McGraw Hill Higher EducatC Chegg Study |Guided SolurtWeek 1:Practice Proble XMHE

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McGraw Hill Higher EducatC Chegg Study |Guided SolurtWeek 1:Practice Proble XMHE eBook-Price, College+ 0 1?newconnectm k 1 Practice Problems On January 6, 2019, Baxter Company purchased a site for a new manufacturing plant for $2.900,000. At a cost of $18.500, it razed an existing facility (fair market value $250,000) and received $12.000 from its salvage. The company also paid $6,900 in attorney fees, $2,100 in inspection fees, and $1,400 for a permit to raze the fecility. After the facility was torn down, the foilowing costs were incurred $55,400 for fill dirt for the site, $37.000 for leveling the site. $130,000 for paving sidewalks and curbs, and $4,700.000 for building costs of the new facility. The parking area was paved at a cost of $130,700 Required 1-3. Compute the capitalized cost of the manufacturing plant, land and land improvements ingLand g plant Demoliton of buldng Peterences and paving of parking lot Type here to search

Explanation / Answer

Please note the numbers 1,2 denotes the corresponding expenditure in the question.  

Plant Land Improvement 1 $ 4,700,000.00 2 $    2,900,000.00 3 $          18,500.00 4 $        (12,000.00) 5 $            6,900.00 6 $            2,100.00 7 $            1,400.00 8 $          55,400.00 9 $          37,000.00 10 $   130,000.00 11 $   130,700.00

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