Business, 15.04.2020 03:50, purplefive85

A company purchased land for $350, 000 cash. Real estate brokers commission was $25,000 and $35,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the historical cost principle the cost of land would be recorded at:.
a. $385,000
b. $350,000
c. $375,000
d. $410,000

Answers: 2

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A company purchased land for $350, 000 cash. Real estate brokers commission was $25,000 and $35,000...