Solution-Compute the cost of the building recorded by xyzco

Compute the cost of the building recorded by xyzco

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Reference no: EM132736185

Question - XYZ Co. acquired a piece of land for a new factory paying $100,000. Al Ibrahim demolished the old building at a cost of $20,000, and sold scrapped material salvaged from the old building for $5,000. The architect's fees were $25,000, and the title insurance upon acquisition of the land was $1,000. The construction period interest was $8,000, and the contractor received $300,000 for the building. A pavement assessment made by the city cost Al Ibrahim & Co $2,000 at the purchase date. Compute the cost of the building recorded by XYZCo?

Reference no: EM132736185

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Compute the cost of the building recorded by xyzco

Reference no: EM132736185

Reference no: EM132736185

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