Business, 14.12.2019 01:31 Alexhall112

Fullerton waste management purchased land and a warehouse for $800,000. in addition to the purchase price, fullerton made the following expenditures related to the acquisition: broker’s commission, $50,000; title insurance, $13,000; miscellaneous closing costs, $16,000. the warehouse was immediately demolished at a cost of $38,000 in anticipation of the building of a new warehouse.

determine the amounts fullerton should capitalize as the cost of the land and the building.

capitalized cost of land =capitalized cost of building =

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Fullerton waste management purchased land and a warehouse for $800,000. in addition to the purchase...

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