Bonita Industries purchased land as a factory site for $1355000. Bonita paid $112000 to tear...
70.2K
Verified Solution
Link Copied!
Question
Accounting
Bonita Industries purchased land as a factory site for $1355000. Bonita paid $112000 to tear down two bulidings on the land, Salvage was sold for $8500. Legal fees of $5160 were paid for title investigation and inaking the purchase. Architect's fees were $46100. Tite insurance cost $3900, and liability insurance during construction cost $4200. Excavation cost $15740. The contractor, was paid $4300000. An assessment made by the city for pavement was $9600. Interest costs doring construction were $251000. The cost of the land that should be recorded by Barita tndustricis is $1467560. $1477160. $1481760. $1491360
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!
