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    Vivy D
    Reagan Company analyzed its land and buildings accounts for 2015. For the land account, it acquired land site 621 for £923,000 total and land site 622 for £461,000 total. The total balance for the land account was £1,614,000 at the end of 2015. For the buildings account, Reagan constructed a new building on land site 622 for £381,500 total. The total balance for the buildings account was £1,271,500 at the end of 2015.

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    CCCCZC

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    Vivy D
    86 views50 pages
    Reagan Company analyzed its land and buildings accounts for 2015. For the land account, it acquired land site 621 for £923,000 total and land site 622 for £461,000 total. The total balance for the land account was £1,614,000 at the end of 2015. For the buildings account, Reagan constructed a new building on land site 622 for £381,500 total. The total balance for the buildings account was £1,271,500 at the end of 2015.

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    Reagan Company analyzed its land and buildings accounts for 2015. For the land account, it acquired land site 621 for £923,000 total and land site 622 for £461,000 total. The total balance for the land account was £1,614,000 at the end of 2015. For the buildings account, Reagan constructed a new building on land site 622 for £381,500 total. The total balance for the buildings account was £1,271,500 at the end of 2015.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    86 views50 pages

    CCCCZC

    Uploaded by

    Vivy D
    Reagan Company analyzed its land and buildings accounts for 2015. For the land account, it acquired land site 621 for £923,000 total and land site 622 for £461,000 total. The total balance for the land account was £1,614,000 at the end of 2015. For the buildings account, Reagan constructed a new building on land site 622 for £381,500 total. The total balance for the buildings account was £1,271,500 at the end of 2015.

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    of 50

    REAGAN COMPANY

    Analysis of Land Account


    for 2015
    Balance at January 1, 2015
    .................
    £ 230,000

    Land site number 621


    Acquisition cost
    ...................................
    £850,000
    Commission to real estate
    agent ........
    51,000
    Clearing costs
    ......................................
    £35,000
    Less: Amounts recovered
    ..................
    13,000
    22,000
    Total land site
    number 621 ......
    923,000

    Land site number 622


    Land value
    ............................................
    300,000
    Building value
    .......................................
    120,000
    Demolition cost
    ....................................
    41,000
    Total land site
    number 622 ......
    Balance at December 31,
    2015 ............
    461,000
    £1,614,000
    REAGAN
    COMPANY
    Analysis of Buildings
    Account
    for 2015
    Balance at January 1, 2015
    ...........................
    £ 890,000
    Cost of new building
    constructed

    on land site number 622


    Construction costs
    ...............................
    £330,000
    Excavation fees
    .....................................
    38,000
    Architectural design
    fees .....................
    11,000
    Building permit fee
    ...............................
    2,500
    381,500
    Balance at December 31,
    2015 ......................
    £1,271,500
    REAGAN COMPANY
    Analysis of Land Account
    for 2015
    Balance at January 1, 2015
    .................
    £ 230,000

    Land site number 621


    Acquisition cost
    ...................................
    £850,000
    Commission to real estate
    agent ........
    51,000
    Clearing costs
    ......................................
    £35,000
    Less: Amounts recovered
    ..................
    13,000
    22,000
    Total land site
    number 621 ......
    923,000
    Land site number 622
    Land value
    ............................................
    300,000
    Building value
    .......................................
    120,000
    Demolition cost
    ....................................
    41,000
    Total land site
    number 622 ......
    Balance at December 31,
    2015 ............
    461,000
    £1,614,000
    REAGAN
    COMPANY
    Analysis of Buildings
    Account
    for 2015
    Balance at January 1, 2015
    ...........................
    £ 890,000
    Cost of new building
    constructed

    on land site number 622

    Construction costs
    ...............................
    £330,000
    Excavation fees
    .....................................
    38,000
    Architectural design
    fees .....................
    11,000
    Building permit fee
    ...............................
    2,500
    381,500
    Balance at December 31,
    2015 ......................
    £1,271,500
    REAGAN COMPANY
    Analysis of Land Account
    for 2015
    Balance at January 1, 2015
    .................
    £ 230,000

    Land site number 621


    Acquisition cost
    ...................................
    £850,000
    Commission to real estate
    agent ........
    51,000
    Clearing costs
    ......................................
    £35,000
    Less: Amounts recovered
    ..................
    13,000
    22,000
    Total land site
    number 621 ......
    923,000

    Land site number 622


    Land value
    ............................................
    300,000
    Building value
    .......................................
    120,000
    Demolition cost
    ....................................
    41,000
    Total land site
    number 622 ......
    Balance at December 31,
    2015 ............
    461,000
    £1,614,000
    REAGAN
    COMPANY
    Analysis of Buildings
    Account
    for 2015
    Balance at January 1, 2015
    ...........................
    £ 890,000
    Cost of new building
    constructed
    on land site number 622

    Construction costs
    ...............................
    £330,000
    Excavation fees
    .....................................
    38,000
    Architectural design
    fees .....................
    11,000
    Building permit fee
    ...............................
    2,500
    381,500
    Balance at December 31,
    2015 ......................
    £1,271,500
    REAGAN COMPANY
    Analysis of Land Account
    for 2015
    Balance at January 1, 2015
    .................
    £ 230,000

