform artificial respiration?...
- C Computers and Internet How to Get Rid of Windows Genuine Check?...
- F Food and Cooking The Disease That Haunted Abraham Lincoln...
- S Style and Beauty How to Make Your Lips Fuller? Ideas and Tips for Beautiful Lips...
- S Style and Beauty How are artificial nails removed?...
- F Family and Home How to Sew Curtain Tapes: Best Tips from Professionals...
- H Horoscopes, Magic, Divination How to Cast a Love Spell on a Guy? Guide for Guys...
Answers on questions: Business
- B Business Which option in the Insert Table dialog box should you check if you want smaller tables to fit on a single page?...
- B Business 100 points. multiple choice. Home prices and stock prices rise steadily, maintaining high income levels for wealthy Americans during the pandemic. How does this affect the...
- B Business A.Was Apple wrong for not complying with the FBI’s request? ...
- B Business A company pays a constant 6.5 dividend on stock. The dividend will maintain for the next 12 years and cease forever. The required return on the stock is 9.1 percent. What...
- B Business Assume the average cost of computer equipment fell 24.0 percent between 2016 and 2017. Let’s see whether these changes are reflected in the income statement of Computer...
- H History How did the enlightenment change attitudes about existing political systems...
- A Advanced Placement (AP) Who is the fourth president of fourth repoblic...
- E English In the story a very old man with enormous wings , why does the young girl get changed into a spider?...
- E English Read the sentence.our band practices on mondays at josef’s thursdays at lena’s and saturdays at my house. what is the correct punctuation...
- H History How did southern states respond to the ratification of the fourteenth amendment?...
Ответ:
$273,840
Explanation:
The Cost of of an item of Property, Plant and Equipment according to IAS 16 include the purchase price and any directly related costs incurred in bringing the asset in the condition and location for operation as intended by management.
Calculation of the Cost of Land
Purchase Price $260,000
Cost after proceeds to demolish old building($11,300 - $1,670) $9,630
Insurance $830
Legal Fees $420
Property taxes ( $3,300 - $170) $3,130
Capitalized Cost $273,840
Ответ: