Determine the amount to be reported as the cost of the land

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Reference no: EM13793785

On March 1, 2014, Rollinger Company acquired real estate on which it planned to construct a small office building. The company paid $78,950 in cash. An old warehouse on the property was razed at a cost of $9,190; the salvaged materials were sold for $1,660. Additional expenditures before construction began included $1,250 attorney’s fee for work concerning the land purchase, $4,200 real estate broker’s fee, $7,560 architect’s fee, and $14,690 to put in driveways and a parking lot.

Determine the amount to be reported as the cost of the land.

Cost of land $

Reference no: EM13793785

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Determine the amount to be reported as the cost of the land : On March 1, 2014, Rollinger Company acquired real estate on which it planned to construct a small office building. The company paid $78,950 in cash. An old warehouse on the property was razed at a cost of $9,190; the salvaged materials were sold for ..

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