Question
1) These expenditures were incurred by Dunston Company in purchasing land: cash price $56,580; accrued taxes $5,320; attorneys fees $3,010; real estate brokers commission $3,560;
1) These expenditures were incurred by Dunston Company in purchasing land: cash price $56,580; accrued taxes $5,320; attorneys fees $3,010; real estate brokers commission $3,560; and clearing and grading $4,630. What is the cost of the land?
2) Tolbert Company incurs these expenditures in purchasing a truck: cash price $21,600; accident insurance (during use) $2,090; sales taxes $1,900; motor vehicle license $327; and painting and lettering $2,610. What is the cost of the truck?
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Auditing Principles
Authors: Nformi Eugene Tawe
1st Edition
3330651032, 978-3330651036
