These expenditures were incurred by Crane Company in purchasing land: cash price $55,240, assumed accrued taxes $4,810, attorney's fees $2,740, real estate broker's commission $3,600, and clearing and grading $4,750. What is the cost of the land? The cost of the land $

These expenditures were incurred by Crane Company in purchasing land: cash price $55,240, assumed accrued taxes $4,810, attorney's fees $2,740, real estate broker's commission $3,600, and clearing and grading $4,750. What is the cost of the land? The cost of the land $

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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These expenditures were incurred by Crane Company in purchasing land: cash price $55,240, assumed accrued taxes $4,810,
attorney's fees $2,740, real estate broker's commission $3,600, and clearing and grading $4,750.
What is the cost of the land?
The cost of the land
$

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