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The Building and Land payments are to the same company

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Question

Office Space (acct # 15500) - $ 70,000 (10 years tax life);Land (acct #16900) - $ 30,000 (10 years tax life);The Building and Land payments are to the same company. A total of $12,000 was due at signing. The remaining is put on a note payable to Star Financial Bank (Edit Acct 27100). The note is to be repaid monthly and has an 8% compounding interest rate. Each monthly payment is $840.98.They can be paid in one lump sum. They were listed separately for your convenience. This is a 15 year note.;Land doesn't show depreciation.

 

Paper#24926 | Written in 18-Jul-2015

Price : $27
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