On February 1, 2020, Waterway Industries purchased a parcel of land as a factory site for $310000. An old building on the property was demolished, and construction began on a new building which was completed on November 1, 2020. Costs incurred during this period are listed below:
Demolition of old building $ 20700
Architect's fees 34700
Legal fees for title investigation and purchase contract 4500
Construction costs 1378000
(Salvaged materials resulting from demolition were sold for $8600.)
Required:
a) Waterway should record the cost of the land and new building, respectively, as .

Waterway should record the cost of the land as $322,100 and new building as $1,412,700

Explanation:

In order to calculate the cost of the land we would have to make the following calculation:

cost of the land= purchased of land+Demolition of old building+Legal fees-Salvaged materials sold

cost of the land=$310,000+$ 20,700+4,500-$8,600

cost of the land=$322,100

In order to calculate the cost of the new building we would have to make the following calculation:

cost of the new building=Architect's fees+Construction costs

cost of the new building=$34,700+$1,378,000

cost of the new building=$1,412,700

our agriculture industry and our business industry

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.