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Calculate the amount to be included in Land account

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Reference no: EM132770033

Problem - Long-tom huts Exacta Corporation purchased a plot of land to improve access for expansion of its existing facilities. Expenditures incurred by the company relating to this were as follows: Price paid for the land, $40,000; Broker's fees, $7,000; Legal and other fees, $6,000; Demolition of an old building on the property, $3,700; Grading, $1,200; Laying and paving driveway, $25,000; Lighting and putting signs, $9,000.

Required - Show your working for each of the following: Calculate the amount to be included in Land account.

Reference no: EM132770033

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