MGMT 20000 Lecture Notes - Lecture 20: Embryophyte, Historical Cost

• School: Purdue University
• Department: Management
• Course: MGMT 20000
• Professor: Frank Kane

Document Summary

Cost of removing an existing building less any salvage proceeds. Administrative offices, retail stores, manufacturing facilities, and storage warehouses. Costs of getting a building ready for use include items such as. Machinery used in manufacturing, computers and other office equipment, vehicles, furniture, and fixtures. Recurring costs such as maintenance are expensed as incurred. Purchase of more than one asset at the same time for one purchase price. Allocate the total purchase price based on the relative fair values of the individual assets iclicker questions. The cost principle requires that businesses record long-term assets at. Golden gate, inc. purchases land with a building on it and immediately tears down the building so that the land can be used for the construction of a new plant facility. The costs incurred to tear down the building should be. Costs related to land that have a limited life are classified as. Marlin packing corporation purchases a tract of land to construct a new building.