Ask Question
23 August, 22:56

Based on the following data, what is the cost of the land?

Land purchase price $196,022

Broker's commission 16,158

Payment for demolition and removal of existing building 4,993

Cash received from sale of materials salvaged from demolished building 2,645 $

+1
Answers (1)
  1. 24 August, 00:23
    0
    cost = 214528

    Explanation:

    the cost of the asset includes

    . purchase price

    . directly attributable cost and

    . certain future costs

    in the given scenario

    purchase price = 196022

    direct. attributable cost:

    commission cost = 16158

    net removal cost (4993-2645) = 2348

    total cost of land = 214528
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Based on the following data, what is the cost of the land? Land purchase price $196,022 Broker's commission 16,158 Payment for demolition ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers