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Accounting questions pls help, thanks so much value: 0.75 points Brief Exercise 7-1 Determine the initial cost of land [LO7-1) Fresh veggies, Ino. (FVI), purchases

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Accounting questions pls help, thanks so much

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value: 0.75 points Brief Exercise 7-1 Determine the initial cost of land [LO7-1) Fresh veggies, Ino. (FVI), purchases land and a warehouse for $580.000. In addition lo the purchase price, FVI makes the following expenditures related to he acquisition: brokers commission, $38,000; lille insurance, $2,500; and miscellaneous closing costs. $7,600. The warehouse is immediately demolished ate mst of$38.0(m in antidpation of building a new warehouse. Delermino the amount FVI should record as the east oflhe land. _:| value: 0.15 points Brief Exercise 7-2 Determine the initial cost of equipment [LOT-I} Whole Grain Bakery purchases an industrial bread machine fer $24,500. In addition tn the purd'lasl price, the company makes the fellawing expenditures: freight, $1,450; installation, $2,900: tasting. $950: and property tax on the machine for the rst year. $490. What is the initial cost of the bread machine? Installation Property tax Purcha m price Testing value: 0.15 pninis Brief Exercise 7.3 Calculate goodwill [LOT-2) Kosher Pickle Company acquires all the outstanding stock of Midwest Produce for $12.0 million. The fair value of Midwest's assets is $8.2 million. The iair value of Midwest's liabilities is $1.2 million. Calculate the amount paid for goodwill. [Enter your answer in mllllons rounded to 1 decimal place (I.e., 5,500,000 should he entered as 5.5).] value: 0.75 points Brief Exercise 7-11 Account for the exchange of long-term assets (LOT-6) China Inn and Midwesl Chicken exchanged assets. China Inn remived a delivery truck and gave equipment. The lair value and book value of the equipment were $17,500 and $10,200 (driginal cost of $36,000 less accumulated dereciation deZSOO). respectiVIiy. Ta Iqualizre market values aflhe exchanged Israels. China Inn paid $8,100 in cash to Midwest Chicken. 1. Al whal amdunt did China Inn record the delivery lruck? _:| 2. How much gain or less did China Inn recognize on the exchangI? :I:I

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