These expenditures were incurred by Shumway Ltd. in purchasing land: cash price $50,000; legal fees $2,500; removal

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These expenditures were incurred by Shumway Ltd. in purchasing land: cash price $50,000; legal fees $2,500; removal of old building $5,000; cost of clearing and grading $3,500; installation of fence $3,000. What is the cost of the land?

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Financial Accounting Tools for Business Decision Making

ISBN: 978-1118644942

6th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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Question Posted: Jan 11, 2017 10:17 AM

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These expenditures were incurred by Shumway Ltd. in purchasing land: cash price $50,000; legal fees $2,500; removal

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All of the expenditures except the fence should be include...View the full answer

Financial Accounting Tools for Business Decision Making

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