March 30, 2015

Homework Help: business

Posted by aa on Wednesday, June 30, 2010 at 2:38am.

Construction of a new plant:
Architect's fees $ 4,000
Cash paid for land and run-down building thereon 120,000
Removal of old building 18,000
Salvage from sale of old building parts (4,000)
Survey to site the new building 800
Legal fees for title search 1,400
Excavation for construction for basement 15,200
Machinery purchased 61,000
Storage charges on machinery because the building was
not ready when machinery was delivered 500
Freight on machinery purchased 1,200
Hauling charges to deliver machinery from storage to new building 300
New building constructed 600,000
Installation of machinery 2,300


a) Prepare a schedule showing the amounts to be recorded as Land, Buildings, and Machinery and Equipment.

b) Prepare the journal entry to record the above.

Answer this Question

First Name:
School Subject:

Related Questions

Financial Accounting - Prepare the general journal entries for the following ...
accounting - The following costs were incurred by Shumway Company in purchasing ...
Accounts - From the following Balance Sheets of Sriramco, prepare (a) Statement ...
Accounting - In 2000, purchased land for $5,600,000 that had a natural resource ...
Accounting - I need to enter the following into Journal Enteries a) Borrowed $12...
accounting - Assets Cash (Net Effect) $35,000 20,000 +15,000 A/R 33,000 14,000 +...
financial accounting and reporting - january 01,2007 Mr.A started a business ...
accounting - Cooper Construction Company had a contract starting April 2010, to ...
Real Estate Financing - "Mr. Smith acquired a property consisting of one acre of...
accounting - The following transactions occurred during March 2009 for the ...