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answer the question below Question 2 Goldmine purchased a piece of land and a building for RM20 million. Apart from the purchase price. Goldmine has

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answer the question below

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Question 2 Goldmine purchased a piece of land and a building for RM20 million. Apart from the purchase price. Goldmine has incurred the following expenditures in relation to the purchase of land and building: RM Legal fees to draft the contract 6000 Title insurance 12000 Property taxes for the period after the acquisition (pro-rated) 25000 Municipal council transfer fees 7000 Required: a) Determine the initial measurement of land and building. b) As above, assume that soon after acquisition, Goldmine demolished the building at the cost of RM42000 and the scrapped materials were sold for RM8000 cash. Other cost incurred was for clearing and restoring the land in preparation for the construction of new building at RM 73000. Determine the initial measurement of land and building

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