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Land Buildings Equipment Depreciation Equipment Depreciation The following expenditures were incurred by Valentino Company in purchasing land:
Land Buildings Equipment Depreciation Equipment Depreciation The following expenditures were incurred by Valentino Company in purchasing land: cash price $50,000; accrued taxes $7,000; attorneys fees $2,500; real estate brokers commission $2,800; and clearing and grading $3,500. What is the cost of the land? Hector Gonzales Company incurs these expenditures in purchasing a truck: cash price $18,000; accident insurance (during use) $2,000; sales taxes $900; motor vehicle license $300; and painting and lettering $1,200. What is the cost of the truck?
