Data table $ 360,000 8,000 31,600 500 5,200 a. Purchase price of land, including an old building that will be used for a garage (and market value is $315,000; building market value is $85,000) b. Grading (leveling) land c. Fence around the land d. Attorney fee for title pearch on the land e. Delinquent real estate taxes on the land to be paid by Lance Pharmacy f. Company signs at entrance to the property 9. Building permit for the sales building h. Architect fee for the design of the sales building i Masonry, carpentry, and roofing of the sales building j Renovation of the garage building k. Interest cost on construction loan for sales building 1. Landscaping (trees and shrubs) m. Parking lot and concrete walks on the property in. Lights for the parking lot and walkways o. Salary of construction supervisor (85% to sales building; 8% to land improvements, and 7% to garage building renovations) 1,300 600 19,850 520,000 40,630 9,700 6,600 52,000 7,700 41,000 7,700 n. Lights for the parking lot and walkways o. Salary of construction supervisor (85% to sales building; 8% to land improvements; and 7% to garage building renovations) p. Office furniture for the sales building 9. Transportation and installation of furniture 41,000 79,000 1,000 Requirements bove - X lite ast ent Ipt 1. Identify the proper account (Land, Land Improvements, Sales Building, Garage Building, or Furniture) for each of the costs listed in the problem. Calculate the total cost of each asset. 2. All construction was complete and the assets were placed in service on April 2. Record depreciation for the year ended December 31. Round to the nearest dollar. 3. Why would a manager need to understand the concepts covered in this problem? Print Done Lance Pharma, Meta Landing and crowd mehe The compreso de 2017 Rewirement 1. poor sound anders Buting wage thing the credit care a that we ought me rouge, and all the laterales... ons ix XXX you come ground your Land Improvements Furniture rem Land Sale Land improvement Our Fune 1 Tollas Requirement. Al wants were Art Decor Deddy wyour health Start by recording to relatives Jomary Date M De C 04 31 Notre propre Det D C 31 Now record the garage buting bone Jumal Entry Date Account 31 Debe Credo Ace Dab Crec Date Dec Heurements. We cover This show the wa Bewed by the amount $ 360,000 8,000 31,600 C. 500 5,200 1,300 a. Purchase price of land, including an old building that will be used for a garage (land market value is $315,000; building market value is $85,000) b. Grading (leveling) land Fence around the land d. Attorney fee for title search on the land e. Delinquent real estate taxes on the land to be paid by Lance Pharmacy f. Company signs at entrance to the property g. Building permit for the sales building h. Architect fee for the design of the sales building i. Masonry, carpentry, and roofing of the sales building i Renovation of the garage building k. Interest cost on construction loan for sales building 1. Landscaping (trees and shrubs) m. Parking lot and concrete walks on the property n. Lights for the parking lot and walkways o. Salary of construction supervisor (85% to sales building; 8% to land improvements: and 7% to garage building renovations) 600 19,850 520,000 40,630 9,700 6,600 52,000 7.700 41 000 C. Fence around the land d. Attorney fee for title search on the land 31,600 500 5,200 1,300 600 19,850 520,000 40,630 e. Delinquent real estate taxes on the land to be paid by Lance Pharmacy f. Company signs at entrance to the property g. Building permit for the sales building h. Architect fee for the design of the sales building i. Masonry, capentry , and roofing of the sales building i. Renovation of the garage building k. Interest cost on construction loan for sales building 1. Landscaping (trees and shrubs) m. Parking lot and concrete walks on the property n. Lights for the parking lot and walkways 0. Salary of construction supervisor (85% to sales building; 8% to land improvements; and 7% to garage building renovations) p. Office furniture for the sales building 9. Transportation and installation of furniture 9,700 6,600 52,000 7,700 41,000 79,000 1,000 where at win ons het voor Sa Land improve Gare Them Land Holding SUOMI Lance Pharmacy, Inc., opened an office in Minneapolis, Minnesota. Lance incurred the following contain acquiring land, making and improvements, and constructing and fumating the news Click the icon to view the financial data) The company depreciates buildings over 50 years, tand improvements over 20 years, and future over 12 years, al on a straight-in basin wth residus wues of 2010 Read the requirements Sales Garage Land Improvements Hom Land Building Furniture 1 n 0 P Total Requirement 2. All construction was complete and the assets were placed in service on April 2. Record depreciation for the year ended December 31. Round to the nearest dolar Hecord en Submit qui Requirement 2. All construction was complete and were drie on Apr 2. Record depreciation for the year and December Round stereof. cro Esterom jumales Dodround intermediary is only found you to me Start by recording the depreciation on and improvements Journal Entry Accounts Det Credit Doc 31 Date Next, record the sales building depreciation expense. Journal Entry Accounts Date Debit Credit Dec 31 Now record the garage building depreciation expense. Journal Entry Date Accounts Debit Credit Dec 31 Finish by recording the furniture depreciation expense. Journal Entry Date Accounts Dec 31 Debit Credit Resument. Why were This growth when metodom domains were the emancity URRERA