Primadonna Company paid $870,000 plus $10,000 in legal costs for a parcel of real estate.This included land appraised at $450,000; land improvements appraised at $170,000; and a building appraised at $380,000.The plan is to use the building as a manufacturing plant.Determine the amounts that should be debited to:
$\begin{array}{|l|c|}
\hline \text { (a) Land } & \$\_\_\_\_ \
\hline \text { (b) Land Improvements } & \$\_\_\_\_ \
\hline \text { (c) Building } & \$\_\_\_\_ \
\hline
\end{array}$

Question

Primadonna Company paid $870,000 plus $10,000 in legal costs for a parcel of real estate.This included land appraised at $450,000; land improvements appraised at $170,000; and a building appraised at $380,000.The plan is to use the building as a manufacturing plant.Determine the amounts that should be debited to:
 $\begin{array}{|l|c|}
\hline \text { (a) Land } & \$\_\_\_\_ \
\hline \text { (b) Land Improvements } & \$\_\_\_\_ \
\hline \text { (c) Building } & \$\_\_\_\_ \
\hline
\end{array}$

Quizplus · Accepted Answer

The Answer of Primadonna Company paid $870,000 plus $10,000 in legal costs for a parcel of real estate.This included land appraised at $450,000; land improvements appraised at $170,000; and a building appraised at $380,000.The plan is to use the building as a manufacturing plant.Determine the amounts that should be debited to:
 $\begin{array}{|l|c|}
\hline \text { (a) Land } & \$\_\_\_\_ \
\hline \text { (b) Land Improvements } & \$\_\_\_\_ \
\hline \text { (c) Building } & \$\_\_\_\_ \
\hline
\end{array}$

Primadonna Company Paid $870,000 Plus $10,000 in Legal Costs for a Parcel