The following expenditures were incurred by Gene Shumway Company in purchasing land. Cash price ($ 50,000), accrued
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The following expenditures were incurred by Gene Shumway Company in purchasing land. Cash price \(\$ 50,000\), accrued taxes \(\$ 3,000\), attorneys' fees \(\$ 2,500\), real estate broker's commission, \(\$ 2,000\), and clearing and grading \(\$ 3,500\). What is the cost of the land?
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Related Book For
Financial Accounting
ISBN: 9780471169208
2nd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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