E9-17 (similar to) Question Help Ayer Fumiture purchased land, paying $95,000 ca

Question

E9-17 (similar to) Question Help Ayer Fumiture purchased land, paying $95,000 cash and signing a $340,000 note payable. In addition, Ayer paid delinquent property tax of $4,000, te insurance oosting $4,500, and $6,000 to level trhe land and remove an unwanted building. The company then constructed an office building at a cost of $600,000. It aso 47,000 for a fence around the property,$13,000 for a sign near the entranon, and $9,000 for special lighting of the grounds. Read the requirements peid Requirement 1. Determine the oost of the land, land improvements, and building The oost of the land is Enter any number in the edit fieids and then cick Check Answer Clear All Check Answer MacBook Air 3 5 6

Explanation / Answer

cost of land purchase price 435000 property tax 4,000 title insurance 4,500 Removal of building 6,000 cost of land 449500 cost of building 600,000 land improvements fencing 47,000 sign 13,000 special lightining 9,000 cost of land improvements 69,000 it will depreciate building and land improvements

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