Business, 03.12.2019 21:31 jak000067oyyfia

Castille corp. purchases, for $600,000, land upon which a building and a dilapidated shed are situated. castille plans to use the building as-is for operations but immediately razes the shed at a cost of $5,000 minus scrap recovery of $1,000. a recent tax appraisal of the property allocated $100,000 to the land and $400,000 to the building. in the entry to record the acquisition of the property,
at what amount will castille debit land?
a. $124,000
b. $120,800
c. $120,000
d. $100,000

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Castille corp. purchases, for $600,000, land upon which a building and a dilapidated shed are situat...

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