-Intermediate Accounting 1-Week6-Project

-Intermediate Accounting 1-Week6-Project - Building 24 Book...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
12/7/2009 Week 6 Project 3 Part A. a.) Cost $255,000  b.) Dep. Expense Acc. Depreciation ($114,000) Acc. Depreciation Book Value $141,000  Fair Value $180,000  Gain $39,000  Acc. Dep. Gain Recognized $3,900  Machine Cash Machine Gain on Disposal Part B. a.) Hodge Cost $5,060,000  Acc. Dep. Acc.Dep. $2,400,000  Building M Book Value $2,660,000  Cash Fair Value $3,200,000  Building 24 Gain $540,000  Gain on  Disposal Gain Recognized $32,400  Fine Cost $6,020,000  Acc. Dep. Acc. Dep. $3,168,000 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Building 24 Book Value $2,852,000 Building M Fair Value $3,008,000 Cash Gain $156,000 DR. CR. $24,000 $24,000 DR. CR. $114,000 $126,000 $18,000 $255,000 $3,900 DR. CR. $2,400,000 b.) Check: Fair Value $3,008,000 $2,500,400 Deferred Gain ($507,000) $192,000 Basis for Building M $2,500,400 $5,060,000 $32,400 DR. CR. $3,168,000 $3,044,000 $6,020,000 $192,000...
View Full Document

Page1 / 2

-Intermediate Accounting 1-Week6-Project - Building 24 Book...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online