Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. masey corporation purchased a piece of land for $5

masey Corporation purchased a piece of land for $50,000. Masey pay attorney fees of $5,000...

60.1K

Verified Solution

Question

Accounting

masey Corporation purchased a piece of land for $50,000. Masey pay attorney fees of $5,000 and broker's commission of $4,000 in connection with the purchase. An old building on the land was torn down at a cost of $2000, and proceeds from the scrap were $500. how much is the total cost of the land?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

The Brenmar Sales Company had a gross profit margin (gross profits /  sales) of 28% and sales...

Biology
1.2K views

Why is the mitochondria, ribosomes, and cell membrane less important than the nucleus overall? Are these...

Electrical Engineering
1.2K views

For the circuit 10 Vp AC with R=10 Ω, and L=8.2 mH (in series) compute XL...

Biology
1.2K views

ACTIVITY 2 Obtain the following slides Draw and describe the of mouth bud if present...

Algebra
1.2K views

Based on the definition of x x x x x A B C D E...

Algebra
1.2K views

Find the inverse of the function y x 12 Oy x 12 Oy x 12...

Accounting
1.2K views

You have a 4-year coupon bond that pays semiannual interest. The coupon rate is 8%...

Accounting
1.2K views

Exercise 10-25 Sandhill Co. issued $477,000, 6%, 30-year bonds on January 1, 2022, at 105....

Accounting
1.2K views

Q006: Which of the following accounts would be closed at the end of an accounting...

Accounting
1.2K views

What is a long-lived asset? How does Best Buy account for long-lived assets, and what...

Accounting
1.2K views

Vrai ou faux : les revenus sont comptabiliss dans la priode comptable au cours de...

Finance
1.2K views

Which of the following should you NOT consider as relevant cash flow (flows) when considering...