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plz help mylau Accounting Group A E7-22A. (Learning Objective 1: Measure the cost of plant assets) Murphy Self Storage purchased land, paying $160,000 cash as a down payment and signing a $185.000 note payable for the balance. Murphy also had to pay delinquent property tax of $2,000, title insurance costing $6,000, and $11,000 to level the land and remove an unwanted building. The company paid 558,000 to add soil for the foundation and then constructed an office building at a cost of $700,000 It also paid $52,000 for a fence around the property, S11,000 for the company sign near the property entrance, and $3,000 for lighting of the grounds. What is the capitalized cost of cach of Murphy's land, land improvements, and building? E7-23A. (Learning Objectives 1. 4: Allocate costs to assets acquired in a lump-sum purchase; dispose of a plant asset) Sugar Ridge Manufacturing bought three used machines in a $167.000 lump-sum purchase. An independent appraiser valued the machines as shown: LO 1,4 Machine No. Appraised Value $ 38,250 73.100 58.650 LO 2 What is each machine's individual cost? Immediately after making this purchase, Sugar Ridge sold Machine No. 3 for its appraised value. What is the result of the sale? (Round decimals to three places when calculating proportions and use your computed percentages in all calculations E7-24A. (Learning Objective 2: Distinguish capital expenditures from expenses) Assume Kare Products, Inc. purchased conveyor belt machinery Classily each of the following expen- ditures as a capital expenditure or an immediate expense related to machinery: a. Periodic lubrication after the machinery is placed in service h. Special reinforcement to the machinery platfom c. Major overhaul to extend the machinery usetul life by five years d. Training of personnel for initial operation of the machinery e. Purchase price 1. Income tax paid on income carned from the sale of products manufactured by the Ordinary repairs to keep the machine in good working onder I. Translation and while machi nist fruseller to user i Salins cas pad in die purchase pnce W Gateway
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