Oriole Company acquires land for $86300 cash. Additional costs are as follows: Removal of shed Filling and grading Salvage value of lumber of shed Broker commission Paving of parking lot Closing costs $290 O $97800. O $87980. O $89640. O $89900. 1500 130 1130 11500 550 Oriole will record the acquisition cost of the land as
Oriole Company acquires land for $86300 cash. Additional costs are as follows: Removal of shed Filling and grading Salvage value of lumber of shed Broker commission Paving of parking lot Closing costs $290 O $97800. O $87980. O $89640. O $89900. 1500 130 1130 11500 550 Oriole will record the acquisition cost of the land as
Financial Reporting, Financial Statement Analysis and Valuation
8th Edition
ISBN:9781285190907
Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Chapter2: Asset And Liability Valuation And Income Recognition
Section: Chapter Questions
Problem 11PC: Costs to Be Included in Historical Cost Valuation. At a cost of 200,000, Assume In-N-Out Burger...
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![Oriole Company acquires land for $86300 cash. Additional costs are as follows:
Removal of shed
Filling and grading
Salvage value of lumber of shed
Broker commission
Paving of parking lot
Closing costs
$290
O $97800.
O $87980.
$89640.
O $89900.
1500
130
1130
11500
550
Oriole will record the acquisition cost of the land as](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7f5562d6-49ce-4c9c-a9b7-824e476f5d05%2F701c79fd-73ae-4554-82ae-d2b620d0f00c%2Fxv0arfh_processed.png&w=3840&q=75)
Transcribed Image Text:Oriole Company acquires land for $86300 cash. Additional costs are as follows:
Removal of shed
Filling and grading
Salvage value of lumber of shed
Broker commission
Paving of parking lot
Closing costs
$290
O $97800.
O $87980.
$89640.
O $89900.
1500
130
1130
11500
550
Oriole will record the acquisition cost of the land as
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