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Sunday, November 14, 2010

Valix Finacc vol 1 Problem 16-5

Financial Accounting Volume 1 2008 Valix-Peralta
Chapter 16 Problem 16-5

Taxes in arrears                                                                                                            50,000
Payment for land                                                                                                    1,000,000
Demolition of old building                                                                                         100,000
Total cost of land                                                                                                    1,150,000

Architect fee                                                                                                               230,000
Payment to city hall                                                                                                   120,000
Contract price                                                                                                                    5,000,000
Safety fence around construction site                                                             35,000
Safety inspection on building                                                                                      30,000
Removal of safety fence                                                                                             20,000
Total cost of factory building                                                                                  5,435,000

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