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Determining cost of land On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $60,000 in cash and giving a short-term note for $100,000. Legal fees paid were $1,250, delinquent taxes assumed were $10,000, and fees paid to remove an old buliding from the land were $8,000, Materials salvaged from the demolition of the building were sold for $1,500. A contractor was paid $415,000 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet. Determining cost of land On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $43,000 in cash and giving a short-term note for $288,000. Legal fees paid were $1,895, delinquent taxes assumed were $11,400, and fees paid to remove an old bulling from the land were $20,700, Materials salvaged from the demolition of the building were sold for $5,000. A contractor was paid $1,006,200 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet. s. Depredation by units-of-activity method A diesel-powered tractor with a cost of $152,140 and an estimated residual value of $7,500 is expected to have a useful operating life of 64,000 hours. During April, the tractor was operated 300 hours. Determine the depreciation for the month. If required, carry out any division to two decimal places

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