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Assume Martin's Moving & Storage Ltd. (MMS) of Regina, Saskatchewan, incurred the following costs in acquiring land, making land improvements, and constructing and furnishing its
Assume Martin's Moving & Storage Ltd. (MMS) of Regina, Saskatchewan, incurred the following costs in acquiring land, making land improvements, and constructing and furnishing its own storage warehouse: (Click the icon to view the costs of items a. to i.) (Click the icon to view the costs of items j. to q.) Requirements Requirement 1. Show how to account for each of MMS's costs by listing the cost under the correct account. Determine the total cost of each asset. Start with items a, through i; next, enter itemsj. through q; and lastly calculate the totals for each asset category. (Hold all decimals for interim calculations. Round your final answers to the nearest dollar. Leave any unused cells blank.) Land Improvements Office Building Item Land Warehouse Furniture Enter any number in the edit fields and then click Check Answer. D M A R E... League of L Course Ho... 9 Do Homew... L League of L. A P6-41A (alt3) Assume Martin's Moving & Storage Ltd. (MMS) of Regina, Saskatchewan, incurred the following costs in acquiring land, making land improvements, and constructing and furnishing its own storage warehouse i Click the icon to view the costs Requirements i More Info Requirement 1. Show how to account f Start with items a through i; next, enter your final answers to the nearest doll st of each asset for interim calculations. Round Land Improvemen Land Item es a. Purchase price of 4 acres of land, including an old building that will be used for an office (land fair value is $295,000, building fair value is $72,000).......... $325,000 b. Landscaping (additional dirt and earth moving)............. 10,600 c. Fence around the land... 18,770 d. Lawyer fee for title search on the land.............. 1,500 e. Delinquent real estate taxes on the land to be paid by MMS. 7,900 f. Company signs at front of the company property........... 3,500 g. Building permit for the warehouse 930 h. Architect fee for the design of the warehouse. 21,910 i. Masonry, carpentry, roofing, and other labour to construct the 825,000 warehouse........... Assume MMS depreciates buildings over 40 years, land improvements over 20 years, and furniture over 8 years, all on a straight-line basis with zero residual value. Print Print Done] Enter any number in the edit fields and then click Check Answer. 2018 . League of L... A Course Ho Do Homew.. A L League of L. ere to search
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