4 rt 1 of 3 1 2 nts eBook Print eferences Required information The following...
80.2K
Verified Solution
Link Copied!
Question
Basic Math
4 rt 1 of 3 1 2 nts eBook Print eferences Required information The following information applies to the questions displayed below On January 1 Mitzu Company pays a lump sum amount of 2 800 000 for land Building 1 Building 2 and Land Improvements 1 Building 1 has no value and will be demolished Building 2 will be an office and is appraised at 823 500 with a useful life of 20 years and a 75 000 salvage value Land Improvements 1 is valued at 366 000 and is expected to last another 12 years with no salvage value The land is valued at 1 860 500 The company also incurs the following additional costs Cost to demolish Building 1 Cost of additional land grading Cost to construct Building 3 having a useful life of 25 years and a 398 000 salvage value Cost of new Land Improvements 2 having a 20 year useful life and no salvage value Required 1 Allocate the costs incurred by Mitzu to the appropriate columns and total each column Allocation of Purchase Price Land Building 2 Appraised Value Percent of Total Appraised Value X X X X Total cost of acquisition Apportioned Cost 340 400 185 400 2 262 000 173 000 Check my work
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
