Create four new fixed asset accounts – Account type: Fixed Assets, detail type: Buildings and Accumulated Depreciation (where appropriate), account names: Original Cost (a sub account of Building) and Accumulated Depreciation (a sub account of Building), and Land with Account type: Fixed Asset, detail type: Land. I saw a sample but don't we have to make a check also? How are the 4 accounts created also?

Q: If

A:

Q: Name and briefly explain four methods of depreciation.

A: Their are different types of Deprecation method to determine book value of the asset at the end of…

Q: You’re called out of an investment committee meeting at your real estate company for an important…

A: Analysis of various descriptions on comparable properties: Description Analysis Distance from…

Q: Listed below are costs (or discounts) to purchase or construct new plant assets. (1) Indicate…

A: The question is related to identification of expenses which are of revenues nature and capital…

Q: In the bottom-up approach basically uses historical data from similar engineering projects to…

A: The correct option with proper explanation are as follows.

Q: Explain the accounting treatment of equipment acquired for use in R&D projects.

A:

Q: Current Attempt in Progress Indicate whether each of the following expenditures should be classified…

A: An expenditure in accounting refers to any outflow of cash or other assets from a business entity,…

Q: Drive and Fly, near an airport, incurred the following costs to acquire land, make land…

A: Capital assets are those assets which are acquired by the business for longer period of time. These…

Q: Q4. Several techniques can be used to obtain an indication of land value. The cost approach to…

A: the answers are given below

Q: What are the three depreciation methods ?  Define each. Thank you !

A: Three methods of depreciation are as follow: Straight line method Double declining balance method…

Q: Which list is in proper time order? a) Pre-development, land acquisition, shell construction,…

A: In real estate projects, the early stage is the most crucial phase which involves due diligence,…

Q: valuation assertion for property, plant,

A: Option B is wrong because by touring the hotel for unused to equipment will provide data only…

Q: here are a number of factors, which are considered when designing the most appropriate asset…

A: Introduction : In simple words, asset classes refers to the process under which a manager…

Q: Q4. Define and differentiate between market value, investment value and transaction prices. In…

A: valuation is an essential tool for making informed decisions about assets and ensuring that…

Q: Part I: Define the following terms (35-40 words) and word process answers. Circle the correct…

A: Bundle of Rights refers to the various legal rights associated with owning a property. This bundle…

Q: Which of the following groups would be classified as intangible assets for financial accounting and…

A: An intangible asset is an asset that lacks physical substance. Examples are patents, copyright,…

Q: The cost of land improvements includes fencing, paving, parking areas, and lighting.   true or…

A: Under the given statement, the accounting concept regarding the inclusion of some cost as land…

Q: Explain the steps of depreciation analysis with the help of a numerical example. (Note: each student…

A: Solution- In accounting terms, depreciation is defined as the reduction of recorded cost of a fixed…

Q: which of the following should be included in the cost of equipment: (a) installation charges (b)…

A: The TCO( or total cost of ownership) is the full price you pay for costs for the machinery…

Q: Hardware Asset Managers communicate and share data with the Finance Department on which of the…

A: Hardware Asset Managers are responsible for managing the physical components of a company's IT or…

Q: An individual who's job is to identify well located vacant land is likely to be vorking for a…

A: answer:construction

Q: capital expenditure or revenue expenditure: a. Purchase of dust cover for the computer printer. b.…

A: Capital expenditure is defined as on the acquisition of assets like building, land, equipment,…

Q: parison Grid" for a subject property.  Include in the grid, all comparable sales with improvements…

A: Calculate the total value of the subject property:Cropland value: 400 acres * $500/acre =…

Q: Before testing property, plant, and equipment (PPE) and finite-life intangible (FLI) assets,…

A: The objective of the question is to understand the process a firm follows in assessing Property,…

Q: Distinguish between the concepts of expense and asset.Support your answer by using an example to…

A: Expense: An organization will incur costs in the course of doing its business, which will be…

Q: Identify the type of the following costs: These include costs of searching new knowledge and…

A: PAS / IAS 38 Intangible Assets sets out criteria to recognize and measure intangible assets.An…

Q: On February 1, 2019, Edwards Corporation purchased a parcel of land as a factory site for $120,000.…

A: General points -  All the costs incurred in related to build a building should be capitalized to the…

Q: 57. All of the following would appear on a written appraisal report EXCEPT the A. date of the value…

A: As per our guidelines, in case of multiple questions, we can only solve the first question. In case…

Q: Trinkle Company made several purchases of long-term assets during the year. The details of each…

A: Costs are classified as capital cost and operational cost. Cost which is capital in nature is added…

Q: Which of the following is recorded as a cost when purchasing an existing building? O A. cost to…

A: The correct solution is given in the following steps for your reference

Q: 1. a. You paid $360,000 cash to acquire a group of items consisting of land appraised at $120,000,…

A: The fixed assets are the assets that are used for long term into the business. The total cash paid…

Q: Two buildings have just sold in the same office park as your property. All three properties were…

A: Discounted cash flow method is the method of finding the value of an investment by predicting its…

Q: 5. Development original and planned investigation undertaken with the prospect of gaining scientific…

A: Since you have asked multiple sub-parts so we can solve only first three sub parts for you please…

Q: What are the two main characteristics of intangible assets?

A: "Since you have asked multiple questions, the first question was answered for you. If you want the…

Q: Explain the difference between Tangible Assets and Intangible Assets Please do fast ASAP fast

A: Tangible and Intangible Assets

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.