    Land site number 621


    Acquisition cost
    ...................................
    £850,000
    Commission to real estate
    agent ........
    51,000
    Clearing costs
    ......................................
    £35,000
    Less: Amounts recovered
    ..................
    13,000
    22,000
    Total land site
    number 621 ......
    923,000
    Land site number 622
    Land value
    ............................................
    300,000
    Building value
    .......................................
    120,000
    Demolition cost
    ....................................
    41,000
    Total land site
    number 622 ......
    Balance at December 31,
    2015 ............
    461,000
    £1,614,000
    REAGAN
    COMPANY
    Analysis of Buildings
    Account
    for 2015
    Balance at January 1, 2015
    ...........................
    £ 890,000
    Cost of new building
    constructed

    on land site number 622

    Construction costs
    ...............................
    £330,000
    Excavation fees
    .....................................
    38,000
    Architectural design
    fees .....................
    11,000
    Building permit fee
    ...............................
    2,500
    381,500
    Balance at December 31,
    2015 ......................
    £1,271,500
    REAGAN COMPANY
    Analysis of Land Account
    for 2015
    Balance at January 1, 2015
    .................
    £ 230,000

    Land site number 621


    Acquisition cost
    ...................................
    £850,000
    Commission to real estate
    agent ........
    51,000
    Clearing costs
    ......................................
    £35,000
    Less: Amounts recovered
    ..................
    13,000
    22,000
    Total land site
    number 621 ......
    923,000

    Land site number 622


    Land value
    ............................................
    300,000
    Building value
    .......................................
    120,000
    Demolition cost
    ....................................
    41,000
    Total land site
    number 622 ......
    Balance at December 31,
    2015 ............
    461,000
    £1,614,000
    REAGAN
    COMPANY
    Analysis of Buildings
    Account
    for 2015
    Balance at January 1, 2015
    ...........................
    £ 890,000
    Cost of new building
    constructed
    on land site number 622

    Construction costs
    ...............................
    £330,000
    Excavation fees
    .....................................
    38,000
    Architectural design
    fees .....................
    11,000
    Building permit fee
    ...............................
    2,500
    381,500
    Balance at December 31,
    2015 ......................
    £1,271,500
    REAGAN COMPANY
    Analysis of Land Account
    for 2015
    Balance at January 1, 2015
    .................
    £ 230,000

    Land site number 621


    Acquisition cost
    ...................................
    £850,000
    Commission to real estate
    agent ........
    51,000
    Clearing costs
    ......................................
    £35,000
    Less: Amounts recovered
    ..................
    13,000
    22,000
    Total land site
    number 621 ......
    923,000
    Land site number 622
    Land value
    ............................................
    300,000
    Building value
    .......................................
    120,000
    Demolition cost
    ....................................
    41,000
    Total land site
    number 622 ......
    Balance at December 31,
    2015 ............
    461,000
    £1,614,000
    REAGAN
    COMPANY
    Analysis of Buildings
    Account
    for 2015
    Balance at January 1, 2015
    ...........................
    £ 890,000
    Cost of new building
    constructed

    on land site number 622

    Construction costs
    ...............................
    £330,000
    Excavation fees
    .....................................
    38,000
    Architectural design
    fees .....................
    11,000
    Building permit fee
    ...............................
    2,500
    381,500
    Balance at December 31,
    2015 ......................
    £1,271,500
    REAGAN COMPANY
    Analysis of Land Account
    for 2015
    Balance at January 1, 2015
    .................
    £ 230,000

    Land site number 621


    Acquisition cost
    ...................................
    £850,000
    Commission to real estate
    agent ........
    51,000
    Clearing costs
    ......................................
    £35,000
    Less: Amounts recovered
    ..................
    13,000
    22,000
    Total land site
    number 621 ......
    923,000

    Land site number 622


    Land value
    ............................................
    300,000
    Building value
    .......................................
    120,000
    Demolition cost
    ....................................
    41,000
    Total land site
    number 622 ......
    Balance at December 31,
    2015 ............
    461,000
    £1,614,000
    REAGAN
    COMPANY
    Analysis of Buildings
    Account
    for 2015
    Balance at January 1, 2015
    ...........................
    £ 890,000
    Cost of new building
    constructed
    on land site number 622

    Construction costs
    ...............................
    £330,000
    Excavation fees
    .....................................
    38,000
    Architectural design
    fees .....................
    11,000
    Building permit fee
    ...............................
    2,500
    381,500
    Balance at December 31,
    2015 ......................
    £1,271,500
    REAGAN COMPANY
    Analysis of Land Account
    for 2015
    Balance at January 1, 2015
    .................
    £ 230,000

    Land site number 621


    Acquisition cost
    ...................................
    £850,000
    Commission to real estate
    agent ........
    51,000
    Clearing costs
    ......................................
    £35,000
    Less: Amounts recovered
    ..................
    13,000
    22,000
    Total land site
    number 621 ......
    923,000
    Land site number 622
    Land value
    ............................................
    300,000
    Building value
    .......................................
    120,000
    Demolition cost
    ....................................
    41,000
    Total land site
    number 622 ......
    Balance at December 31,
    2015 ............
    461,000
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