Question
masey Corporation purchased a piece of land for $50,000. Masey pay attorney fees of $5,000 and broker's commission of $4,000 in connection with the purchase.
masey Corporation purchased a piece of land for $50,000. Masey pay attorney fees of $5,000 and broker's commission of $4,000 in connection with the purchase. An old building on the land was torn down at a cost of $2000, and proceeds from the scrap were $500. how much is the total cost of the land?
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Advanced Financial Accounting
Authors: Richard E. Baker, Valdean C. Lembke, Thomas E. King
5th Edition
0072444126, 978-0072444124
