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What amount should be recorded as the cost of the land in the company's books? A) $32,600 B) $26,600 C) $28,460 D) $31,100 2. Danube
What amount should be recorded as the cost of the land in the company's books? A) $32,600 B) $26,600 C) $28,460 D) $31,100 2. Danube Company purchased a used machine for $12,000. The machine required installation costs of $3000 and insurance while in transit of $1500. At which of the following amounts would the machine be recorded? A) $12,000 B) $15,000 C) $13,500 D) $16,500 3. Millburn Company has acquired a property that included both land and a building for $530,000. The company hired an appraiser who has determined that the market value of the land is $320,000 and that of the building is $480,000. At what amount should the company record the cost of land? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) $349,800 B) $128,000 C) $265,000 D) $212,000 4. On January 1, 2018, Jordan Company acquired a machine for $1,090,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $60,000. Calculate the depreciation expense per year using the straight-line method. A) $218,000 B) $206,000 C) $266,000 D) $272,500
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