Name tplease print 1. Oregon Wood Sopely purc hased a drilling machine s4,300, t

Question

Name tplease print 1. Oregon Wood Sopely purc hased a drilling machine s4,300, testing, $3,500 personal peoperty tas on the What is the initial cost of the machin B 553,000 C. 557,500 D. $61,000 E 562,250 development costs totaled 56.6 million. After the gold is extracted in approximabely five years, Josephson is obligated to restore the land to its original condition, including constructing a wildlife preserve. The company's comtroller has provided the following three cash now possibilities for the restoration costs: (1 ) Stooooo. 35% probability: (2) St:30,000. 50% probability; and (3) $750,000. I 5% probability. The company's creditadyusaddle free rate of interest is 6% (PV factor-0.74726). what is the initial cost of the geld mind? A. $6,600,000 B. $483,851 C. $7,083,851 D. $6,126,149 E. None of the above. The Tinsley Company exchanged land that it had been holding for future plant expansion for a more suitable parcel located farther from residential areas. Tinsley carried the land at its original cost of $70,000. According to an independent appraisal, the land current is worth 3. $168,000. Tinsley paid $24,000 in cash to complete the transaction. At what value should Tinsley record the new parcel of land? (The exchange has commercial substance). A. $192,000 B. $70,000 C. $168,000 D. $94,000 E. None of the above.

Explanation / Answer

1)

Note:- As there are multiple questions I have answered first one as per guidelines.

The initial cost of the machine is D.$61,000. Particulars Amount$ Purchase price $       50,000 Freight $          3,000 Installation $          4,500 Testing $          3,500 Total initial cost of machine $       61,000 The $1250 property tax is a recurring cost benefits the company in the current year.It should not be part of the initial cost instead it should be expensed in the first year.

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