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Business, 15.11.2019 06:31 lodridge

Acompany incurred the following costs associated with the purchase of a piece of land that it will use to re-build an office building:

purchase price of the land $ 620,000
sale of salvaged parts already on land $ 20,000
demolition of the old building $ 20,000
ground-breaking ceremony (food and supplies) $ 2,800
land preparation and leveling $ 7,000

what amount should be recorded for the purchase of the land?

multiple choice

$647,000.

$627,000.

$649,800.

$629,800.

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Answers: 1

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