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Multiple Choice Question 60 Pharoah Company acquires land for $92000 cash. Additional costs are as follows. Removal of shed $400 Filling and grading 1800 Salvage

Multiple Choice Question 60
Pharoah Company acquires land for $92000 cash. Additional costs are as follows.

Removal of shed

$400

Filling and grading

1800

Salvage value of lumber of shed

110

Broker commission

1170

Paving of parking lot

8000

Closing costs

420

Pharoah will record the acquisition cost of the land as

$93590.

$95900.

$95680.

$92000.

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