GPauuBoo ORION Downloadable eTextboolk ment 53 PM/ Remaining: 41 min. CALCULATOR

Question

GPauuBoo ORION Downloadable eTextboolk ment 53 PM/ Remaining: 41 min. CALCULATOR FULL SCREEN Question 18 Wildhorse Co. acquires land for $98000 cash. Additional costs are as follows. Removal of shed Filling and grading $600 1000 130 1110 11000 700 Salvage value of lumber of shed Broker commission Paving of parking lot Closing costs Wildhorse will record the acquisition cost of the land as $101540 $101280. $98000 $99810 Click if you would like to Show Work for this question: Open Show Work I Privacy-Policy S 2000-201BJohnwaeYASons, Inc. All Rights Reserved. A Division of 20hnyyley Sons. Inc MacBook Ai

Explanation / Answer

paving of Parking lot should not be included and salvage value should be subtracted from amount capitalized

Cost of land = 98000+600+1000-130+1110+700

= $101280

Option B is Correct

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