Furniture purchased land, paying

$75,000

cash and signing a

$250,000

note payable. In addition,

Pierce

paid delinquent property tax of

$4,000,

title insurance costing

$2,000,

and

$5,000

to level the land and remove an unwanted building. The company then constructed an office building at a cost of

$700,000.

It also paid

$53,000

for a fence around the property,

$18,000

for a sign near the entrance, and

$8,000

for special lighting of the grounds. Read the requirements

LOADING...

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Requirement 1. Determine the cost of the land, land improvements, and building.

The cost of the land is

443000