Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

BC Cultural Club On August 15, 2016, the British Columbia Cultural Club of (BCCC) was formed in an effort to create a united social

image text in transcribedimage text in transcribedimage text in transcribed

BC Cultural Club On August 15, 2016, the British Columbia Cultural Club of (BCCC) was formed in an effort to create a united social group out of several separate regional clubs in the vicinity of the city of Decker, located in central BC. The purpose of the group is to combine resources to meet the recreational, cultural, and social needs of their collective members. BCCC was formed through the collaboration of the following clubs and their memberships: The Canadian Ukranian Society The Italian Clubs of Canada Chinese Cultural Foundation Association of Greeks of The World The Voice of Vietnam Other Total Members 12.300 10.800 4.100 2.700 1.100 1,700 32,700 It is now October 2020. BCCC's executives have spent the past few years planning and preparing for its operation. The club's community centre is expected to be fully completed next year. The facilities of the club will include the following: a multi-purpose building to house banquets, meetings and arts activities hiking trails indoor/outdoor tennis facilities bicycle trails baseball diamonds an indoor/outdoor pool a soccer field The multi-purpose building is 75 percent complete, and BCCC's executives have stated that it is "approximately within budget." Estimated building costs were outlined in a 2016 feasibility study, as follows: Construction Cost Site Preparation Costs Furniture and Fixtures Consulting Fees Miscellaneous Total $ 2,300,000 400,000 550,000 120,000 80,000 $3.450,000 The four acres of land on which the facility is built were provided by the provincial government by way of a five-year lease at $1 a year. The adjacent land of 60 acres was contributed to the club by The Italian Clubs of Canada. Previously, this land had been leased to a farmer for $54,000 a year. The 64 acres will be used for the following projects, which will incur the additional costs listed below: Hiking Trails Baseball Diamonds Soccer Field Bicycle Trails Indoor/Outdoor Pool Indoor/Outdoor Tennis, Facilities. Total $ 595,000 30,000 22,000 95,000 700,000 300,000 $1,742,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles of Accounting

Authors: Belverd Needles, Marian Powers, Susan Crosson

10th edition

618736611, 978-1111809508, 111180950X, 978-0618736614

More Books

Students also viewed these Accounting questions