Business, 11.05.2021 03:20 KrazyBird0912

Merchant Company purchased property for a building site. The costs associated with the property were: Purchase Price $ 185,000 Real estate commission $ 15,000 Legal fees $ 700 Expenses of clearing the land $ 2,000 Expenses to remove the old building $ 4,000 What portion of these costs should be allocated to the cost of the land and what portion should be allocated to the cost of the new building

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Merchant Company purchased property for a building site. The costs associated with the property were...

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