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These expenditures were incurred by Whispering Winds Company in purchasing land: cash price $75,000, assumed accrued taxes $5,400, attorneys' fees $2,800, real estate broker's commission $1,200, and clearing and grading $4,200. What is the cost of the land? Cost of the land $ 69

These expenditures were incurred by Whispering Winds Company in purchasing land: cash price $75,000, assumed accrued taxes $5,400, attorneys' fees $2,800, real estate broker's commission $1,200, and clearing and grading $4,200. What is the cost of the land? Cost of the land $ 69

Financial Reporting, Financial Statement Analysis and Valuation
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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These expenditures were incurred by Whispering Winds Company in purchasing land: cash price $75,000, assumed accrued taxes $5,400, attorneys' fees $2,800, real estate broker's commission $1,200, and clearing and grading $4,200. What is the cost of the land? Cost of the land $ 69
Transcribed Image Text:These expenditures were incurred by Whispering Winds Company in purchasing land: cash price $75,000, assumed accrued taxes $5,400, attorneys' fees $2,800, real estate broker's commission $1,200, and clearing and grading $4,200. What is the cost of the land? Cost of the land $ 69
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