Business, 05.05.2020 20:14 emthebest123
On February 1, 2020, Hawser Corporation purchased a parcel of land as a factory site for $960,000. An old building on the property was demolished, and construction began on a new building which was completed on November 1, 2020.
Costs incurred during this period are listed below:
Demolition of old building $ 60,000
Architects Fees 105,000
Legal fees for title investigation and purchase contract 15,000
Construction costs 4,170,000
Salvaged materials resulting from demolition were sold for $30,000.
Hawser should record the cost of the land and new building, respectively, as .
Answers: 3
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On February 1, 2020, Hawser Corporation purchased a parcel of land as a factory site for $960,000. A...
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