A Company Purchased Land on Which to Construct a New

question 167

Essay

A company purchased land on which to construct a new building for a cost of $350,000. Additional costs incurred were:
$\begin{array}{lr}\text { Real estate broker's commissions } & \$ 24,500 \\\text { Legal fees incurred in purchase of the real estate } & 1,500 \\\text { Landscaping } & 8,000 \\\text { Cost to remove old house located on land } & 3,000 \\\text { Proceeds from selling materials salvaged from old house } & 1,000\end{array}$
What total dollar amount should be charged to Land and what amount should be charged to Building or other accounts?

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Definitions:

Idiosyncrasy Credits

The leeway or tolerance a person earns over time within a group by conforming to group norms, allowing them later to deviate without severe repercussions.

Minority Dissenters

Minority dissenters are individuals in a group who express differing or opposing views from the majority, often contributing to group diversity of thought and decision-making processes.

Group Members

Individuals who belong to a particular group or team, sharing common goals, responsibilities, or interests.

Moscovici

Serge Moscovici, a French social psychologist known for his work on social influence, minority influence, and the theory of social representations.