Assume the following facts related to a land purchase:
A) $178,000
B) $180,000
C) $193,000
D) $196,000

Name: Assume the following facts related to a land purchase: A) $178,000 B) $180,000 C) $193,000 D) $196,000
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Question

Assume the following facts related to a land purchase:    
A) $178,000 
B) $180,000 
C) $193,000 
D) $196,000

Quizplus · Accepted Answer

Cost of land = Land purchase price + Broker's commission + Payment for the demolition and removal of existing building - Cash received from the sale of materials salvaged from demolished building = $178,000 + $15,000 + $5,000 - $2,000 = $196,000

Assume the Following Facts Related to a Land Purchase