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On November 15th Gamer Company purchased a property with distinct assets and metal building and a parking lo. Amough Gamer was able to negotiate a
On November 15th Gamer Company purchased a property with distinct assets and metal building and a parking lo. Amough Gamer was able to negotiate a better prion, the seller was able to provide the following individual and Values Appraised Value: Land $64,500 Metal Building 129,000 Parking Lot 21,500 $215,000 Additionally, a property had previously housed a landscaping company and accordingly contained a greenhouse. The greenhouse is of no use to Games a software company such Game plans to demolish it. Gamer plans to build a new office building but will keep the exsting metal building for storage and the existing parking lot for overflow. At the Now 15th closing Game paid $20.000 the final combined purchase price Cash paid at November 15 closing Negotiated purchase price for all assets $185,000 Real estate commission related to entire purchase 15,000 Legal fees related to entire purchase 3.000 $203,000 Gamer's construction team got right to work incurring the following code Cash paid within 30 days after closing Expenses to remove old greenhouse $4,000 Salvage & resale of materials from greenhouse (1,500) Expenses of clearing trees from the land 6,500 Metal Building repair 3,200 Total $12,200 Cash paid within 31-120 days after closing Cost to build new building Cost to resurface existing parking lot $325,000 6,200 Total $331,200 The repair of 53.200 was the out-of-pocket continued by Gamer Company to Sox damage caused when an employee sccidentally backed a company vehicle into the north comer of the metal building Consider the above information and determine the value Gamer will report as Land on the company's balance sheet O A $78,700 $73,900 OG $76,100 OD 09.900 OE None of the answer choices provided are correct On November 15th Gamer Company purchased a property with distinct assets and metal building and a parking lo. Amough Gamer was able to negotiate a better prion, the seller was able to provide the following individual and Values Appraised Value: Land $64,500 Metal Building 129,000 Parking Lot 21,500 $215,000 Additionally, a property had previously housed a landscaping company and accordingly contained a greenhouse. The greenhouse is of no use to Games a software company such Game plans to demolish it. Gamer plans to build a new office building but will keep the exsting metal building for storage and the existing parking lot for overflow. At the Now 15th closing Game paid $20.000 the final combined purchase price Cash paid at November 15 closing Negotiated purchase price for all assets $185,000 Real estate commission related to entire purchase 15,000 Legal fees related to entire purchase 3.000 $203,000 Gamer's construction team got right to work incurring the following code Cash paid within 30 days after closing Expenses to remove old greenhouse $4,000 Salvage & resale of materials from greenhouse (1,500) Expenses of clearing trees from the land 6,500 Metal Building repair 3,200 Total $12,200 Cash paid within 31-120 days after closing Cost to build new building Cost to resurface existing parking lot $325,000 6,200 Total $331,200 The repair of 53.200 was the out-of-pocket continued by Gamer Company to Sox damage caused when an employee sccidentally backed a company vehicle into the north comer of the metal building Consider the above information and determine the value Gamer will report as Land on the company's balance sheet O A $78,700 $73,900 OG $76,100 OD 09.900 OE None of the answer choices provided are correct
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