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please assist ill like if correct Determining Cost of Land On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $40,000 in
please assist ill like if correct Determining Cost of Land On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $40,000 in cash and giving a short-term note for $245,000. Legai fees paid were $1,545, delinquent taxes assumed were $10,100, and fees paid to remove an old building from the land were $17,600, Materials salvaged from the demolition of th bullding were sold for $4,300. A contractor was paid $866,400 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet
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