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Falcon Waste Management purchased land and a warehouse for $ 6 1 0 , 0 0 0 . In addition to the purchase price, Falcon
Falcon Waste Management purchased land and a warehouse for $ In addition to the purchase price, Falcon made the following expenditures related to the acquisition: broker's commission, $; title insurance, $; miscellaneous closing costs, $ Assume that Falcon decides to use the warehouse rather than demolish it An independent appraisal estimates the fair value of the land and warehouse at $ and $ respectively. Determine the amounts Falcon should capitalize as the cost of the land and the building. tableCapitalized cost of landCapitalized cost of building
Falcon Waste Management purchased land and a warehouse for $ In addition to the purchase price, Falcon made the following expenditures related to the acquisition: broker's commission, $; title insurance, $; miscellaneous closing costs, $ Assume that Falcon decides to use the warehouse rather than demolish it An independent appraisal estimates the fair value of the land and warehouse at $ and $ respectively.
Determine the amounts Falcon should capitalize as the cost of the land and the building.
tableCapitalized cost of landCapitalized cost of building
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