Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

Exercise 30

Shoppers' Market purchased for $265,000 a site on which it planned to build a new store.he site consisted of three acres of land and included an old house and two barns.ounty property tax records showed the following appraised values for this property: land, $160,000; buildings, $40,000.ndicate what Shoppers' should do with this $265,000 cost in its financial statements, and explain your reasoning.