PROBLEM 10-2 - PROBLEM 10-2 (a) Spud Webb Corporation...

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PROBLEM 10-2 (a) Spud Webb Corporation ANALYSIS OF LAND ACCOUNT 2007 Balance at January 1, 2007 $300,000 Plant facility acquired from Ken Norman Company— portion of fair value allocated to land (Schedule 1) 185,000 Balance at December 31, 2007 $485,000 Spud Webb Corporation ANALYSIS OF LAND IMPROVEMENTS ACCOUNT 2007 Balance at January 1, 2007 $140,000 Parking lots, streets, and sidewalks 95,000 Balance at December 31, 2007 $235,000 Spud Webb Corporation ANALYSIS OF BUILDINGS ACCOUNT 2007 Balance at January 1, 2007 $1,100,000 Plant facility acquired from Ken Norman Company— portion of fair value allocated to building (Schedule 1) 555,000 Balance at December 31, 2007 $1,655,000 10-45 PROBLEM 10-2 (Continued) Spud Webb Corporation
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ANALYSIS OF MACHINERY AND EQUIPMENT ACCOUNT 2007 Balance at January 1, 2007 $ 960,000 Cost of new machinery and equipment acquired Invoice price $400,000 Freight and unloading costs 13,000 Sales taxes 20,000 Installation costs 26,000 459,000 $1,419,000 Deduct cost of machines disposed of
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PROBLEM 10-2 - PROBLEM 10-2 (a) Spud Webb Corporation...

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