Computing and recording cost and depreciation of assets (straight-line depreciation) shahia company bought a building for $382,000 cash and the land on which it was located for $107,000 cash. the company paid transfer costs of $9,000 ($3,000 for the building and $6,000 for the land). renovation costs on the building before it could be used were $21,000.
required:
1. give the journal entry to record the purchase of the property, including all relevant expenditures. assume that all transactions were for cash and that all purchases occurred at the start of the year.
2. compute straight-line depreciation at the end of one year, assuming an estimated 10-year useful life and a $15,000 estimated residual value.
3. what would be the net book value of the property (land and building) at the end of year 2?

Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?

The following are line items from the horizontal analysis of an income statement:increase/ (decrease) increase/ (decrease) 2017 2016 amount percent fees earned $120,000 $100,000 $20,000 20% wages expense 50,000 40,000 10,000 25 supplies expense 2,000 1,700 300 15 which of the items is stated incorrectly? a. fees earned b. supplies expense c. none of these choices are correct. d. wages expense

En major recording acts are able to play at the stadium. if the average profit margin for a concert is $175,000, how much would the stadium clear for all of these events combined?