• Purchased land for a $50,000 down payment and signed a $100,000 note payable f

Question

• Purchased land for a $50,000 down payment and signed a $100,000 note payable for the balance

• Delinquent property tax of $2,500 and legal fees of $1,500

• $5000 to remove an unwanted building

• Architect fee of $2,000 for the design of a building

• Constructed an office building at a cost of $500,000

• Interest cost on construction loan for the building, $20,000

• $7,500 for fencing, $4000 for landscaping, and $5000 for lighting



Determine the cost of the land

Determine the cost of the land improvements

Determine the cost of the building

Explanation / Answer

I think these are the answers you're looking for. Hope it helps! Land: 50000+100000+2500+1500+5000+7500 Land improvements:4000+5000 Building:2000+500000+20000

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