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1. Assume Milne's Moving & Storage Ltd. (MMS) of Regina, Saskatchewan, incurred the following costs in acquiring land, making land improvements, and constructing and furnishing its own storage warehouse: $350,000 8,100 31,600 1,000 7,500 3,400 a. Purchase price of 4 acres of land, including an old building that will be used for an office (land fair value is $320,000, building fair value is $80,000) b. Landscaping (additional dirt and earth moving) C. Fence around the land d. Lawyer fee for title search on the land e. Delinquent real estate taxes on the land to be paid by MMS f. Company signs at front of the company property g. Building permit for the warehouse h. Architect fee for the design of the warehouse i. Masonry, carpentry, roofing, and other labour to construct the warehouse j. Renovation of the office building k. Interest cost on construction loan for warehouse 1. Landscaping (trees and shrubs) m. Parking lot, concrete walks, and lights on the property n. Concrete, wood, and other materials used in the construction of the warehouse 0. Supervisory salary of construction supervisor (85% to warehouse, 5% to land improvements, 10% to office building) p. Office furniture q. Transportation and installation of furniture 1,500 24,500 920,000 50,200 9,700 8,200 57,600 234,300 60,000 115,700 2,300 Assume MMS depreciates buildings over 40 years, land improvements over 20 years, and furniture over 8 years, all on a straight-line basis with zero residual value. Requirements: Set up columns for Land, Land Improvements, Warehouse, Office Building, and Furniture. Show how to account for each of MMS's costs by listing the cost under the correct account. Determine the total cost of each asset, using the form given below. Assuming that all construction was complete, and the assets were placed in service on September 1, 2017, record depreciation for the year ended December 31, 2017. Round to the nearest dollar.

2.Shown below in T-account format are the changes affecting the retained earnings of Brenner-Jude Corporation during 2021. At January 1, 2021, the corporation had outstanding 103 million common shares, $1 par per share. Retained Earnings ($ in millions) 98 Beginning balance Retirement of 3 million common shares for $27 6 million 82 Net income for the year Declaration and payment of a $0.30 per share cash 30 dividend Declaration and distribution of a 24 4% stock dividend 120 Ending balance Required: 1. From the information provided by the account changes, you should be able to recreate the transactions that affected Brenner-Jude's retained earnings during 2021. Prepare the journal entries that Brenner-Jude must have recorded during the year for these transactions. (Hint: In lieu of revenues and expenses, use an account titled "Income summary" to close net income or net loss.)
View transaction list X > 1 Record the retirement of common shares. 2 Record the closing entry for net income. 3 Record the declaration and payment of a cash dividend. 4 Record the declaration and distribution of a stock dividend. Credit Note : journal entry has been entered Record entry View general journal

3.The shareholders' equity of ILP Industries includes the items shown below. The board of directors of ILP declared cash dividends of $6 million, $4 million, and $190 million in its first three years of operation–2021, 2022, and 2023, respectively. ($ in millions) $ 50 860 Common stock Paid-in capital-excess of par, common Preferred stock, 8% Paid-in capital-excess of par, preferred 100 580 Required: Determine the amount of dividends to be paid to preferred and common shareholders in each of the three years, assuming that the preferred stock is cumulative and nonparticipating. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Par Value Preferred Stock Dividend Rate Annual Preferred Dividend Annual Preferred Dividend: % Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year- end 2021 2022 2023 Total.

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