Solution-Compute the amount to be reported as the cost of

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

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Question - On March 1, 2022, Carla Vista Co. acquired real estate, on which it planned to construct a small office building, by paying $84,500 in cash. An old warehouse on the property was demolished at a cost of $9,100; the salvaged materials were sold for $1,880. Additional expenditures before construction began included $1,380 attorney's fee for work concerning the land purchase, $4,950 real estate broker's fee, $8,880 architect's fee, and $14,900 to put in driveways and a parking lot. Compute the amount to be reported as the cost of the land.

Reference no: EM132486169

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

Reference no: EM132486169

Reference no: EM132486169

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