Question
Consider the following facts: Company A acquires land for $96,000 cash. Additional costs are as follows: Removal of shed $ 300 Filling and grading 1,500
Consider the following facts: Company A acquires land for $96,000 cash. Additional costs are as follows: Removal of shed $ 300 Filling and grading 1,500 Salvage value of lumber of shed 120 Broker commission 1,130 Paving of parking lot 10,000 Closing costs 560 Hull will record the acquisition cost of the land as
a. $99,610
b. $86,000
c. $97,690
d. None of these answers are correct.
e. $99,370
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Financial Accounting Reporting And Analysis
Authors: Michael Diamond, James Stice, Earl K. Stice, James D. Stice
5th Edition
0538873019, 978-0538873017
