Excercise P10 1A
2
10-1A Building Full payment to building contrac $600,000.00 Excavation Cost $25,000.00 Architect's fees $10,000.00 Cost of Building $635,000.00 Land Real estate taxes $2,000.00 Cost of property $125,000.00 cost of demolition building $21,000.00 salvage of building -$2,500.00 Cost of land $145,500.00 Other Accounts Land Improvement $19,000.00 property taxes $3,000 TOTAL $22,000 10-2A $76000/10 years=$7000 1 year $7,000 2 year $14,000 3 year $21,000 4year $28,000 $80000*25%=20000*75=$15000 $65000*25%=$16250 $45000*25%=$11250 $78000-6000/24000hr=$3 per hr $3*1000 hr=$3000
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ACCT 112
Transcript of Excercise P10 1A
Sheet110-1ABuildingFull payment to building contractor$600,000.00Excavation Cost$25,000.00Architect's fees$10,000.00Cost of Building$635,000.00LandReal estate taxes$2,000.00Cost of property$125,000.00cost of demolition building$21,000.00salvage of building-$2,500.00Cost of land$145,500.00Other AccountsLand Improvement$19,000.00property taxes$3,000TOTAL$22,00010-2A$76000/10 years=$7000 1 year$7,0002 year$14,0003 year$21,0004year$28,000$80000*25%=20000*75=$15000$65000*25%=$16250$45000*25%=$11250$78000-6000/24000hr=$3 per hr$3*1000 hr=$3000
Sheet2
Sheet3
MBD0813825A.doc
Land
Cash price of property
$ 100,000
Net removal cost of warehouse
6,000
Attorneys fee
1,000
Real estate brokers commission
8,000
Cost of land
$ 115,000
