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hey can anyone provide the awnsers to these? Current Attempt in Progress Carla Vista Chrome Bumpers bought two acres of land with an old office
hey can anyone provide the awnsers to these?
Current Attempt in Progress Carla Vista Chrome Bumpers bought two acres of land with an old office building on it that was deemed unusable. The cost was $566,400 of which Carla Vista Chrome paid $94.400 in cash as a down payment and signed a 7% mortgage for the remainder. Carla Vista Chrome Immediately had the old building razed at a total cost of $10,190 and sold the salvaged materials for $2,520. Attorneys were paid $1.260 in connection with the purchase. The architect's fee for drawing building plans for the new building cost $8,100. Carla Vista Chrome paid $3,620 in connection with permits and zoning variances necessary prior to construction of the new building. Carla Vista Chrome paid the contractor $1,675,600 for construction of the new building, along with $49,560 for a parking lot and necessary walkways and driveways. Answer the following question. (a) At what amount should the land be recorded? Land be recorded $ e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer View Policies Current Attempt in Progress Sandhill Deliveries acquired a truck at a cost of $62,720 on January 1, 2014. The truck is expected to have a salvage value of $7.840 at the end of its 4-year useful life. Sandhill uses the straight-line method. Prepare the journal entry to record annual depreciation for 2015. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Answer View Policies Current Attempt in Progress On July 1, 2014, Sunland Enterprises sold equipment with an original cost of $80,700 for $31,300. The equipment was purchased January 1, 2011, and was depreciated using the straight line method over a five-year useful life with a $8,600 salvage value. Prepare the journal entry to record the sale of the equipment. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Step by Step Solution
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