A company purchases a piece of land with an old building for $150,000 it also paid $120,500 in real...

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A company purchases a piece of land with an old building for $150,000 it also paid $120,500 in real states commissions, $1,800 in legal fees, $3,000 in title search and title insurance. In addition, the company also paid $2,800 to clear the land and another $5,000 to tear down the old building. Some of the contents of the old building were sold from $1,400.
The total Amount that should be recorder in the land account is:
a)$150,000
b)167,300
c)175,100
d)173,700

David · Accepted Answer

A company purchases a piece of land with an old building for $150,000 it also paid $120,500 in real states commissions, $1,800 in legal fees, $3,000 in title search and title insurance. In addition, the company also paid $2,800 to clear the land and another $5,000 to tear down the old building. Some of the contents of the old building were sold from $1,400.
The total Amount that should be recorder in the land account is:
a)$150,000
b)167,300
c)175,100
d)173,700

A company purchases a piece of land with an old building for $150,000 it also paid $120,500 in real states commissions, $1,800 in legal fees, $3,000 in title search and title insurance. In addition,...

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