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please help thank you! Murphy Furniture purchased Land, paying $75,000 cash and signing a $340,000 nole payable In addilon, Murphy paid delinquent property tax of
please help thank you!
Murphy Furniture purchased Land, paying $75,000 cash and signing a $340,000 nole payable In addilon, Murphy paid delinquent property tax of $2, 500 , tite insurance cosing $4,500, and $4,000 to lavel the land and remove an umwanted building. The company then construcled an office buiding at a cost of $550,060, It abso pald $52,000 for a fence around the property, $10,000 for a sign near the entrance, and $5,000 for special Eghting of the grounds Resd the requirements Requirement 1. Doternine the cost of the land, land improvernents, and builing The cost of the land is 1. Determine the cost of the land, land improvements, and building. 2. Which of these assets will Murphy depreciate Step by Step Solution
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