Cost of Land: The cost of land includes the following costs: Purchase price of land Attorney fees Real estate agent commission Title Recording fees Additional expenses: Clearing Filling and leveling of land Removing of old buildings the amount to be reported as cost of landfor Company W.

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Answer 1

Question

Chapter 9, Problem 9.3E

(a)

To determine

Cost of Land: The cost of land includes the following costs:

Purchase price of land

Attorney fees

Real estate agent commission

Title

Recording fees

Additional expenses:

Clearing

Filling and leveling of land

Removing of old buildings

the amount to be reported as cost of landfor Company W.

(b)

To determine

To indicate: the account titles to be debited that are not included in the cost of land.

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Answer 2

Question

Chapter 9, Problem 9.3E

(a)

To determine

Cost of Land: The cost of land includes the following costs:

Purchase price of land

Attorney fees

Real estate agent commission

Title

Recording fees

Additional expenses:

Clearing

Filling and leveling of land

Removing of old buildings

the amount to be reported as cost of landfor Company W.

(b)

To determine

To indicate: the account titles to be debited that are not included in the cost of land.

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Answer 3

Question

Chapter 9, Problem 9.3E

(a)

To determine

Cost of Land: The cost of land includes the following costs:

Purchase price of land

Attorney fees

Real estate agent commission

Title

Recording fees

Additional expenses:

Clearing

Filling and leveling of land

Removing of old buildings

the amount to be reported as cost of landfor Company W.

(b)

To determine

To indicate: the account titles to be debited that are not included in the cost of land.

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Answer 4

Question

Chapter 9, Problem 9.3E

(a)

To determine

Cost of Land: The cost of land includes the following costs:

Purchase price of land

Attorney fees

Real estate agent commission

Title

Recording fees

Additional expenses:

Clearing

Filling and leveling of land

Removing of old buildings

the amount to be reported as cost of landfor Company W.

(b)

To determine

To indicate: the account titles to be debited that are not included in the cost of land.

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Answer 5

Chapter 9, Problem 9.3E

(a)

To determine

Cost of Land: The cost of land includes the following costs:

Purchase price of land

Attorney fees

Real estate agent commission

Title

Recording fees

Additional expenses:

Clearing

Filling and leveling of land

Removing of old buildings

the amount to be reported as cost of landfor Company W.

(b)

To determine

To indicate: the account titles to be debited that are not included in the cost of land.

Answer 6

Chapter 9, Problem 9.3E

(a)

To determine

Cost of Land: The cost of land includes the following costs:

Purchase price of land

Attorney fees

Real estate agent commission

Title

Recording fees

Additional expenses:

Clearing

Filling and leveling of land

Removing of old buildings

the amount to be reported as cost of landfor Company W.

Answer 7

Chapter 9, Problem 9.3E

(a)

To determine

Cost of Land: The cost of land includes the following costs:

Purchase price of land

Attorney fees

Real estate agent commission

Title

Recording fees

Additional expenses:

Clearing

Filling and leveling of land

Removing of old buildings

the amount to be reported as cost of landfor Company W.

Answer 8

(b)

To determine

To indicate: the account titles to be debited that are not included in the cost of land.

Answer 9

(b)

To determine

To indicate: the account titles to be debited that are not included in the cost of land.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 9 - Prob. 1Q Ch. 9 - Prob. 2Q Ch. 9 - Prob. 3Q Ch. 9 - Prob. 4Q Ch. 9 - Prob. 5Q Ch. 9 - Prob. 6Q Ch. 9 - Prob. 7Q Ch. 9 - Prob. 8Q Ch. 9 - 9. Distinguish between revenue expenditures and...Ch. 9 - Prob. 10Q

Cost of Land: The cost of land includes the following costs: Purchase price of land Attorney fees Real estate agent commission Title Recording fees Additional expenses: Clearing Filling and leveling of land Removing of old buildings the amount to be reported as cost of landfor Company W.

Concept explainers

Cost of Land: The cost of land includes the following costs:

Purchase price of land

Attorney fees

Real estate agent commission

Title

Recording fees

Additional expenses:

Clearing

Filling and leveling of land

Removing of old buildings

the amount to be reported as cost of landfor Company W.

To indicate: the account titles to be debited that are not included in the cost of land.

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Chapter 9 Solutions