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natka813 [3]
2 years ago
12

A company purchased a 3-acre tract of land for a building site for $480,000. The company demolished the old building at a cost o

f $25,000, but was able to sell scrap from the building for $2,800. The cost of title transfer was $1,550 and attorney fees for reviewing the contract was $760. Property taxes paid were $9,500, of which $900 covered the period after the purchase date. The capitalized cost of the land is: Multiple Choice $514,860. $514,610. $513,110. $379,610.
Business
1 answer:
dedylja [7]2 years ago
5 0

Answer:

$513,110

Explanation:

The computation of the cost of the land is shown below:

= Purchase tract of land + demolished cost of old building - scrap of the building + title transfer cost + attorney fees + property taxes - amount covered the period

= $480,000 + $25,000 - $2,800 + $1,550 + $760 + $9,500 - $900

= $513,110

We simply applied the above formula

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False

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3 years ago
Suppose the government cuts taxes to keep the economy's cyclically adjusted budget in balance when the economy is expanding. The
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When the government cuts taxes to keep the economy's cyclically adjusted budget in balance when the economy is expanding. The government is engaging in "neutral fiscal policy".

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7 0
1 year ago
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It is important to know also that the time-sharing industry is mostly available within the United States and it is a multi-billion dollar industry, meaning the time-sharing concept is popular in the United States.

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