Business, 17.12.2019 22:31 nicollexo21
Fullerton waste management purchased land and a warehouse for $690,000. in addition to the purchase price, fullerton made the following expenditures related to the acquisition: broker’s commission, $39,000; title insurance, $7,500; miscellaneous closing costs, $10,500. assume that fullerton decides to use the warehouse rather than demolish it. an independent appraisal estimates the fair values of the land and warehouse at $592,500 and $197,500, respectively.
determine the amounts fullerton should capitalize as the cost of the land and the building. capitalized cost of land = $capitalized cost of building = $
Answers: 3
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Fullerton waste management purchased land and a warehouse for $690,000. in addition to the purchase...
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