how would I find the balance of land at year end? ...
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how would I find the balance of land at year end?
Land is purchased for $125,000. The purchaser also paid back taxes of $2,500; costs to demolish an existing building and clear the land of $62,500, and costs of paving to put in a parking lot of $37.500. The purchaser also paid the current year property taxes at year end. amounting to $1,500. What is the balance in the Land account at year end? $190,000 $225,000 $227.500 $191,500 $229,000
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