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A company purchased property for a building site. The costs associated with

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A company purchased property for a building site. The costs associated with the property were;Purchase price $175,000;Real estate commissions 15,000;Legal fees 800;Expenses of clearing the land 2,000;Expenses to remove old building 1,000;What portion of these costs should be allocated to the cost of the land and what portion should be allocated to the cost of the new building?

 

Paper#25040 | Written in 18-Jul-2015

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