Question
During the current year, AGH Co. had the following transactions pertaining to its new office building. Purchase price for the land 5125,000 Legal fees for
During the current year, AGH Co. had the following transactions pertaining to its new office building.
Purchase price for the land 5125,000
Legal fees for contracts to purchase land $3,000
Architect fees $13.000
Derolition of the old building on site $11.000
Sale of scrap from old building $9.000
Construction of new building $693.000
What should be recorded on its books total cost of the land?
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Financial Accounting The Basics
Authors: Ilias Basioudis
1st Edition
1138605514, 9781138605510
