The following expenditures were incurred by McCoy Company in purchasing land: Cash price Accrued taxes Attorneys' fees $79,000 $2,800 $3,900 Real estate broker's commission $1,100 Clearing and grading $4,000. What is the cost of the land?
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- These expenditures were incurred by Blossom Company in purchasing land: cash price $55,000, assumed accrued property taxes $4,500, attorney's fees $2,100, real estate broker's commission $3,000, and clearing and grading $4,000. What is the cost of the land? The cost of the land 73900The following expenditures were incurred by Monty Company in purchasing land: cash price $73,000, accrued taxes $5,500, attorneys’ fees $2,800, real estate broker’s commission $1,100, and clearing and grading $5,700. What is the cost of the land? Cost of the land $Current Attempt in Progress These expenditures were incurred by Cullumber Company in purchasing land: cash price $60,010, assumed accrued taxes $5,490, attorney's fees $2,260, real estate broker's commission $3,960, and clearing and grading $4,220. What is the cost of the land? The cost of the land $
- Determine the cost of land. BE9.1 (LO 1), AP These expenditures were incurred by Dobbin Company in purchasing land: cash price $60,000, assumed accrued taxes $5,000, attorney's fees $2,100, real estate broker's commission $3,300, and clearing and grading $3,500. What is the cost of the land? Determine the cost of a truck. PE mCalculate and allocate basis for the following problems. 1. A property is acquired for a purchase price of $230,000 cash plus acquisition costs of $20,000. The tax assessment for this property is as follows: Assessed Value Land Improvements Total assessments $40,000 160,000 $200,000 a. What is the acquisition basis for this property? b. What is the allocation for land? c. What is the allocation for improvements?1. The following expenditures were incurred by Grouper Company in purchasing land: cash price $80,000, accrued taxes $3,500, attorneys’ fees $2,100, real estate broker’s commission $1,600, and clearing and grading $5,100. What is the cost of the land? 2. Riverbed Company incurs the following expenditures in purchasing a truck: cash price $53,000, accident insurance $4,500, sales taxes $2,900, motor vehicle license $100, and painting and lettering $400. What is the cost of the truck?
- What value should be allocated to the building for this accounting question?Calculate the assessed value (in $) and the property tax due (in $) on the property. Fair MarketValue AssessmentRate AssessedValue PropertyTax Rate PropertyTax Due $304,000 80 $ $25.40 per $1,000 $What is the cost of the land, based upon the following data? Land purchase price $174,323 Broker's commission 15,683 Payment for the demolition and removal of existing building 3,872 Cash received from the sale of materials salvaged from the demolished building 2,068