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HannahVance99
13.03.2021 •
Business
A company purchased a 3-acre tract of land for a building site for $440,000. The company demolished the old building at a cost of $21,000, but was able to sell scrap from the building for $2,400. The cost of title transfer was $1,350 and attorney fees for reviewing the contract was $680. Property taxes paid were $7,500, of which $700 covered the period after the purchase date. The capitalized cost of the land is:
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Ответ:
$467,430
Explanation:
Calculation for The capitalized cost of the land is:
Purchase price $440,000
Demolition costs $21,000
Scrap sold ($2,400)
Title insurance $1,350
Legal fees $680
Property taxes ($7,500 – $700) $6,800
Total cost of land $467,430
Therefore The capitalized cost of the land is:$467,430
Ответ: