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:
$$\begin{array} { | l | c | }
\hline \text { (a) Land } & \$\_ \
\hline \text { (b) Land Improvements } & \$\_ \
\hline \text { (c) Buidirg } & \$\_ \
\hline
\end{array}$$

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:
 $$\begin{array} { | l | c | } 
\hline \text { (a) Land } & \$\_ \
\hline \text { (b) Land Improvements } & \$\_ \
\hline \text { (c) Buidirg } & \$\_ \
\hline
\end{array}$$

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:
 $$\begin{array} { | l | c | } 
\hline \text { (a) Land } & \$\_ \
\hline \text { (b) Land Improvements } & \$\_ \
\hline \text { (c) Buidirg } & \$\_ \
\hline
\end{array}$$

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