Business
Business, 26.07.2019 02:20, teamo794

On march 1, 2019, wildhorse co. acquired real estate on which it planned to construct a small office building. the company paid $84,000 in cash. an old warehouse on the property was razed at a cost of $8,800; the salvaged materials were sold for $1,600. additional expenditures before construction began included $1,600 attorney’s fee for work concerning the land purchase, $4,400 real estate broker’s fee, $8,000 architect’s fee, and $13,400 to put in driveways and a parking lot. (a) determine the amount to be reported as the cost of the land.

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