Maurice Tutor

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Category > Management Posted 05 May 2018 My Price 7.00

Falcon Company

 

 

Falcon Company acquired an adjacent lot to construct a new warehouse, paying $40,000 and giving a...

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5wrment eciam Chapter 10: Fixed Assets and Intangible Assets 134. Falcon Compan y acquired an adjacent lot to construct a new r $410,000. Legal fees paid were $13,275, delinquent taxes assessed were term note for $410,000. Legal fees paid were warchouse, paying S40,000 and giving a short- to were sold for $6,800. A contractor was p the land to be reported on the balance sheet and show your work. g $14,500, and fees paid tand were $15,800. Materials salvaged from the demolition of th were sou an old building from paidwere $13,275, delinquent taxes assessed were $14.500, an e bu ilding olition of the building e the cost of tr was paid $890,000 to construet the new warehouse. Determine the cost ANSWER

Falcon Company acquired an adjacent lot to construct a new warehouse, paying $40,000 and giving a short-term note for $410,000. Legal fees paid were $13, 275, delinquent taxes assessed were $14, 500, and fees paid to remove an old building from the land were $15, 800. Materials salvaged from the demolition of the building sold for $6, 800. A contractor was paid $890,000 to construct the new warehouse. Determine the cost of the land to be reported on the balance sheet and show your work.

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Maurice Tutor
(5)
Status NEW Posted 05 May 2018 06:05 PM My Price 7.00

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