* 69% 9:25 PM edugen.wileyplus.com iPad Assignment> Open Assignment CALCULATOR F

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* 69% 9:25 PM edugen.wileyplus.com iPad Assignment> Open Assignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Chapter 9 Homework On March 1, 2019, Westmorian Company acquired real estate on which it planned to construct a small office building. The company paid $75,000 in cash. An old warehouse on the property was razed at a cost of $8,600; the salvaged materials were sold for $1,700. Additional expenditures before construction began included 1,100 attorney's fee for work concerning the land purchase, $5,000 real estate broker's fee, $7,800 architect's fee, and $14,000 to put in driveways and a parking lot. Brief Exercise 9-13 Determine the amount to be reported as the cost of the land Exercise 9-14 Cost of land Review Results by Study Objective Question Attempts: 0 of 5 used SAVE FOR LATER SUBMIT ANSWER

Explanation / Answer

Cost of Land $ Cash Paid                    75,000 Net cost of removing warehouse(8600-1700)                      6,900 Attorney's Fee                      1,100 Real estate broker's fee                      5,000 Total                    88,000

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