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...

60.1K

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

Advance Math
1.2K views

Use the method of reduction of order to find a second solution y2 of the given...

Basic Math
1.2K views

The table below lists a random sample of 50 speeding tickets on I-25 in Colorado. 0-10 mph...

Biology
1.2K views

Which metabolic pathway is common to both fermentation and cellular respiratia A the Krebs citric...

Biology
1.2K views

This iconic photo was taken by Dorothea Lange and was commissioned by the O Farm...

Physics
1.2K views

0 An engine pumps water continuously through a hole Speed with which water passes through...

Calculus
1.2K views

Find the component form of the indicated vector Let u 2 7 v 6 5...

Accounting
1.2K views

The following information relates to Dazie Company: oolnts \table[[Sales revenue,$18,500,000

Accounting
1.2K views

Assume that a company buys a new machine for $220,000 that has a useful life...

Accounting
1.2K views

Jasper Company has 61% of its sales on credit and 39% for cash. All credit...

Finance
1.2K views

What is the most you would be willing to pay for a investment that will...

Finance
1.2K views

Question 19(10 points) You recently purchased 600 shares of Southern Timber stock for...

Accounting
1.2K views

Which of the following estimates are not always required when calculating depreciation expense? Select all...