home > Sample Assignment > Accounting Homework Assignment > Calculate 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

 

Other Sample Assignments in Accounting Homework Assignment :

Calculate Cost of Land and Building	Calculate Depreciation
Calculate Depreciation By Equal	Calculate Depreciation Diminishing Balance
Calculate Depreciation Expense	Inventory Valuation
Calculate Cost Of Sale	Calculate Inventory And Profit
Fifo Lifo	Financial Statements profit and loss
Financal Statements

---

---