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Hello! Below is my question. I have attached a s...

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Hello! Below is my question. I have attached a spreadsheet with the details. Gegax Manufacturing inccurred the following costs in acquiring land, making land improvements, and furnishing a new building. a.purchase price of four acres of land-$200,000 b.Additional dirt and earthmoving-$8,100 c.Fence around the boundary of the property-$17,600 d.Attorney fee for title search on the land-$1,000 e.Unpaid property taxes on the land to be paid by Gegax-$5,900 f.Company signs at the front of the property-$4,400 g.Building permit for the building-500 h.Architect's fee for the design of the building-$22,500 i.Labor to construct the building-$709,000 j.Materials used to construct the building-$224,000 k.Landscaping-$6,400 l.parking lot and concrete walks-$29,700 m.Lights for the parking lot and walksways-$10,300 n.Salary of construction supervisor(85% to building;15% to parking lot and concrete walks)-$40,000 o.Furniture for the building-$107,100 p.Transportation and installation of furniture-$2,100 Gegax depreciates buildings over 40years, land improvements over 20years, and furniture over 8years, all on a straight-line basis with zero residual value. Requirements: All construction was complete and assets were placed in service on May 1. Record partial-year depreciation for the year ended December 31. Round to the nearest dollar.,Okay thanks...,Sorry but is this answer in tune with the spreadsheet I attached? There were (4) journal entries that needed to be made on the spreadsheet. I don't see a copy of my attachment on your answer. Help! Thanks,When I view your attached spreadsheet, the first journal entry is not completed. I have filled in amounts for the debits, but the credits are not completed. The next three journal only show entries on the credit side, nothing shows up on the debit sides. Am I missing something?

 

Paper#4662 | Written in 18-Jul-2015

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