Sheridan Company acquires land for $81000 cash. Additional costs are as follows. Removal of shed $500...

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Sheridan Company acquires land for $81000 cash. Additional costs are as follows. Removal of shed $500...

Sheridan Company acquires land for $81000 cash. Additional costs are as follows. Removal of shed $500 Filling and grading 1900 Salvage value of lumber of shed 110 Broker commission 1250 Paving of parking lot 10000 Closing costs 460

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Answer 1

Answer #1

Cost of land

= Cash 81,000 + removal 500 + filling 1900 - Salvage 110 + broker commission 1250 + closing cost 460

= 85,000

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Answer 2

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