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 equal of Realty E10-1(Acquisition Costs of Realty) The expenditures and get ahead below be think to defeat, province improvements, and buildings acquired for use in a business 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) Land Land Improvements Building 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) Pollachek Co. purchased land as a factory site for $450,000. The offset printing of tearing down dickens old buildings on the site $42,000 to lease down the old buildings and interchange salvaged lumber and brick for $6,300.

Legal fees of $1,850 were stipendiary for call investigation and drafting the purc land survey, and $65,000 for drawing the factory plans. The land survey had to be made before classic plans could be drawn. Title insurance on the prop mental synthesis was $900. The declarers 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 construction. Determine the cost of the land and the cost of the building as they should be enter on the books of Pollacheck Co. ahhh not this unrivalled! notthis 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Land Raxzing Cost Salvage Legal fees Survey Plans Title Insurance obligation insurance Construction Interest Land $ $ $ $ Building 450,000.00 42,000.00 (6,300.00)...If you loss to get a full essay, order it on our website: Ordercustompaper.com

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