Cost of a Tangible Capital Asset Borges Ltd. recently purchased land to use for the construction of
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Cost of a Tangible Capital Asset Borges Ltd. recently purchased land to use for the construction of its new manufacturing facility and incurred the following costs: purchase price, $85,000; real estate commissions, $5,100; delin- quent property taxes, $1,500; closing costs, $3,500; clearing and grading of the land, $8,100. Required: Determine the cost of the land.
Cornerstone Exercise
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Related Book For 
Cornerstones Of Financial Accounting
ISBN: 9780176707125
2nd Canadian Edition
Authors: Jay Rich, Jefferson Jones, Maryanne Mowen, Don Hansen, Donald Jones, Ralph Tassone
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