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KiRa [710]
3 years ago
8

Blue Co. purchased land as a factory site for $600,000. The process of tearing down two old buildings on the site and constructi

ng the factory required 6 months. The company paid $63,000 to raze the old buildings and sold salvaged lumber and brick for $9,450. Legal fees of $2,775 were paid for title investigation and drawing the purchase contract. Blue paid $3,300 to an engineering firm for a land survey, and $102,000 for drawing the factory plans. The land survey had to be made before definitive plans could be drawn. Title insurance on the property cost $2,250, and a liability insurance premium paid during construction was $1,350. The contractor’s charge for construction was $4,110,000. The company paid the contractor in two installments: $1,800,000 at the end of 3 months and $2,310,000 upon completion. Interest costs of $255,000 were incurred to finance the construction. Determine the cost of the land and the cost of the building as they should be recorded on the books of Martin Buberk Co. Assume that the land survey was for the building.
Business
1 answer:
Harlamova29_29 [7]3 years ago
5 0

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

Download xlsx
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Mr. Green purchased a property with the provision in the sale agreement that the seller would provide him with a warranty deed.
natima [27]

Answer:

specific performance

Explanation:

  • Specific performance in relation to confidential information is commonly used as a prohibition relief
  • Specific performance is the equivalent compensation in contract law, under which a party issues orders requiring a party to perform a specific action, which is the execution of the contract.
  • It is usually available for sale under the Land Act, but is generally not available if the damage is an appropriate option.
  • If the seller fails to sell or the property is handed over to the seller, the buyer receives a specific performance under the provisions of the Specific Relief Act, 1963.
  • A similar right is available under the seller. The contract requires specific performance from the buyer.
3 0
3 years ago
Your high school transcript will include each of these items EXCEPT...
Thepotemich [5.8K]

Answer:

a list of your test and quiz grades in each course

Explanation:

a list of your test and quiz grades in each course

4 0
2 years ago
Read 2 more answers
Many public organizations must spend all budgeted funds within the fiscal year—otherwise, the subsequent year’s budget is ______
Rus_ich [418]

Answer:

The correct answer that fills the gap is: reduced by the unspent amount.

Explanation:

If there is a difference between budgeted and spent (positive or negative), the final result must be charged to the period immediately following. Otherwise it happens with long-term obligations, which are recognized in future periods until it is completely exhausted.

4 0
3 years ago
A production line at V. J.​ Sugumaran's machine shop has three stations. The first station can process a unit in 9 minutes. The
Murrr4er [49]

Answer:

Station 1 is a bottleneck station because the processing time taken to process the product in such station is 9 minute when compared with Station 2 and Station 3

Explanation:

Station 1 = Processing time is 9 minutes

Station 2 = Processing time is 5 minutes per unit (15 minutes / 3  machines)

Station 3 = Processing time is 7 minutes

Thus, the Station 1 is the bottleneck station with a bottleneck time of 9 minutes per unit.

7 0
3 years ago
This morning, you purchased a seventeen-year, 6.45% annual coupon bond with face value of $1,000 at a price of $1,030.04. Just a
iogann1982 [59]

Answer:

6.73%

Explanation:

the price of the bond in seven years is:

PV = $1,000 / (1 + 5.50%)¹⁰ = $585.43

PV of coupon payments = $64.50 x 7.538 (PVIFA, 5.5%, 10 years) = $486.20

market price = $1,071.63

using an excel spreadsheet of financial calculator, the annual rate of return:

year 0 = -1030.04

year 1 = 64.5

year 2 = 64.5

year 3 = 64.5

year 4 = 64.5

year 5 = 64.5

year 6 = 64.5

year 7 = 1136.13

IRR = 6.73%

8 0
2 years ago
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