Sheridan Company acquires land for $71000 cash. Additional costs are as follows. Removal of shed $400 Filling and grading 1800 Salvage value of lumber of shed 170 Broker commission 1330 Paving of parking lot 12000 Closing costs 580 Sheridan will record the acquisition cost of the land as $71000. $75280. $74940. $72910.

Sheridan Company acquires land for $71000 cash. Additional costs are as follows. Removal of shed $400 Filling and grading 1800 Salvage value of lumber of shed 170 Broker commission 1330 Paving of parking lot 12000 Closing costs 580 Sheridan will record the acquisition cost of the land as $71000. $75280. $74940. $72910.

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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