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B Example: 1 Juliana purchases She also pays 4% After the purchase and $2,000 for n

B Example: 1 Juliana purchases She also pays 4% After the purchase and $2,000 for n

FINANCIAL ACCOUNTING
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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what is the book value of the land

Example: 1 Juliana purchases one acre of land for $200,000 for her new business, a coffee shop. She also pays 4% in brokerage commission and $4,000 in transfer taxes. After the purchase is completed, she will pay $2,000 to clear the land, a $1,000 survey fee, and $2,000 for anew advertising sign.
Transcribed Image Text:Example: 1 Juliana purchases one acre of land for $200,000 for her new business, a coffee shop. She also pays 4% in brokerage commission and $4,000 in transfer taxes. After the purchase is completed, she will pay $2,000 to clear the land, a $1,000 survey fee, and $2,000 for anew advertising sign.
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