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

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These expenditures were incurred by Sanler Company in purchasing land: cash price $60,000; accrued taxes $5,000; attorney’s fees $2,100; real estate broker’s commission $2,800; and clearing and grading $3,500. What is the cost of the land?

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Financial Accounting Tools for Business Decision Making

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

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Question Posted: Apr 21, 2012 03:16 AM

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

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