c: aliaga corporation, cost of land 3000000
cost of land 3270000
cost of building 10810000
cost of land improvements 72000
amount expensed 80000
total depreciable ppe 10882000
c: bongabon corporation, invoice price of machinery
2000000
recognized as cost of new machine 1985000
c: cabiao corporation purchased a tract of land (sit
enumber 101) with a building for 1800000, cabiao is
using the allowed alternative treatment for borrowing
cost.
cost of land site 101 2205000
cost of office building 10360500
depreciation of office building 97130
c: carrangalan company, acquisition price of land and
building 960000
land 322000
building 1044000
machinery 317032
c: cuyapo company, Jan i. purchased real property for
5026000, which included a charge of 146000
representing property tax for 2006 that had been
prepaid by the vendor
land 976000
buildings 4645600
machinery and equipment 560000
land improvements 436800
total ppe 6618400
c: gabaldon company, machinery and equipment Cost
1380000 Accumulated depreciation 367500, e. on
December 20,2006, a machine with a cost of 17000, a
carrying amount of 2975 on date of disposition, was
sold for 4000
gain on sale of truck 250
gain on sale of machinery 1025
adjusted balance of ppe 2351000
total depreciation expense 221402
ca of ppe 1578547
c: guimba company, additional data are as follows (1)
the 1500000 common stock was issued at a 10 percent
premium o the owners of the land and buildings on
December 31,2004, the date of organization
correct balance of land 630000
adjusted carrying value of building 907200
adjusted carrying value of machinery 348000
adjusted depreciation expense 63900
gain or loss on sale of machinery 6000 loss
c: jaen corporation, a. Land A and Building A were
acquired form a predecessor corporation. jaen paid
6560000 for the land and building together. at the time
of acquisition, the land had an appraised value of
720000
cost of building A 5904000
cost of Land B 728000
cost of Machine B 416000
total depreciation expense 265667
c: licab, inc., the following transactions occurred
during 2006: (a) on may 5, Asset L was sold for 32500
cash.
gain or loss on sale of Asset L 10250 gain
depreciation of Asset R 15000
adjusting entry to correct error 55000 credit
adjusted balance of Plant Assets 582500
total depreciation expense 82050
c: llanera corporation for the year 2006 disclosed the
following property dispositions: Land Cost 4800000
Accumulated depreciation - Proceeds 3720000 Fair
Value 3720000
land 1080000 loss
building 0
warehouse 1800000 gain
machine 288000 gain
delivery truck 66000 loss
c: talavera mining corporation for the year ended
December 31,2006, you noted that the company
purchased for 10400000 mining property estimated to
contain 8000000 tons of ore. the residual value of the
property is 800000.
depletion 960000
total inventoriable depreciation 384000
inventory as of dec. 31,2006 422400
cost of sales for the year 2005 1689600
maximum amount that may be declared as dividends
1302400
c: aliaga corporation, cost of land 3000000
cost of land 3270000
cost of building 10810000
cost of land improvements 72000
amount expensed 80000
total depreciable ppe 10882000
c: bongabon corporation, invoice price of machinery
2000000
recognized as cost of new machine 1985000
c: cabiao corporation purchased a tract of land (sit
enumber 101) with a building for 1800000, cabiao is
using the allowed alternative treatment for borrowing
cost.
cost of land site 101 2205000
cost of office building 10360500
depreciation of office building 97130
c: carrangalan company, acquisition price of land and
building 960000
land 322000
building 1044000
machinery 317032
c: cuyapo company, Jan i. purchased real property for
5026000, which included a charge of 146000
representing property tax for 2006 that had been
prepaid by the vendor
land 976000
buildings 4645600
machinery and equipment 560000
land improvements 436800
total ppe 6618400
c: gabaldon company, machinery and equipment Cost
1380000 Accumulated depreciation 367500, e. on
December 20,2006, a machine with a cost of 17000, a
carrying amount of 2975 on date of disposition, was
sold for 4000
gain on sale of truck 250
gain on sale of machinery 1025
adjusted balance of ppe 2351000
total depreciation expense 221402
ca of ppe 1578547
c: guimba company, additional data are as follows (1)
the 1500000 common stock was issued at a 10 percent
premium o the owners of the land and buildings on
December 31,2004, the date of organization
correct balance of land 630000
adjusted carrying value of building 907200
adjusted carrying value of machinery 348000
adjusted depreciation expense 63900
gain or loss on sale of machinery 6000 loss
c: jaen corporation, a. Land A and Building A were
acquired form a predecessor corporation. jaen paid
6560000 for the land and building together. at the time
of acquisition, the land had an appraised value of
720000
cost of building A 5904000
cost of Land B 728000
cost of Machine B 416000
total depreciation expense 265667
c: licab, inc., the following transactions occurred
during 2006: (a) on may 5, Asset L was sold for 32500
cash.
gain or loss on sale of Asset L 10250 gain
depreciation of Asset R 15000
adjusting entry to correct error 55000 credit
adjusted balance of Plant Assets 582500
total depreciation expense 82050
c: llanera corporation for the year 2006 disclosed the
following property dispositions: Land Cost 4800000
Accumulated depreciation - Proceeds 3720000 Fair
Value 3720000
land 1080000 loss
building 0
warehouse 1800000 gain
machine 288000 gain
delivery truck 66000 loss
c: talavera mining corporation for the year ended
December 31,2006, you noted that the company
purchased for 10400000 mining property estimated to
contain 8000000 tons of ore. the residual value of the
property is 800000.
depletion 960000
total inventoriable depreciation 384000
inventory as of dec. 31,2006 422400
cost of sales for the year 2005 1689600
maximum amount that may be declared as dividends
1302400