Student Name: Class: Problem 18.01A HARRIS COMPANY Capitalization


Question Description:

30

I am having a hard time getting this assignment understood. week 5 accounting.xls Student Name: Class: Problem 18.01A HARRIS COMPANY Capitalization Costs 1. Manufacturing Plant: Harris company Cost of manufacturing plant 2. Land Cost of land 3. Land Improvements Cost of land improvements $- Given Data P18.01A HARRIS COMPANY Cost of site for new Manufacturing plant on January 6, 2013 Cost to raze existing facility Fair market value of facility razed Amount received from salvage of facility razed Additional costs: Attorney fees Inspection fees Permit to raze facility Fill dirt for site Leveling of site Paving of sidewalks and curbs Building cost of new facility Cost of paving parking area $2,400,000 $16,000 $200,000 $10,000 $6,400 $1,850 $1,150 $50,400 $32,000 $125,000 $4,200,000 $125,700 Student Name: Class: Problem 18.02A ILLINOIS COMPANY Depreciation Calculations Straight-Line Method Year 1 2 3 Acquisition Cost Salvage Value Useful Life in Years Annual Accumulated Depreciation Depreciation Sum-of-the-Years’-Digits Method Year 1 2 3 Cost Less Salvage Fraction Annual Accumulated Depreciation Depreciation Double-Declining-Balance Method Year 1 2 3 Beginning Book Value Rate Annual Accumulated Depreciation Depreciation Analyze: The book value at the end of the second year is: Given Data P18.02A ILLINOIS COMPANY Cost of new equipment Date Purchased Useful life in years Salvage value $550,000 January 4, 2013 4 $50,000 Student Name: Class: Problem 18.03A HALL COMPANY Depreciation Calculations Straight-Line Method Year 2013 2014 2015 Acquisition Cost Salvage Value Useful Life in Years Annual Accumulated Depreciation Depreciation Sum-of-the-Years’-Digits Method Year 2013 2014 2015 Acquisition Cost Salvage Value Total Expected Actual Units of Units of Production Production Cost per Unit Annual Accumulated Depreciation Depreciation Given Data P18.03A HALL COMPANY Cost of new equipment Date Purchased Useful life in years Useful life in units of production Salvage value Actual production data: 2013 units produced 2014 units produced 2015 units produced $260,000 January 5, 2013 5 200,000 $20,000 40,000 56,000 46,000 Read more

Answer

30