QUESTION 1 Bridge City Consulting bought a building and the land on which it is located for $103,800 cash. The building is estimated to represent 39 percent of the purchase price. The company paid $146,550 for building renovations before it was ready for use. When preparing the journal entry to record all expenditures related to the purchase and renovation, the debit to building would be $

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es Required information. [The following information applies to the questions displayed below.] Bridge City Consulting bought a building and the land on which it is located for $135,000 cash. The land is estimated to represent 50 percent of the purchase price. The company paid $6,000 for building renovations before it was ready for use. 3. Compute straight-line depreciation on the building at the end of one year, assuming an estimated 10-year useful life and a $4,000 estimated residual value. (Do not round intermediate calculations.) 4. What should be the book value of (a) the land and (b) the building at the end of year 2? Straight-Line Depreciation 3 4(a) Land 4(b) Building

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Rodriguez Company pays $331,695 for real estate with land, land improvements, and a building. Land is appraised at $243,000; land improvements are appraised at $81,000; and the building is appraised at $216,000. 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Allocate the total cost among the three assets. (Round your "Apportioned Cost" answers to 2 decimal places.) Appraised Value Percent of Total Appraised Value x Total Cost of = Apportioned Acquisition Cost Land Land improvements Building Totals Required 2 > Required 1

QUESTION 1 Scott Industries had the following transactions during 2022: 1. Acquired an office building on three acres of land for a lump-sum price of $2,000,000. According to independent appraisals, the fair values were $1,325,000 and $790,000 for the building and land, respectively. A cash down payment of $500,000 20-Jan was made with the remainder financed. 2. Purchased equipment paying $19,000 at the date of purchase and signing a noninterest-bearing note requiring the balance to be paid in five annual installments of $19,000 on the anniversary date of the contract. Based on Cool Globe's 8% borrowing rate for such transactions, the implicit interest cost is $19,139. 3-Feb 3. Received a gift of land and building in Twin Pines Park as an inducement to 15-Mar relocate. The land and buildings have fair values of $39,000 and $395,000. Required: Pepare the journal entries for the transactions above. Round journal entry amounts to the nearest whole dollar. Date Accounts Debit Credit…

Paragraph Styles A medical facility purchased a new copy machine for the billing office at a price of $25,000,000.00 on January 1, 2021. Its useful life is 6 years with a salvage value of $2,500,000.00. Calculate deprecation for the first 4 years using the following methods: (you may round all figures to the nearest dollar) Straight Line DDB SYD

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