sheridan clinic purchases land for $174400 cash. the clinic assumes $1800 in property taxes due on the land. the title and attorney fees totaled $1000. the clinic has the land graded for $1900. what amount does sheridan clinic record as the cost for the land? $171500 $179100 $174400 $169700

Question

20-12-2022
Business

Answered

sheridan clinic purchases land for $174400 cash. the clinic assumes $1800 in property taxes due on the land. the title and attorney fees totaled $1000. the clinic has the land graded for $1900. what amount does sheridan clinic record as the cost for the land? $171500 $179100 $174400 $169700

Answer :

Other Questions

The cost at which a company records purchases of machinery and equipment should include which of the following? (Check all that apply.) Multiple select question

Write a program that can be used to determine the tip amount that should be added to a restaurant charge. allow the user to input the total, before taxes and th

based on this information, fenton manufacturing company should report cash and cash equivalents on june 30 of:

Which of the following is a reason a seller might consider selling his property through an installment contract rather than a traditional sale? The buyer in an

Kevin is preparing a comparative market analysis (cma) on a commercial net leased office property that has 100% occupancy and income of $67,000, with expenses o

Moran owns a building he bought during year 0 for $150,000. He sold the building in year 6. During the time he held the building, he depreciated it by $32,000.

a price floor creates a situation in which one party wins and another party loses and the gains for the winner are equal to the losses for the loser.T/F

using the double declining balance balance method of depreciation, what is the correct book value for the machine at the end of the first year?

As the price of good x rises as a result of a decrease in supply, the demand for good y falls. therefore, goods x and y are

Monarch Company uses a weighted-average perpetual inventory system and has the following purchases and sales: January 1, 20 units were purchased at $10 per unit

smecloudbird18 smecloudbird18 · Answer 1 · 2022-12-26T11:01:54-05:00

The amount sheridan clinic record as the cost for the land is A)$171500.Certain expenses incurred when purchasing land should be classified as land because they are common and necessary.

These expenses comprise the price of the property as well as title fees, attorney fees, survey charges, and zoning fees. Costs for site preparation, such as grading and drainage, as well as the expense of demolishing an old building, are also included. All of these expenses could be regarded as typical and required to prepare the land for its intended purpose. Land improvements are one type of cost. Parking lots, sidewalks, landscaping, irrigation systems, and related expenses all fall under this category of assets.

To know more about accounts here

https://brainly.com/question/14481016

#SPJ4