1. These expenditures were incurred by Dobbin Company in purchasing land: cash price $70,000, assumed accrued taxes $2,800, attomey's fees $1,800, real estate broker's commission $2,000, and clearing and grading $1,200. What is the cost of the land? 2. Thoms Company incurs these expenditures in purchasing a truck: cash price $30,000, accident insurance (during use) $1,200, sales taxes $3,000, motor vehicle license $400, and painting and lettering $2,100. What is the cost of the truck? 3. is a cost allocation process, NOT a valuation process. 4. Depreciation applies to three classes of plant assets including: a. b. c. 5. Cost of a plant asset minus accumulated depreciation equals