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Question Not yet answered Marked out of 1 . 6 7 Flag question During the current year, Rook Inc. completed construction of its new corporate
Question Not yet answered Marked out of Flag question During the current year, Rook Inc. completed construction of its new corporate headquarters. Rook purchased land with an old building for $ The land was valued at $ and the building at $ Rook demolished the building. Additional expenditures on the project follow. Interest of $ on construction financing incurred after completion of construction of the headquarters building. Payment of $ for delinquent real estate taxes assumed by Rook upon purchase of the land and building. Cost of $ for construction of the new building. Purchase of office equipment for $ terms Payment was made within days and the company records purchases net of discount. Interest of $lesser of actual and avoidable interest on construction financing paid during construction of the headquarters building. Required Assuming no previous acquisitions of plant assets, determine Rook's ending balance for each of the plant asset accounts of a Land, b Building, and c Equipment, given the above information. Compute d total current year expense ignoring any depreciation expense if any, to be recognized from the above expenditures. tablea Ending balance in Land,$
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During the current year, Rook Inc. completed construction of its new corporate headquarters. Rook purchased land with an old building for $ The land was valued at $ and the building at $ Rook demolished the building. Additional expenditures on the project follow.
Interest of $ on construction financing incurred after completion of construction of the headquarters building.
Payment of $ for delinquent real estate taxes assumed by Rook upon purchase of the land and building.
Cost of $ for construction of the new building.
Purchase of office equipment for $ terms Payment was made within days and the company records purchases net of discount.
Interest of $lesser of actual and avoidable interest on construction financing paid during construction of the headquarters building.
Required
Assuming no previous acquisitions of plant assets, determine Rook's ending balance for each of the plant asset accounts of a Land, b Building, and c Equipment, given the above information. Compute d total current year expense ignoring any depreciation expense if any, to be recognized from the above expenditures.
tablea Ending balance in Land,$
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