The following expenditures were incurred by Shumway Hotel in purchasing land: cash price $50,000, accrued taxes $3,000,

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The following expenditures were incurred by Shumway Hotel in purchasing land: cash price $50,000, accrued taxes $3,000, attorneys’ fees $2,500, real estate broker’s commission

$2,000, and clearing and grading $3,500. What is the cost of the land?

LO9

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Hospitality Financial Accounting

ISBN: 9780471270553

1st Edition

Authors: Jerry J Weygandt, Donald E Kieso, Paul D Kimmel, Agnes L DeFranco

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Question Posted: Jul 08, 2024 03:00 AM

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The following expenditures were incurred by Shumway Hotel in purchasing land: cash price $50,000, accrued taxes $3,000,

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Hospitality Financial Accounting

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