A company incurred the following costs: Purchase price of land $290,000 Survey fees 7,000 Payment for demolition of old building on land 20,000 Back property taxes on land 3,000 Paving costs for parking lot 40,000 Fence around perimeter of land 15,000 Lights in parking lot 90,000 Signs for new business 5,000 What is the cost of the land? OA. $317,000 OB. $320,000 C. $290,000 D. $360,000

A company incurred the following costs: Purchase price of land $290,000 Survey fees 7,000 Payment for demolition of old building on land 20,000 Back property taxes on land 3,000 Paving costs for parking lot 40,000 Fence around perimeter of land 15,000 Lights in parking lot 90,000 Signs for new business 5,000 What is the cost of the land? OA. $317,000 OB. $320,000 C. $290,000 D. $360,000

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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