ACCT 355

Concordia College

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ACCT 212 Week 6 Quiz (Summer 2021)
Exam (elaborations) • 15 pages • 2021

1. Question: Which of the following expenditures should … as an asset? Interest costs during the construction period of a new building. 2. Question: A company purchased land and building from a seller for $900,000. A separate appraisal reveals the fair value of the land to … $200,000 and the fair value of the building to … $800,000. For what amount would the company record land at the time of purchase? 3. Question: Kansas Enterprises … equipment for $80,500 on January 1, 2021. The ...