12 QUESTION 3A house sold for $495,000 (Price after all adusments), your analysis determined that the land value wan $105,000 and that the improvementsto the site were worth $15,000. What is the depreciated value of the building?Sale 1Address143 Golden road Dr.Net sale price (After adjustments)495,000Estimated land value105,000Site improvements value15,000O$390,000OS615,000OThere is no enough informationO$495,000O$445,000OS375,000

Depreciated value of building will be the price of house after deduction for the land value and site…

Answered: A houne sold for $495,000 (Price aftor…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter8: Operating Assets: Property, Plant, And Equipment, And Intangibles

Section: Chapter Questions

Problem 8.6E

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(Dispositions, Including Condemnation, Demolition, and Trade- In) Presented below is a schedule of property dispositions for Hollerith Co. Schedule of Property Dispositions 0Cost0 Accumulated Depreciation Cash Proceeds Fair 0Value0 Nature of 00Disposition00 Land $40,000 — $31,000 $31,000 Condemnation Building 15,000 — 3,600 — Demolition Warehouse 70,000 $16,00000 74,000 74,000 Destruction by fire Machine 8,000 2,80000 900 7,200 Trade-in Furniture 10,000 7,85000 — 3,100 Contribution Automobile 9,000 3,46000 2,960 2,960 Sale The following additional information is available. Land: On February 15, a condemnation award was received as consideration for unimproved land held primarily as an investment, and on March 31,…

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