On March 1 2017 Landon Company acquired real estate on which it planned to construct a small office building. The company paid $90000 in cash. An old warehouse on the property was razed at a cost of $7600; the salvaged materials were sold for $1700. Additional expenditures before construction began included $1100 attorney's fee for work concerning the land purchase $4000 real estate broker's fee $7800 architect's fee and $14000 to put in driveways and a parking lot.
Instructions
Determine the amount to be reported as the cost of the land.

Question

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The Answer of On March 1 2017 Landon Company acquired real estate on which it planned to construct a small office building. The company paid $90000 in cash. An old warehouse on the property was razed at a cost of $7600; the salvaged materials were sold for $1700. Additional expenditures before construction began included $1100 attorney's fee for work concerning the land purchase $4000 real estate broker's fee $7800 architect's fee and $14000 to put in driveways and a parking lot.
Instructions
Determine the amount to be reported as the cost of the land.

On March 1 2017 Landon Company Acquired Real Estate on Which