Requirements 1. Columns for Land, Land Improvements, Building, and Furniture have been set up. Show how to account for each cost by listing the cost under the correct account. Determine the total cost of each asset.
2. All construction was complete and the assets were placed in service orn August 1. Record partial-year depreciation for the year ended December 31 Round to the nearest dollar.

Suppose someone wants to sell a piece of land for cash. the selling of a piece of land represents turning

During 2016, nike inc., reported net income of $3,760 million. the company declared dividends of $1,022 million. the closing entry for dividends would include which of the following? select one: a. credit cash for $1,022 million b. credit dividends for $1,022 million c. debit net income for $1,022 million d. credit retained earnings for $1,022 million e. debit dividends for $1,022 million

Jaynet spends $50,000 per year on painting supplies and storage space. she recently received two job offers from a famous marketing firm – one offer was for $95,000 per year, and the other was for $120,000. however, she turned both jobs down to continue a painting career. if jaynet sells 35 paintings per year at a price of $6,000 each: a. what are her accounting profits? b. what are her economic profits?