Five years ago, repairs were made to the building which cost $80,000. the building has a current market value of $424,000 and a current book value of $399,000. the building is completely paid for and solely owned by the firm. if the company decides to assign this building to a new project, what value, if any, should be included in the initial cash flow of the project for this building?

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.