can you please type it so i can read it
13) On January 6, Year 1, Mount Jackson Corporation purchased a tract of land for a factory site for $1,500,000. An existing building on the site was demolished and the new factory was completed on October 11, Year 1. Additional cost data are shown below: Construction cost of new building $ 1,760,000 Real estate and attorney fees 15,400 Architect fees 138,000 Cost to demolish old building 133,200 Salvage recovery from old building (11,000 Which of the following are the capitalized costs of the land and the new building, respectively? A) $1,637,600 and $1,898,000 B) $1,515,400 and $2,020,200 C) $1,648,600 and $1,887,000 D) $1,500,000 and $2,035,600 14) What joumal entry would be used to record the purchase of the above assets? A) Land 370,000 Building 1.100.000 Equipment 760,000 Cash 2,230,000 B) Land Building Equipment Cash Noles payable 370,000 1,100,000 760,000 350,000 1.880,000 Land Building Equipment Cash Notes payable 323.000 950.000 627,000 350.000 1.550,000 D) Land Building Equipment Cash Notes payable Gain on purchase of long-term assets 370.000 1,100,000 760,000 350,000 1.550.000 330,000 15) What value will be recorded for the building? A) $175,000 B) $950,000 C) $800,000 D) $1,100,000 16) How does the going concern assumption affect accounting for notes payable? A) It dictates that notes payable be reported at their face value. B) It dictates that interest expense be accrued at the end of the accounting period. C) It dictates that notes payable be reported at their net realizable value. D) It dictates that interest expense be paid when the note matures. 17) Receivables are normally reported on the balance sheet at net realizable value. In contrast, payables are carried at face value. Which accounting principle requires this treatment of payables? A) Materiality concept B) Monetary unit assumption C) Going concern assumption D) Realizability concept 18) What is (are) the term(s) used to describe the party who borrows money as evidenced by a note payable? A) Maker B) Payee C) Issuer D) Issuer and maker 19) Franklin Company issued a $40,000 note to the Mercantile Bank on August 1, Year 1. The note carried a one-year term and a 12% rate of interest. How will the adjusting entry, dated December 31, Year 1, to record accrued interest expense impact the elements of the financial statements? A) Decrease assets and decrease retained earnings by $2,000 B) Increase liabilities and decrease equity by $2,000 C) Increase liabilities and decrease equity by $1,600 D) Decrease equity and increase liabilities by S4,800 stored
