Homework answers / question archive /  Best Beauty Salon purchased land and a building for $8,000,000 on 1/1

 Best Beauty Salon purchased land and a building for $8,000,000 on 1/1

Accounting

Share With

 Best Beauty Salon purchased land and a building for $8,000,000 on 1/1. The estimated fair market values of the land and building are $2,000,000 and $8,000,000, respectively. What amount should be recorded in the building account on 1/1? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 4.75 pts Question 20 UCF Diner bought a delivery truck on 1/1 at a cost of $37,000, an estimated salvage (residual) value of $9.000, and an estimated useful life of 5 years. The truck is being depreciated on a straight-line basis. At the end of the first year (12/31), what amount will be reported for depreciation expense? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period. decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123