COST OF PROPERTY, PLANT, AND EQUIPMENT
Joe Schultz, Inc., purchased six acres of land for $30,000. Mr. Schultz is uncertain about what other expenditures in relation to this purchase he should include in the cost of land. From the following list, choose what expenditures Mr. Schultz should include and total them.
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Purchase price
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$30,000
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Legal fees related to purchase
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1,000
|
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Removal of old warehouse
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8,000
|
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Planting shrubs along road
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1,500
|
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Interest on loan to purchase property
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3,000
|
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Realtor fee
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1,200
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