Cheyenne Pharmaceuticals purchased land for $150,200 to build its new headquarters. The land has an old...
Cheyenne Pharmaceuticals purchased land for $150,200 to build
its new headquarters. The land has an old building on it. The
demolition and removal costs of the old building paid were $20,100
and the recovery of salvaged building materials was $9,100. The
cost of clearing, grading and filling is $16,100 and the closing
costs are $10,100.
Prepare the appropriate journal entry for the land, demolition and
other costs assuming the company pays cash.
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Cheyenne Pharmaceuticals purchased land for $150,200 to build its new headquarters. The land has an old...
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