Company ABC purchases land for RO 50000 and incurs the following additional costs at the time...

 

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Company ABC purchases land for RO 50000 and incurs the following additional costs at the time of purchase. Prepare the necessary journal entry for land improvement. Draining Costs Lawyer's Fees Construction of Parking Title Fees Recording Fees Construction of Fence Payment of Seller's Back Taxes Select one: O a. Dr Ob. Dr C Dr Cr Cr Cr Land Cash Land Improvement Cash Land Improvement Cash 86300 1200 2600 RO 500 1000 2600 1200 700 1200 500 86300 1200 2600 Qu 1 10 19 Fini Tim Company ABC purchases land for RO 50000 and incurs the following additional costs at the time of purchase. Prepare the necessary journal entry for land improvement. Draining Costs Lawyer's Fees Construction of Parking Title Fees Recording Fees Construction of Fence Payment of Seller's Back Taxes Select one: O a. Dr Ob. Dr C Dr Cr Cr Cr Land Cash Land Improvement Cash Land Improvement Cash 86300 1200 2600 RO 500 1000 2600 1200 700 1200 500 86300 1200 2600 Qu 1 10 19 Fini Tim

Answer rating: 100% (QA)

Solution Journal Entry of Land Improvements General Jour... View the full answer