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answer please Instructions Indicate the letter of the account that Jokarie must debit for the cost of each of these transactions Exercise 2 Chapter 10
answer please Instructions Indicate the letter of the account that Jokarie must debit for the cost of each of these transactions Exercise 2 Chapter 10 Property Plant & Equipment (PPE) On May 1, 2021, Roprin Corp. acquired a property (land and Old Building) where it plans to build a building for commercial premises. Roprin paid $90,000 in cash. The Old Building that was on the property was demolished at a cost of $10,200, the debris material was sold for $2,200. Additional costs incurred in the acquisition of this property include, $2,300 for legal fees, S4,500 for commissions paid to the listing agent, $10.400 for architect's fees, and $12,000 for parking, lighting and streets Instructions: (a) Determine the amount to be presented in Roprints Financial Statements for the cost of the Land Transaction description Quantity Total (b) For each cost that was not used for the Land account, indicate the account to be debited. Description Transaction Account Name Quantity
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