Al Raud purchased an old farmland on the outskirts of Muscat as a factory site. Expenditure incurred
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Al Raud purchased an old farmland on the outskirts of Muscat as a factory site. Expenditure incurred in purchasing the land were as follows: purchase price, OMR 85,000; real estate broker’s commission, OMR 800; title fees, OMR 2,000; demolition of old farm building, OMR 2,700; draining, filling and grading, OMR 5,200; digging foundation for parking lot, OMR 1,500; laying and paving driveway, OMR 15,000; lighting, OMR 5,500; underground sprinklers and lighting systems, OMR 2,500. Compute the total cost of Land?
a. None of these
b. OMR 95,700
c. OMR 120,200
d. OMR 116,200
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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