These expenditures were incurred by Crane Company type of in purchasing land: cash price $58,430, assumed accrued residential property taxes $5,410, attorney"s fees $2,480, genuine estate broker"s commission $3,320, and also clearing and also grading $4,440. What is the expense of the land?
Cullumber Company incurs these expenditures in purchasing a truck: cash price 22,970, accident insurance (throughout use) 1,640, motor car license 340, and also painting and also lettering 2,620. What is the expense of the truck?
Gordon Chemicals Company acquires a delivery truck at a expense of 20,400 on January 1, 2017. The truck is expected to have a salvage value of 4,500 at the finish of its 4-year advantageous life. Compute yearly depreciation for the initially and second years utilizing the straight-line method.
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Pharoah Company type of retires its distribution equipment, which price 48,850. Accumulated depreciation is also 48,850 on this delivery devices. No salvage value is obtained.
Assume the same indevelopment, other than that gathered depreciation for the devices is 36,270 rather of 48,850
(D) Accumulated depreciation-equipment36,270(D) Loss on disposal of plant assets12,580(C) Equipment48,850
Ivanhoe Company type of sells office equipment on July 31, 2017, for 22,330 cash. The office devices initially cost 83,350 and also as of January 1, 2017, had collected depreciation of 38,110. Depreciation for the first 7 months of 2017 is 4,730. Upday depreciation to July 31, 2017.
Ivanhoe Company sells office devices on July 31, 2017, for 22,330 cash. The office equipment originally expense 83,350 and also as of January 1, 2017, had collected depreciation of 38,110. Depreciation for the initially 7 months of 2017 is 4,730. Record the sale of the equipment.
(D) Accumulated Depreciation-Equipment42,840(D) Cash 22,330(D) Loss on disposal of plant assets18,180(C) Equipment83,350
Wildhorse Co. purchases a patent for 172,200 on January 2, 2017. Its estimated beneficial life is 6 years. Prepare the journal entry to document amortization price for the first year.
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Wildhorse Co. purchases a patent for 172,200 on January 2, 2017. Its approximated beneficial life is 6 years. Sjust how how this patent is reported on the balance sheet at the end of the first year.
Wildhorse Co. purchased a shipment truck. The complete cash payment was 45,042, including the adhering to items.Negotiated pursituation price 37,200Insall pro shelv. 2,380Painting and also lettering 700Motor auto license 190Annual Ins Policy 2,340Sales Tax 2,232Total 42,512The price of the distribution truck is