2) Thompson Glacier Limited purchased a tract of land and contracted with a commercial developer to build an office building. Thompson Glacier Limited also engaged other contractors for fencing, paving, lighting, and landscaping. Based on the following data, determine the cost of the land, the building, and the land improvements. · Purchased land for $100,000. · Paid $2,000 for seller's back property taxes. · Paid a builder $225,000 to design and build the office building. · Paid an excavation company $6,000 to grade and clear the land to make it suitable for building purposes. · Paid a landscaping company $6,500 for trees and shrubs. · Paid a lighting contractor $10,000 for outside lighting around the parking area and sidewalks. · Paid $15,000 to have the parking lot paved. Paid a fence builder $12,000 to construct a security fence around the property.

2) Thompson Glacier Limited purchased a tract of land and contracted with a commercial developer to build an office building. Thompson Glacier Limited also engaged other contractors for fencing, paving, lighting, and landscaping. Based on the following data, determine the cost of the land, the building, and the land improvements. · Purchased land for $100,000. · Paid $2,000 for seller's back property taxes. · Paid a builder $225,000 to design and build the office building. · Paid an excavation company $6,000 to grade and clear the land to make it suitable for building purposes. · Paid a landscaping company $6,500 for trees and shrubs. · Paid a lighting contractor $10,000 for outside lighting around the parking area and sidewalks. · Paid $15,000 to have the parking lot paved. Paid a fence builder $12,000 to construct a security fence around the property.

Name: 2) Thompson Glacier Limited purchased a tract of land and contracted
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Description: 2) Thompson Glacier Limited purchased a tract of land and contracted with a commercial developer to build anoffice building. Thompson Glacier Limited also engaged other contractors for fencing, paving, lighting, andlandscaping.Based on the following

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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