Question
Crane Company acquires land for $340000 cash. Additional costs are as follow. Removal of shed $2000 Filling and grading 6500 Salvage value of lumber of
Crane Company acquires land for $340000 cash. Additional costs are as follow.
Removal of shed
$2000
Filling and grading
6500
Salvage value of lumber of shed
1260
Broker commission
4550
Paving of parking lot
45000
Closing costs
5500
Crane will record the acquisition cost of the land as
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Principles Of Financial Accounting
Authors: Jerry J. Weygandt, Michael J. Atkins, Donald E. Kieso, Paul D. Kimmel, Valerie Ann Kinnear, Barbara Trenholm, Joan E. Barlow
1st Canadian Edition
1118757149, 978-1118757147
