These expenditures were incurred by Patnode Company in purchasing land: cash price $60,000; accrued taxes $5,000; attorneys

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These expenditures were incurred by Patnode Company in purchasing land: cash price $60,000; accrued taxes $5,000; attorney’s fees $2,100; real estate broker’s commission $3,300; and clearing and grading $3,500. What is the cost of the land?

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Financial Accounting Tools for business decision making

ISBN: 978-0470534779

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Sep 22, 2011 11:20 AM

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These expenditures were incurred by Patnode Company in purchasing land: cash price $60,000; accrued taxes $5,000; attorneys

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