Question
morocco corp. purchased land as a factory site for$250,000. They paid $10,000 to tear down two buildings on the land, and the salvage from these
morocco corp. purchased land as a factory site for$250,000. They paid $10,000 to tear down two buildings on the land, and the salvage from these old buildings for $1,350. Legal fees of $870 were paid for title investigation and making the purchase. Architect's fees were $10,300. Title insurance cost $600, and liabilities during construction cost $650. Excavation costs were $2,610. A contractor was paid $600,00 to construct the new building . An assessment made by the pavement was $1,600. Interest costs during construction were $42,500. The cost of the land should be recouded at?
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