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Problem 1 On July 1,2024, Forward Corporation purchased a parcel of land as...

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Accounting

Problem 1
On July 1,2024, Forward Corporation purchased a parcel of land as a factory site for $325,000.
An old building on the property was demolished and construction began on a new warehouse
that was completed on October 15,2024. Costs incurred on the construction project are listed
below.
Required:
Determine the cost of the land, the building and the land improvements. Please show your
work for partial credit.
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