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I can't get this correct. please disregard the pencil on my paper. Wilson Co. purchased land as a factory site for $1,350,000. Wilson paid $120,000
I can't get this correct. please disregard the pencil on my paper.
Wilson Co. purchased land as a factory site for $1,350,000. Wilson paid $120,000 to tear down two buildings on the land. Salvage was sold for $8,100. Legal fees of $5,220 were paid for the title investigation and making the purchase. The architect's fees were $46,800. Title insurance cost $3,600, and liability insurance during construction cost $3,900. Excavation cost $15,660. The contractor was paid $4,200,000. An assessment made by the city for pavement was $9,600. Interest costs during construction were $255,000 ? The cost of the land that should be recorded by Wilson Co. is a. $1,470,720. b. $1,480,320. c. $1,484,820. d. $1,494,420 Step by Step Solution
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