Question
i need help w question 1 and 2 Question ) On March l, 2021, Amanda Company acquired real estate, on which it planned to construct
i need help w question 1 and 2
Question ) On March l, 2021, Amanda Company acquired real estate, on which it planned to construct a snuil office building, by paying S97 ,OOO in cash. An old warehouse on the property was demolished at a cost of S28,288; the salvaged materials were sold for S5.777. Additional expenditures before construction began included S I .009 attorney's fee for work concerning the land purchase, $5,200 real estate broker's fee, $9,100 architect's fee, and S 17 ,000 to put in driveways and a parking lot. Instructions: A) Determine the amount to be reported as the cost of the land. B) For each cost not used in part indicate the account to be debited Question 2) Megan Company purchased a new machine on September , 2021. at a cost of SI 31.000. The company estimated that thc nuichine has n salvage value of SS 15. is expected to be used for 88,316 working hm.rs. and will have a I-year life. Instructions: A) Compute the under ror 2021, 2025. and 2028. assuming December 31 year-end, Compulc the -lepreciation ckpcnse under thc double-declining balance method tor 2021 and 2022. Round thc percentage rate to 2 decimal places. C) Contputc 'he depreciation expense the units-of-activity method 2021. assuming nuchine usage 4.444 hours. depreciation per unit to 'he nearest cent.)
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