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18-12-2019
Business

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Bachman, Inc. plans to develop a shopping center. In the first quarter, the following amounts were spent: Acquisition of land $ 15,000 Surveys and legal fees 1,300 Land clearing 900 Fencing 7,000 Install lighting and signage 1,360. What amount should be recorded as the cost of the land in the corporation's books?

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aristeus aristeus

19-12-2019

Answer:

Cost of land will be $17200

Explanation:

We have given acquisition of land = $ 15,000

Surveys and legal fees = $1300

Land clearing = $900

Fencing = $7000

Installing lighting and signage = $1360

We have to find the cost of the land recorded in the corporation books

Cost of the land = $15000+$1300+$900 = $17200

Lighting ,fencing and signage cost is not included in cost of land

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