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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 408 Weeks Ago, 6 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Alligator Delivery Company acquired an adjacent lot to construct a new warehouse, paying $35,000 and giving a short-term note for $125,000. Legal fees paid were $1,100, delinquent taxes assumed were $12,500, and fees paid to remove an old building from the land were $18,000. Materials salvaged from the demolition of the building were sold for $3,600. A contractor was paid $512,500 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet.
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