Calculate Cost of Land and Building Sample Assignment
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National Traders
Calculation of Cost of Land and Building
Calculate Cost of Land and Building Sample Assignment
Q. National Trader bought a piece of land in order to build a factory for Rs. 4,00,000 on 1 January 20x1 . There was on old factory on the site which cost Rs. 17,200 to demolish although some materials were salvaged and sold for Rs. 7,600. Architect’s fees was Rs. 17,400 plus Rs.800 for civic charges. The building contractor was paid Rs. 19,00,000 as the contract price but Rs. 24000 paid for leveling the site before building commenced. After the building was completed, a landscape Gardner was paid Rs. 12,400 and a car park was constructed at a cost of Rs. 16,000. Outside lighting cost Rest. 6,400 and a few weeks after the building was occupied it was decided to build a wall at the rear of the plot for Rs. 11,600.Interim payments were made during construction to the builder. Determine the cost of the land and cost of the building.Solution :
National Traders
Calculation of Cost of Land and Building
| Land Amount paid Add: Cost of demolishing Factory Less:Materials salvaged and sold |
Rs. 17,200 7,600 |
Rs. 4,00,000 9,600 _______ 4,09,600 |
| Cost of Building Rs Architect's fees 17,400 Civic charges 800 Contract price 19,00,000 Leavelling the land 24,000 Payment to landscape gardner 12,400 Construction of car park 16,000 Lighting 6,400 Wall construction 11,600 19.88,00 |
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