Question
Wildhorse Wholesale Motor Company purchases land for $170000 cash. Wildhorse assumes $4900 in property taxes due on the land. The title and attorney fees totaled
Wildhorse Wholesale Motor Company purchases land for $170000 cash. Wildhorse
assumes $4900 in property taxes due on the land. The title and attorney fees totaled
$1600. Wildhorse has the land graded for $4200. They paid $19000 for paving of a
parking lot. What amount does Wildhorse record as the cost for the land?
a.$180700.
b.$170000.
c.$175800.
d.$199700.
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Financial Accounting Practice And Principles
Authors: Jan Bebbington, M. Richard Laughlin, Robert H. Gray, Gray Dave
3rd Edition
1861527713, 978-1861527714
