Home D2L 5-1 Problem Set: Module X agenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessio... A $ CengageNOWv2 | Online X Determining Cost of Land On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $44,000 in cash and giving a short-term note for $299,000. Legal fees paid were $2,150, delinquent taxes assumed were $15,300, and fees paid to remove an old building from the land were $18,400. Materials salvaged from the demolition of the building were sold for $5,100. A contractor was paid $1,042,700 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet. Accounting numeric field MindTap Cengage Learni D

On-Time Dellvery Company acquired an adjacent lot to construct a new warehouse, paying $44,000 in cash and giving a short-term note for 5299,000 , Legal fees paid were $2,150, delinquent taxes assumed were $15,300, and fees paid to remove an old bulding from the land were $18,400. Materials salvaged from the demolition of the building were sold for $5,100, A contractor was paid $1,042,700 to construct a new warehquse. Determine the cost of the land to be reported on the balance sheet