Answer:
Units Completed and Transferred: 2,700
Explanation:
Units Completed and Transferred: Beginning Units in Process + Units Received - Ending Units in Process
Beginning Units in Process: 400
Units Received: 2,500
<u>Ending Units in Process: (200)</u>
Units Completed and Transferred: 2,700
Answer: LAND 3.227,680
BUILDING 806,920
LAND IMPROVEM 134,000
Explanation:
Land 4 0.8 $ 3.227,680
Building 1 0.2 $ 806,920
5 $ 4.034,600
Land Improvement
Parking Lot $ 88,000
Lanscaping $ 46,000
Total $ 134,000
Computation Of Cost Of Land And Building
Purchase Price $ 4.000,000
Add:
Title Insurance Cost $ 22,000
Legal Fees $ 8,000
State Transfer Fees $ 4,600
Demolition of old building $ 310,000
Land Clearing Expenses $ 85,000
Less: Salvage Material $ -9,000
Total Cost Of Land $ 4.420,600
The depreciation expense will be credited for $750 in the consolidating entries while preparing the 20X8 consolidated income statement,
<h3>What is the
depreciation expense?</h3>
This refers to the cost of an asset that has been depreciated for a single period such as in that year.
Depreciation expense = Cost - Salvage value / Useful life
Depreciation expense = $36,000 - $33,000 / (2 years (semi-annual charges)
Depreciation expense = $3,000 / 4
Depreciation expense = $750
Therefore, the depreciation expense will be credited for $750 in the consolidating entries while preparing the 20X8 consolidated income statement,
Read more about depreciation expense
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Answer:
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