What should be the allocation of this properties costs


A company paid $150,000, plus a 6% commission, and $4,000 in closing costs for a property. The property included land appraised at $87,500, land improvements appraised at $35,000, and a building appraised at $52,500. What should be the allocation of this property's costs in the company's accounting records?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What should be the allocation of this properties costs
Reference No:- TGS0693265

Expected delivery within 24 Hours