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Use the following to answer questions 1-4 BLK Company purchased land as a factory site....

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Accounting

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Use the following to answer questions 1-4 BLK Company purchased land as a factory site. An old building on the property was demolished, and construction began on a new building. Costs incurred during the first year are listed below: Land purchase chitect foes (for new bui on land (for of land itle How much of the "property taxes on the land for the first year" should be capitalized in the Land account? 2. How should the "sale of salvaged materials" be recorded? A. As an added cost of the land B. As a reduction of the cost of the land C. As an added cost to the building D. As a reduction of the cost of the building What amount should be recorded to the Land account What amount should be recorded to the Building account? Use the following to answer questions 5- 18 TLC's Property Management purchased a fleet of new mowers for an acquisition cost of $128,000. The company estimates the equipment will have a residual value of S20,000 when they are done using the mowers at the end of four years or about 90,000 machine hours. Prepare a depreciation following methods (straight-line, declining balance: activity based): schedule for four years using t he Straight-line: 180% declining balance

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