Data table $ 360,000 8,000 31,600 500 5,200 a. Purchase price of land, including an old building that will be used for a garage (and market value is $315,000; building market value is $85,000) b. Grading (leveling) land c. Fence around the land d. Attorney fee for title pearch on the land e. Delinquent real estate taxes on the land to be paid by Lance Pharmacy f. Company signs at entrance to the property 9. Building permit for the sales building h. Architect fee for the design of the sales building i Masonry, carpentry, and roofing of the sales building j Renovation of the garage building k. Interest cost on construction loan for sales building 1. Landscaping (trees and shrubs) m. Parking lot and concrete walks on the property in. Lights for the parking lot and walkways o. Salary of construction supervisor (85% to sales building; 8% to land improvements, and 7% to garage building renovations) 1,300 600 19,850 520,000 40,630 9,700 6,600 52,000 7,700 41,000 7,700 n. Lights for the parking lot and walkways o. Salary of construction supervisor (85% to sales building; 8% to land improvements; and 7% to garage building renovations) p. Office furniture for the sales building 9. Transportation and installation of furniture 41,000 79,000 1,000 Requirements bove - X lite ast ent Ipt 1. Identify the proper account (Land, Land Improvements, Sales Building, Garage Building, or Furniture) for each of the costs listed in the problem. Calculate the total cost of each asset. 2. All construction was complete and the assets were placed in service on April 2. Record depreciation for the year ended December 31. Round to the nearest dollar. 3. Why would a manager need to understand the concepts covered in this problem? Print Done Lance Pharma, Meta Landing and crowd mehe The compreso de 2017 Rewirement 1. poor sound anders Buting wage thing the credit care a that we ought me rouge, and all the laterales... ons ix XXX you come ground your Land Improvements Furniture rem Land Sale Land improvement Our Fune 1 Tollas Requirement. Al wants were Art Decor Deddy wyour health Start by recording to relatives Jomary Date M De C 04 31 Notre propre Det D C 31 Now record the garage buting bone Jumal Entry Date Account 31 Debe Credo Ace Dab Crec Date Dec Heurements. We cover This show the wa Bewed by the amount $ 360,000 8,000 31,600 C. 500 5,200 1,300 a. Purchase price of land, including an old building that will be used for a garage (land market value is $315,000; building market value is $85,000) b. Grading (leveling) land Fence around the land d. Attorney fee for title search on the land e. Delinquent real estate taxes on the land to be paid by Lance Pharmacy f. Company signs at entrance to the property g. Building permit for the sales building h. Architect fee for the design of the sales building i. Masonry, carpentry, and roofing of the sales building i Renovation of the garage building k. Interest cost on construction loan for sales building 1. Landscaping (trees and shrubs) m. Parking lot and concrete walks on the property n. Lights for the parking lot and walkways o. Salary of construction supervisor (85% to sales building; 8% to land improvements: and 7% to garage building renovations) 600 19,850 520,000 40,630 9,700 6,600 52,000 7.700 41 000 C. Fence around the land d. Attorney fee for title search on the land 31,600 500 5,200 1,300 600 19,850 520,000 40,630 e. Delinquent real estate taxes on the land to be paid by Lance Pharmacy f. Company signs at entrance to the property g. Building permit for the sales building h. Architect fee for the design of the sales building i. Masonry, capentry , and roofing of the sales building i. Renovation of the garage building k. Interest cost on construction loan for sales building 1. Landscaping (trees and shrubs) m. Parking lot and concrete walks on the property n. Lights for the parking lot and walkways 0. Salary of construction supervisor (85% to sales building; 8% to land improvements; and 7% to garage building renovations) p. Office furniture for the sales building 9. Transportation and installation of furniture 9,700 6,600 52,000 7,700 41,000 79,000 1,000 where at win ons het voor Sa Land improve Gare Them Land Holding SUOMI Lance Pharmacy, Inc., opened an office in Minneapolis, Minnesota. Lance incurred the following contain acquiring land, making and improvements, and constructing and fumating the news Click the icon to view the financial data) The company depreciates buildings over 50 years, tand improvements over 20 years, and future over 12 years, al on a straight-in basin wth residus wues of 2010 Read the requirements Sales Garage Land Improvements Hom Land Building Furniture 1 n 0 P Total Requirement 2. All construction was complete and the assets were placed in service on April 2. Record depreciation for the year ended December 31. Round to the nearest dolar Hecord en Submit qui Requirement 2. All construction was complete and were drie on Apr 2. Record depreciation for the year and December Round stereof. cro Esterom jumales Dodround intermediary is only found you to me Start by recording the depreciation on and improvements Journal Entry Accounts Det Credit Doc 31 Date Next, record the sales building depreciation expense. Journal Entry Accounts Date Debit Credit Dec 31 Now record the garage building depreciation expense. Journal Entry Date Accounts Debit Credit Dec 31 Finish by recording the furniture depreciation expense. Journal Entry Date Accounts Dec 31 Debit Credit Resument. Why were This growth when metodom domains were the emancity URRERA