Presentation is loading. Please wait.

Presentation is loading. Please wait.

2. Acquisition Cost Notes Payable Building Land Land Building

Published byYuliani Jayadi Modified over 6 years ago

Similar presentations

Presentation on theme: "2. Acquisition Cost Notes Payable Building Land Land Building"— Presentation transcript:

1 2. Acquisition Cost Notes Payable Building Land Land Building
Example: Determine how the following should be classified: Money borrowed to pay building contractor Payment for construction from note proceeds Cost of land fill and clearing Delinquent real estate taxes on property assumed Premium on 6-month insurance policy during construction Refund of 1-month insurance premium because construction completed early Notes Payable Building Land Land Building (Building) LO 2

2 2. Acquisition Cost Building Land Land Land (Land) Land
Example Continued (g) Architect’s fee on building (h) Cost of real estate purchased as a plant site (land $200,000 and building $50,000) (i) Commission fee paid to real estate agency (j) Installation of fences around property (k) Cost of razing and removing building Proceeds from salvage of demolished building Cost of parking lots and driveways Cost of trees and shrubbery (permanent) Building Land Land Land Improvements Land (Land) Land Improvements Land LO 2

Download ppt "2. Acquisition Cost Notes Payable Building Land Land Building"

Similar presentations

Property, Plant & Equipment

Property, Plant & Equipment
PREVIEW OF CHAPTER 10 Intermediate Accounting IFRS 2nd Edition

PREVIEW OF CHAPTER 10 Intermediate Accounting IFRS 2nd Edition
Acquisition and Disposition of Property, Plant, and Equipment

Acquisition and Disposition of Property, Plant, and Equipment
Aktiva Tetap Berwujud dan Tidak Berwujud serta Sumberdaya Alam

Aktiva Tetap Berwujud dan Tidak Berwujud serta Sumberdaya Alam
AIM3331-Interm. Acctg. Acqusition and Disposition of PP&E1 Operational Assets: Acquisition Operational Assets: Actively used in operations Expected to.

AIM3331-Interm. Acctg. Acqusition and Disposition of PP&E1 Operational Assets: Acquisition Operational Assets: Actively used in operations Expected to.
© The McGraw-Hill Companies, Inc., 2005 McGraw-Hill/Irwin Plant Assets, Natural Resources, and Intangibles Chapter 10.

© The McGraw-Hill Companies, Inc., 2005 McGraw-Hill/Irwin Plant Assets, Natural Resources, and Intangibles Chapter 10.
© 2010 Prentice Hall Business Publishing, College Accounting: A Practical Approach, 11e by Slater Accounting for Property, Plant, Equipment & Intangible.

© 2010 Prentice Hall Business Publishing, College Accounting: A Practical Approach, 11e by Slater Accounting for Property, Plant, Equipment & Intangible.
10-1 Prepared by Coby Harmon University of California, Santa Barbara Intermediate Accounting.

10-1 Prepared by Coby Harmon University of California, Santa Barbara Intermediate Accounting.
16 - 1 © 2004 Prentice Hall Business Publishing, College Accounting: A Practical Approach, 9e by Slater Accounting for Property, Plant Equipment, and.

© 2004 Prentice Hall Business Publishing, College Accounting: A Practical Approach, 9e by Slater Accounting for Property, Plant Equipment, and.
10 Acquisition and Disposition of Property, Plant, and Equipment

10 Acquisition and Disposition of Property, Plant, and Equipment
Operational Assets - Property, Plant, and Equipment Chapter 10 Kieso, Weygandt, Warfield.

Operational Assets - Property, Plant, and Equipment Chapter 10 Kieso, Weygandt, Warfield.
Chapter 10-1 Chapter 10 Plant Assets, Natural Resources, and Intangible Assets Accounting Principles, Ninth Edition.

Chapter 10-1 Chapter 10 Plant Assets, Natural Resources, and Intangible Assets Accounting Principles, Ninth Edition.
©2006 Prentice Hall Business Publishing Financial Accounting, 6/e Harrison/Horngren 1 Chapter 7 Plant Assets, Intangible Assets, and Related Expenses.

©2006 Prentice Hall Business Publishing Financial Accounting, 6/e Harrison/Horngren 1 Chapter 7 Plant Assets, Intangible Assets, and Related Expenses.
PLANT ASSETS STUDY OBJECTIVES After studying this chapter, you should understand: The cost of plant assets Revising periodic depreciation The concept of.

PLANT ASSETS STUDY OBJECTIVES After studying this chapter, you should understand: The cost of plant assets Revising periodic depreciation The concept of.
BSAD 221 Introductory Financial Accounting Donna Gunn, CA.

BSAD 221 Introductory Financial Accounting Donna Gunn, CA.
Classification of PP&E

Classification of PP&E
Depreciation... key terms Depreciation: the process of systematically allocating the cost of an asset over its useful life. Salvage value: The estimated.

Depreciation... key terms Depreciation: the process of systematically allocating the cost of an asset over its useful life. Salvage value: The estimated.
Reporting and Interpreting Property, Plant and Equipment; Natural Resources; and Intangibles Chapter 8 McGraw-Hill/Irwin © 2009 The McGraw-Hill Companies,

Reporting and Interpreting Property, Plant and Equipment; Natural Resources; and Intangibles Chapter 8 McGraw-Hill/Irwin © 2009 The McGraw-Hill Companies,
10 - 1 ©2002 Prentice Hall, Inc. Business Publishing Accounting, 5/E Horngren/Harrison/Bamber Accounting for Plant Assets, Intangible Assets, and Related.

©2002 Prentice Hall, Inc. Business Publishing Accounting, 5/E Horngren/Harrison/Bamber Accounting for Plant Assets, Intangible Assets, and Related.
Visit UMT online at www.umtweb.edu© South-Western 2004 Survey of Accounting, 2/e 1 of 57 Chapter 7, ACCT125 ACCOUNTING FUNDAMENTALS FOR MANAGERS University.

Visit UMT online at South-Western 2004 Survey of Accounting, 2/e 1 of 57 Chapter 7, ACCT125 ACCOUNTING FUNDAMENTALS FOR MANAGERS University.

Similar presentations

Ads by Google