Acme Investments Plans to Develop a Shopping Center -What Amount Should Be Recorded as the Land Cost?
A)

question 137

Multiple Choice

Acme Investments plans to develop a shopping center.In the first quarter,they spent the following amounts: $$\begin{array} { l r } \text { Purchase land } & \$ 100,000 \\\text { Surveys and legal fees } & 1,200 \\\text { Land clearing } & 5,000 \\\text { Install fences around the property } & 4,600 \\\text { Install lighting and signage } & 2,600\end{array}$$
-What amount should be recorded as the land cost?

• A) $7,200
• B) $101,200
• C) $46,200
• D) $106,200

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