Maldive Company completes the construction of a building. The following separate items are the costs relevant to the purchase of the lot and construction of the building. Cash payments to contractor $150,000
Sales tax on construction materials used in addition to contractor payments 4,500
Cost of land (building site) 75,000
Gross cost to raze old building on land 30,000
Proceeds from old building salvage 7,500
Utility charges for electricity used in construction 3,000
Capitalized interest on construction 4,500
Determine the ending balance for the Land account and for the Building account.

Ending balance in the Land accountAnswer
Ending balance in the Building accountAnswer

The text states, “the committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market….” why would the committee raise the federal funds rate as the labor market improves?

Gather reliable information to brent make his decision. to gather this information, use newspapers, call insurance companies or look at their web sites, and review consumer magazines and web sites. also, look at the manufacturer web site or for information about gas mileage. list the sources you use and take notes.

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.