PROBLEMSProblem 15-1 (AICPA Adapted)Trisha Company made the following soquinitions durinr theyear:* Purchased for P6,400,000, ineluding appraiser fee ofP60,000, warehoune building and the land on which it ilocated.The land had an appraised value of P2,000,000 and originalcost of PL,400.000. The building had an apprnined valueof Pa,000,000 and original coet of P2,800,000.* Purchased an office building and the Iand on which it islocated for P7,600,000 cash and assumed an existingP2.b00,000 mortgage.Por realty tax purposes, the property is assesed atP9.600,000, 60% of which in allocated to the building.Acquired a tract of land in exchange for 25,000 shares ofTrisha Company with P100 par value and a market prioeof PI20 per ahare on the date of sequisition. The lastproperty tax bill indicated.ansessed value of P2,400,000for the land.L. What in the total coet of land?a. 9,160,000b. 8,500.000e. 9,000,000d. 8,660,0002 What is the total cost of building?a. 8,760,000b 9,240,000e 9,000,000d. 7,700,000324

Land is a non-current tangible fixed asset which represents the real estate owned by the firm. It is…

Problem 15-1 (AICPA Adapted) Trisha Company made the following quiaitions during year * Parchased for PS,400,000, ineluding appraiser fe Po0,000, warehone building and the land cn which located. The land had an appraised value of P2,000.000 and ori cot of PL,400.000 The building had an appraised v of Pa,000,000 and original coet of P2,800,000. * Purehaed an office building and the land on which located for P7,500,000 cash and assumed an exis P2.00,000 mortgage For realty tax purposes, the property ia asseese P.000,000, 60% of which is allocated to the building * Aequired a tract of land in exchange for 25,000 shan Trisha Company with PI00 par value and a marke p of PI20 per share on the date of acquisition. The property tax bill indicated.ansessed valae of P2,40 for the land. L What is the total coet of land? A 100,000 b 8500.000 e. 9,000,000 d. 8660,000 2 What is the total cost of building? a 870,000 9240000

Problem 15-1 (AICPA Adapted) Trisha Company made the following quiaitions during year * Parchased for PS,400,000, ineluding appraiser fe Po0,000, warehone building and the land cn which located. The land had an appraised value of P2,000.000 and ori cot of PL,400.000 The building had an appraised v of Pa,000,000 and original coet of P2,800,000. * Purehaed an office building and the land on which located for P7,500,000 cash and assumed an exis P2.00,000 mortgage For realty tax purposes, the property ia asseese P.000,000, 60% of which is allocated to the building * Aequired a tract of land in exchange for 25,000 shan Trisha Company with PI00 par value and a marke p of PI20 per share on the date of acquisition. The property tax bill indicated.ansessed valae of P2,40 for the land. L What is the total coet of land? A 100,000 b 8500.000 e. 9,000,000 d. 8660,000 2 What is the total cost of building? a 870,000 9240000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 3PA: During the current year, Alanna Co. had the following transactions pertaining to its new office...

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