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The following expenditures were incurred by Miller Corporation in purchasing land: Cash price Accrued taxes Attorneys' fees Clearing and grading $85,000 $3,200 $4,500 Real estate broker's commission $1,300 What is the cost of the land? $4,800

The following expenditures were incurred by Miller Corporation in purchasing land: Cash price Accrued taxes Attorneys' fees Clearing and grading $85,000 $3,200 $4,500 Real estate broker's commission $1,300 What is the cost of the land? $4,800

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter10: Property, Plant And Equipment: Acquisition And Subsequent Investments
Section: Chapter Questions
Problem 3RE: Utica Corporation paid 360,000 to purchase land and a building. An appraisal showed that the land is...
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What is the cost of the land?

The following expenditures were incurred by Miller Corporation in purchasing land: Cash price Accrued taxes Attorneys' fees Clearing and grading $85,000 $3,200 $4,500 Real estate broker's commission $1,300 What is the cost of the land? $4,800
Transcribed Image Text:The following expenditures were incurred by Miller Corporation in purchasing land: Cash price Accrued taxes Attorneys' fees Clearing and grading $85,000 $3,200 $4,500 Real estate broker's commission $1,300 What is the cost of the land? $4,800
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