On march 1 2014 rollinger company acquired real estate on, Ask an Expert

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On March 1, 2014, Rollinger Company acquired real estate on which it planned to construct a small office building. The company paid $91,270 in cash. An old warehouse on the property was razed at a cost of $8,350; the salvaged materials were sold for $1,560. Additional expenditures before construction began included $1,380 attorney's fee for work concerning the land purchase, $5,650 real estate broker's fee, $7,770 architect's fee, and $14,900 to put in driveways and a parking lot.

Determine the amount to be reported as the cost of the land.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9949285

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