Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ellies cupcakes inc. paid $300,000 for land and $6

Ellies Cupcakes Inc. paid $300,000 for land and $65,000 to have the old building removed...

70.2K

Verified Solution

Question

Accounting

Ellies Cupcakes Inc. paid $300,000 for land and $65,000 to have the old building removed from the land. The company also had to pay $9,000 in back property taxes. The company paid $750,000 for construction of a new building, including design. Fencing cost, the company $50,000 and lighting around the outside of the building cost the company $35,000. The company paid $75,000 for a parking lot and signage cost $25,000.

Required

Determine the cost of the land, land improvements, and building.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Ohio Inc. has a beta of 1.6 and its debt-to-equity ratio is 0.8. The risk-free rate...

Mechanical Engineering
1.2K views

A 35-kg box of beef at 6 C having a water content of 60% is...

Biology
1.2K views

37 Which protein has binding sites for integrin and collagen A alpha catenin B beta...

Biology
1.2K views

In comparisons of the evolutionary relationships between four species of birds which of the following...

Basic Math
1.2K views

Using the data given below, determine whether it would unusual for a household to have...

Statistics
1.2K views

Cereal for Breakfast A parent claims that kids eat cereal for breakfast more often than...

Accounting
1.2K views

Big Wheel, Inc. collects 25% of its sales on account in the month of the...

Accounting
1.2K views

[The following information applies to the questions displayed below.] Sweeten Company had...

Accounting
1.2K views

Waterways Corporation is preparing its budget for the coming year, 2022. The first step is...

Finance
1.2K views

Question 5 1 pts If the salvage value, at the time of an asset disposition,...

Accounting
1.2K views

Kiley Corp had these transactions during 2022. a) Purchased a machine for $30,000, giving a...

Finance
1.2K views

SYNOPSIS OF THE FIDENTIA SCANDAL J Arthur Brown, the mastermind of the Fidentia scandal, lavishly...