Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. village delivery company purchased a lot to constr

Village Delivery Company purchased a lot to construct a new warehouse for $293,000, paying $44,000...

50.1K

Verified Solution

Question

Accounting

Village Delivery Company purchased a lot to construct a new warehouse for $293,000, paying $44,000 in cash and giving a short-term note for the remainder. Legal fees paid in connection with the purchase were $1,420, delinquent taxes assumed were $13,300, and fees paid to remove an old building from the land were $18,100. Materials salvaged from the demolition of the building were sold for $5,100. A contractor was paid $1,024,500 to construct a new warehouse.

Determine the cost of the land to be reported on the balance sheet. $fill in the blank 1

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

Civil Engineering
1.2K views

i'm looking for a question about subsurface drainange it can be calculating question or a describtion questiom...

Physics
1.2K views

Answer these two to the fullest: 1. Explain magnetic inductance and give examples in daily life. 2. In...

Psychology
1.2K views

Pick one of the toipics below and prepare a one page memo to me with your...

Biology
1.2K views

Which of the following belongs to the class Ophiurodea O a Sea urchin Ob Brittle...

Biology
1.2K views

D occurs in the chloroplast whereas Photosynthesis Oxidative phosphorylation Oxidative phosphorylation Photosynthesis occurs in the...

Biology
1.2K views

ons must be lost or gained by each of the following atoms to attain a...

Basic Math
1.2K views

Find the discriminant of each quadratic equation thenstate the number and type of solutions.-m +...

Calculus
1.2K views

Use the x y coordinates in the figure to find the value of the trigonometric...

Algebra
1.2K views

ivide Check your answer by showing that the product of the divisor and the ividend...

Algebra
1.2K views

What is the coefficient of the term containing x2y in the expansion of 3x y...

Accounting
1.2K views

Prepare adjusting, closing, and payroll entries for...

Accounting
1.2K views

Sunland, Inc. issued a $95,000,4-year, 10% note at face value to Flint Hills Bank on...