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Business, 15.11.2019 21:31 jjbossgt

On march 1, 2019, pharoah company acquired real estate on which it planned to construct a small office building. the company paid $95,000 in cash. an old warehouse on the property was raised at a cost of $8,900; the salvaged materials were sold for $1,600. additional expenditures before construction began included $1,900 attorney’s fee for work concerning the land purchase, $5,500 real estate broker’s fee, $7,200 architect’s fee, and $14,700 to put in driveways and a parking lot.
determine the amount to be reported as the cost of the land.
cost of land: $

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On march 1, 2019, pharoah company acquired real estate on which it planned to construct a small offi...
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