On October 1 Computer Solutions purchased an office building for $473,000, which included land, building,...
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On October 1 Computer Solutions purchased an office building for $473,000, which included land, building, and office equipment. The purchase was financed with a 30 year loan from the bank with an interest rate of 3% (ordinary annuity). The first payment is due November 1. Appraisal of the property came in at $525,000 with land appraised at $200,000; building, $275,000, and office equipment, $50,000 Question 2 At what amount should the building be capitalized (round to nearest dollar)? Question 3 At what amount should the office equipment be capitalized (round to nearest dollar)? Question 4 What is the amount of the loan payment (rounded to the nearest dollar
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