Acquisition Cost
Rwanda Corporation purchased land at a cost of $ 100,000. Closing costs were $ 3,800, plus Rwanda paid $ 48,000 for site preparation so they could construct a building on the site.
Instructions
Calculate the amount that should be recorded as the cost of the land.

Question

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The Answer of Acquisition Cost
Rwanda Corporation purchased land at a cost of $ 100,000. Closing costs were $ 3,800, plus Rwanda paid $ 48,000 for site preparation so they could construct a building on the site.
Instructions
Calculate the amount that should be recorded as the cost of the land.

Acquisition Cost Rwanda Corporation Purchased Land at a Cost of $ 100,000