QUESTION 4 Jones Company purchases a piece of land for $300.000, Jones Company paid $3,000 in brokerage commissions, $10.000 to lear and remove an unwanted building, $5,000 for building ermits to construct a new building, $500,000 to construct a new building, and $5,000 in delinquent property taxes What is the amount to be capitalized (debited) to the Land ccount from this purchase? ANSWER 8300,000 SUL000 SH21000 $30,000 IDON'T KNOW YET

QUESTION 4 Jones Company purchases a piece of land for $300.000, Jones Company paid $3,000 in brokerage commissions, $10.000 to lear and remove an unwanted building, $5,000 for building ermits to construct a new building, $500,000 to construct a new building, and $5,000 in delinquent property taxes What is the amount to be capitalized (debited) to the Land ccount from this purchase? ANSWER 8300,000 SUL000 SH21000 $30,000 IDON'T KNOW YET

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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