Security, Inc, opened an office in Cottage Grove, Minnesota. Security incurred the following costs in acquiring land, making land improvements, and constructing and fumishing the new sales bulding: (Click the icon to view the financlal data.) The company depreciates buildings over 50 years, land improvements over 15 years, and fumiture over 12 yoars, all on a straight-line basis with residual values of zoro. Read the teguirements. Requirement 1. Identhy the proper account (Land, Land Improvements, Sales Building. Garage Bulding, or Furnture) for each of the costs listed in the problem. Calculate the total cost of each assot. Start with items a through i, next, enter items j through q, and lasey calculate the totals for each asset category. (If an input field is not used in the table leare the field empty, do not entar a zora. Round percentages to two places when calculating proportions (XXX\%), and use your computed percentages throughout, Round your final antwers to the nearest whole dollar.) d, making land im all on a straight- ure) for each of th an input field is no your computed Data table d. making land im all on a straight-1 ure) for each of th an input field is ne your computed p Requirements 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. Security, Inc., opened an office in Cottage Grove, Minnesota. Security incurred the following costs in acquiring land, making land improvements, and constructing and furrishing the new sales bullding: (Click the icon to view the financial data.) The company depreciates buildings over 50 years, land improvements over 15 years, and fumiture over 12 years, all on a straight-line basis with residual values of zero. Read the requirements. Requirement 1. Identify the proper account (Land, Land improvements, Sales Bulding. Garage Building. or Furnture) for each of the costs listed in the problem. Calculate the total cost of each asset. Start with items a through I, noxt, enter items j through q, and lastly calculate the totals for each asset category. (If an inqut fleld is not used in the table leave ine fleld emgty; do not enter a zero. Round porcentages to two places when calculating proportions (XXX\%W), and use your computed percentages throughout. Round your final answers to the nearest whole doliar.) Security, Inc., opened an office in Cottage Grove, Minnesota. Security incurred the following costs in acquiring land, making land improvements, an furnishing the new sales building: (Click the icon to view the financial data.) The company depreciates buildings over 50 years, land improvements over 15 years, and fumiture over 12 years, all on a straight-line basis with res Read the requirements. Security, Inc., opened an office in Cottage Grove, Minnesota. Security incurred the following costs in acquiring land, making land improv furnishing the new sales building: (Click the icon to view the financial data.) The company depreciates buildings over 50 years, land improvements over 15 years, and furniture over 12 years, all on a straight-line b Read the requirements. Security, Inc., opened an office in Cottage Grove, Minnesota. Security incurred the following costs in acquiring land, making land improver furnishing the new sales building: (Click the icon to view the financial data.) The company depreciates buildings over 50 years, land improvements over 15 years, and furniture over 12 years, all on a straight-line bas Read the requirements. Requirement 2. All construction was complete and the assets were placed in service on April 2. Record depreciation for the year ended De Security, Inc., opened an office in Coltage Grove, Minnesota. Security incurred the following costs in acquiring land, making land improvements, and conistructing and furnishing the new sales building: (Click the icon to view the financial data.) The company depreciates buildings over 50 years, land improvements over 15 years, and fumiture over 12 years, all on a straight-line basis with residual values of zero. Read the requirements. 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 dollar. (Record debits first, then credits. Exclude explanations from joumal entries. Do not round intermediary calculations Only round the amount you input in the cell to the noarest dollar) Start by recording the depreciation on the land improvernents. Security, Inc,, opened an office in Cottage Grove, Minnesota. Security incurred the following costs in acquiring land, making land improvements, and constructing and fumishing the new sales buliding: (Cick the icon to view the financial data.) The company dopreciates buildings over 50 years, land improvements over 15 years, and fumiture over 12 years, all on a straight-line basis with residual values of zero. Read the requirements. Next, record the sales building depreciation expense. Now record the garage bubding deprecianon expense. Security, Inc., opened an office in Cottage Grove, Minnesota. Security incurred the following costs in acquiring land, making land improvements, and constructing and furnishing the new sales building: (Click the icon to view the financial data.) The company depreciates buildings over 50 years, land improvements over 15 years, and furniture over 12 years, all on a straight-line basis with residual values of zero. Read the reguirements. Now record the garage building depreciation expense. Finish by recording the furniture depreciation expense Security, Inc., opened an office in Cottage Grove, Minnesota. Security incurred the following costs in acquiring land, making land improvements, and constructing and furnishing the new sales building: (Click the icon to view the financial data.) The company depreciates bulidings over 50 years, land improvements over 15 years, and furniture over 12 years, all on a straight-line basis with residual values of zoro. Read the requirements. Finish by recording the furniture depreciation expense. Security, Inc., opened an office in Cottage Grove, Minnesota. Security incurred the following costs in acquiring land, making land improvements, and constructing and furnishing the new sales building: (Click the icon to view the financial data.) The company depreclates buildings over 50 years, land improvements over 15 years, and furniture over 12 years, all on a straight-line basis with residual valuos of zero. Read the requirements. Requirement 3. Why would a manager need to understand the concepts covered in this problem? This problem shows how to determine the cost of a asset. It also demonstrates the computation of for a variety of those assets, which affects Because virtually all businesses use these assets, a manager needs to understand how those assets' costs and computations are dilermined, Managers need to understand the meaning, components, and computation of because often their performance is measured by this amount
