Land Building & Machinery - 8.docx - Accordion Company incurred the following expenditure in 2010 Purchase of Land Land survey Fees for search of

Land Building & Machinery - 8.docx - Accordion Company...

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Accordion Company incurred the following expenditure in 2010: Purchase of Land 7,800,000 Land survey 104,000 Fees for search of title for land 12,000 Building permit fee 70,000 Temporary quarters for construction crews 215,000 Payments to tenants of an old building for vacating premises 92,000 Cost to demolish building 940,000 Excavation of basement 200,000 Special assessment for street project 40,000 Dividends 100,000 Damages awarded for injuries sustained in construction (no insurance carried) 168,000 Cost of construction 58,000,000 Cost of paving parking lot adjoining building 800,000 Cost of shrubs, trees, and other landscaping 660,000. A portion of the building site had been temporarily used by accordion to operate a car park while the building was being constructed. A total of P325,000 ( charged to profit or loss) was earned by accordion from this incidental activity. 1 What is the cost of the building? 5. Mandolin Corp. uses different kinds of machines in its manufacturing process. It construct some of these machines itself and acquire others from the manufacturers. The following information relates to two
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  • Fall '14
  • DeborahPembleton

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