Acer, Inc plans to develop a shopping center
In the first quarter, the following amounts were spent:
Acquisition of land $17,000
Surveys and legal fees 600
Land clearing 800
Fencing 5,000
Install lighting and signage 1,560
What amount should be recorded as the cost of the land in the corporation's books?
A) $23,400
B) $18,400
C) $19,960
D) $22,800
B .Acquisition of land $17,000
Surveys and legal fees 600
Land clearing 800
Cost of land $18,400
You might also like to view...
A learning organization could be described by all of the following statements EXCEPT:
a. employee participation is encouraged b. employee commitment is encouraged c. a core team is held accountable for organizational sucess d. a core team is held accountable for organizational success e. a workplace environment fostering motivation is encouraged
Under the absorption-cost approach, all of the following are included in the cost base except
a) direct materials. b) fixed manufacturing overhead. c) selling and administrative costs. d) variable manufacturing overhead.