Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bonita Industries purchased land as a factory site for $1355000. Bonita paid $112000 to tear down two bulidings on the land, Salvage was sold for

image text in transcribed
Bonita Industries purchased land as a factory site for $1355000. Bonita paid $112000 to tear down two bulidings on the land, Salvage was sold for $8500. Legal fees of $5160 were paid for title investigation and inaking the purchase. Architect's fees were $46100. Tite insurance cost $3900, and liability insurance during construction cost $4200. Excavation cost $15740. The contractor, was paid $4300000. An assessment made by the city for pavement was $9600. Interest costs doring construction were $251000. The cost of the land that should be recorded by Barita tndustricis is $1467560. $1477160. $1481760. $1491360

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Food And Beverage Cost Control

Authors: Jack E. Miller, Lea R. Dopson, David K. Hayes

3rd Edition

0471273546, 978-0471273547

Students also viewed these Accounting questions

Question

Define and discuss the nature of communication

Answered: 1 week ago

Question

Define and discuss the nature of culture

Answered: 1 week ago