On December $1.2025,$ Bramble Corp. purchased a tract of land as a factory site for $$805000.$ The old building on the property was razed, and salvaged materials resulting from demolition were sold. Additional costs incurred and salvage proceeds realized during December $2025$ were as follows:Cost to raze old building$$76000$Legal fees for purchase contract and to record ownership$10600$Title guarantee insurance$17100$Proceeds from sale of salvaged materials$7600$In Bramble's December $31,2025$ balance sheet, what amount should be reported as land? 

Answer rating: 100% (QA)

To determine the amount that should be reported as land on Bramble Corps December 31 2025 bala... View the full answer