April 5-2011 - PROBLEM 10-1 (a) REAGAN COMPANY Analysis of...

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PROBLEM 10-1 (a) REAGAN COMPANY Analysis of Land Account for 2010 Balance at January 1, 2010. ................. $ 230,000 Land site number 621 Acquisition cost. ................................... $850,000 Commission to real estate agent. ........ 51,000 Clearing costs. ....................................... $35,000 Less: Amounts recovered. .................. 13,000 22,000 Total land site number 621. ...... 923,000 Land site number 622 Land value. ............................................. 300,000 Building value. ....................................... 120,000 Demolition cost. .................................... 41,000 Total land site number 622. ...... 461,000 Balance at December 31, 2010. ............ $1,614,000 REAGAN COMPANY Analysis of Buildings Account for 2010 Balance at January 1, 2010. .......................... $ 890,000 Cost of new building constructed on land site number 622 Construction costs. ............................. $330,000 Excavation fees. ................................... 38,000
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This note was uploaded on 04/29/2011 for the course ACCT 3001 taught by Professor Erickson during the Spring '10 term at University of Minnesota Duluth.

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April 5-2011 - PROBLEM 10-1 (a) REAGAN COMPANY Analysis of...

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