Marigold Corp. purchased land as a factory site for $1345000. Marigold paid $111000 to tear down two
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Marigold Corp. purchased land as a factory site for $1345000. Marigold paid $111000 to tear down two buildings on the land. Salvage was sold for $8500. Legal fees of $5060 were paid for title investigation and making the purchase. Architect's fees were $46700. Title insurance cost $3600, and liability insurance during construction cost $3900. Excavation cost $15480. The contractor was paid $4400000. An assessment made by the city for pavement was $9700. Interest costs during construction were $256000. The cost of the building that should be recorded by Marigold Corp. is
$4406680. |
$4405800. |
$4420600. |
$4722080. |
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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