Park Company purchased land for a manufacturing facility for $1,100,000.$ The company paid $70,000$ to tear down a building on the land. Salvage was sold for $10,500.$ Legal fees of $6,500$ were paid for title investigation and making the purchase. Architect's fees were $40,500.$ Title insurance cost $4,500,$ and liability insurance during construction cost $13,500.$ Excavation cos $12,000.$ The contractor was paid $1,357,000.$ A one $-$time assessment made by the city for $12,000.$ The contractor was paid $1,357,000.$ A one $-$time assessment made by the city for sidewalks was $7,500.$ Park company installed lighting and signage at a cost of $11,000.$

The cost of the land that should be recorded by Park company is

$2.$ The cost of the building that should be recorded by Park company is

$3.$ Park company should record land improvements of

$4.$ Park Company purchased a depreciable asset for $1,360,000.$ The estimated salvage value is $360,000,$ and the estimated useful life is $8$ years. The double$-$declining balance method will be used for depreciation. What is the depreciation expense for the second year on this will be

$5.$ Park Company purchased a depreciable asset for $2,000,000.$ The estimated salvage value is $150,000,$ and the estimated useful life is $400,000$ hours. Kleinschmidt used the asset fo $35,000$ hours in the current year. The activity method will be used for depreciation. What is the depreciation expense on this asset? is the depreciation expense on this asset

On January $1,2025,$ Park Inc. purchased equipment with a cost of $4,500,000,$ a useful life of $12$ years and no salvage value. The Company uses straight$-$line depreciation. At December $31,$ sell the asset is estimated to be $3,850,000.$ The asset's value present. The fair value less cost $3,500,000.$ There is no change in the asset's useful life or salvage value. $6.$The $2025$ income statement will report Loss on Impairment of

For $2025,$ Park Company reports beginning of the year total assets of $$900,000,$ end of the year to $$250,000.$

$7.$ Park's $2025$ asset turnover is

$8.$ The rate of return on assets for Hoyle in $2025$ is

The trial balance before adjustment of Rose Company reports the following balances:

$\backslash$table$[[,$Dr$.,$Cr$.],[\backslash$table$[[$Allowance for doubtful accounts$],[$Sales $($all on credit$)]],,\backslash$table$[[$$$2,500$