This is a very nice paper and reads very well. Thank you for another job well done!
A company purchases property that includes land, buildings and equipment for $4.6 million. The company pays $185,000 in legal fees, $212,000 in commissions, and $107,000 in appraisal fees. The land is estimated at 26%, the buildings are at 44%, and the equipment at 30% of the property value. Prepare the journal entry that is required to record the purchase assuming that the company paid 50% of the amounts using cash and signed a note for the remainder. (If no entry is required for a transaction/event, select “No Journal Entry Required” in the first account field. Enter your answer in dollars and not in millions.)
Record the purchase of land, buildings and equipment assuming that the company paid 50% of the amounts using cash and signed a note for the remainder.SOLUTIONCost of propertyAdd:Add:Add: $4,600,000 Legal fees $185,000 Commissions $212,000 Appraisal fees$107,000Total acquisition cost $5,104,000 Land ($5,104,000 x 26%)Buildings…
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more