Indicate for each transaction below the account(s) and amount(s)
that should be debited and credited. Use abbreviated account
titles.
| Item | Accounts | Amounts |
| (a) Jan. 1, 2001 purchased land with a usable office building thereon for cash of $200,000. Tax assessment values: Land $20,000; building $60,000 | ||
| (b) Jan. 1, 2001 purchased land for future building site for a cash cost of $40,000; an old building on this site, appraised at $2,000 at the date of purchase, is to be torn down immediately. | ||
| (c) Net cash cost of demolishing the old building in (b) above amounted to $2,000. | ||
| (d) Cash cost of excavation for basement of the new building (b above) was $6,000. | ||
| (e) Lawyers' fees paid in connection with purchase of real estate in (b) $900. | ||
| (f) Taxes paid on land purchased in (b) assessed before completion of building, $300. | ||
| (g) Factory superintendent's salary for 2001 was $24,000. During 2001, the superintendent spent the first six months supervising construction of the new building; the next three months supervising installation of productive machinery in the new building, and the last three months supervising operations in the new building. | ||
| (h) Cost of grading and paying parking space and walks behind new building, $9,500. |
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Rock construction has current assets of 45 million, total liabilities and equity of 67 million, and sales of 59 million. How would current assets be expressed on a common size balance sheet?
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Detroit Fishing obtained a $40,000 loan for the construction of a trawler, The loan contract requires seven equal annual payments including interest at 11.830625% compounded annually. Construct the full amortization schedule for the loan.
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What is the t distribution and why is it needed? How do we know to use the t distribution in the construction of a confidence interval of the mean rather than the normal distribution? Give an example. Ask a question
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5- Research about the Internal Revenue Service (IRS) Accounting for Construction Contracts and explain how IRS determines the accounting method that can be used in a project. Discuss concepts such as a Small or Large Contractor.
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1. How is BOQ (Bill of Quantities) related to change order payment in construction projects?
2. Explain if owner has direct relationship with the subcontractors. What happens if the owner interferes into the work of the subcontractors.
In: Civil Engineering
Success stories of the adoption in the construction
industry
The explanation should be on based on the following
innovation:
a) Building Information Modelling (BIM)
b) 3D Printing
c) Robotics
d) Augmented reality
e) Drone
In: Civil Engineering
Work stress is identified as one of the key factors that negatively affects the performance of construction workers. In your opinion, what are the three main causes of work stress and how would you manage them?
In: Civil Engineering
In: Civil Engineering
Please refer on the article titled as “Improving Occupational Safety and Health in Construction”, published in The Ingenieur, Vol. 69 January – March 2017 by the Board of Engineers Malaysia. simplify and create a summary of the article. (150words)
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