Question : 145. Identify each of the following expenditures as chargeable to (a) : 1234171

 

145. Identify each of the following expenditures as chargeable to (a) Land, (b) Land Improvements, (c) Buildings, (d) Machinery and Equipment, or (e) other account. 

(1)

Cost of paving parking area for employees and customers.

(2)

Insurance during construction of building.

(3)

Interest incurred on loan during construction of building.

(4)

Fee paid for installation of equipment.

(5)

Special foundation for new equipment acquired.

(6)

Insurance on new equipment while in transit.

(7)

Freight charges on new equipment.

(8)

Cost of repairing vandalism damage to equipment during installation.

(9)

Sales tax on new equipment.

(10)

Cost incurred in repairing damage resulting from installation of new equipment.

(11)

Cost of land fill for building site.

(12)

Cost of lubricating oil purchased for periodic oil changes for equipment.

(13)

Parking lot lighting.

(14)

Installing a fence around the parking lot.

(15)

Repainting the trim on a building.

(16)

Special assessment paid to city for extension of water main to property.

(17)

Cost of razing and removing the old building on property acquired for a building site.

(18)

Delinquent real estate taxes assumed by purchaser on property acquired for a building site.

(19)

Attorney’s fee for title search.

(20)

Architect’s fee for building plans and supervision of construction.

 

 

 

146. Identify the following as a Fixed Asset (FA), or Intangible Asset (IA), or Natural Resource (NR), or Neither (N) 

(a)

computer

(b)

patent

(c)

oil reserve

(d)

goodwill

(e)

U. S. Treasury note

(f)

land used for employee parking

(g)

gold mine

 

 

 

147. A number of major structural repairs completed at the beginning of the current fiscal year at a cost of $1,000,000 are expected to extend the life of a building 10 years beyond the original estimate. The original cost of the building was $7,770,000, and it has been depreciated by the straight-line method for 50 years. Estimated residual value is negligible and has been ignored. The related accumulated depreciation account after the depreciation adjustment at the end of the preceding fiscal year is $5,550,000. 

(a)

What has the amount of annual depreciation been in past years?

(b)

What was the original life estimate of the building?

(c)

To what account should the $1,000,000 be debited?

(d)

What is the book value of the building after the extraordinary repairs have been made?

(e)

What is the expected remaining life of the building after the extraordinary repairs have been made?

(f)

What is the amount of straight-line depreciation for the current year, assuming that the repairs were completed at the very beginning of the current year?

 

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more