Solution-At what amount the cost of land would be recorded

At what amount the cost of land would be recorded

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A company purchased land for $72,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start. Proceeds from salvage of the demolished building were $1,200. Under the cost principle, the cost of land would be recorded at what amount? OMIT all dollar signs, commas and decimals. Round to the nearest whole dollar. List numbers only, no letters.

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At what amount the cost of land would be recorded : A company purchased land for $72,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start. the cost of land would be recorded at what amo..

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At what amount the cost of land would be recorded

Reference no: EM13944755

Reference no: EM13944755

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