Vijay Inc Purchased a Three-Acre Tract of Land for a Building

question 118

Multiple Choice

Vijay Inc. purchased a three-acre tract of land for a building site for $320,000. On the land was a building with an appraised value of $120,000. The company demolished the old building at a cost of $12,000, but was able to sell scrap from the building for $1,500. The cost of title insurance was $900 and attorney fees for reviewing the contract were $500. Property taxes paid were $3,000, of which $250 covered the period subsequent to the purchase date. The capitalized cost of the land is:

• A) $336,400.
• B) $336,150.
• C) $334,650.
• D) $201,150.

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Definitions:

Terminal Ganglia

Nerve cell clusters located near or within the organs they innervate, involved in the autonomic nervous system.

Parasympathetic Fibers

Nerve fibers of the parasympathetic nervous system that regulate body functions, promoting rest and digestion.

Hypoglossal Nerve

The twelfth cranial nerve responsible for motor control of the tongue, essential for swallowing and speech.

Sympathetic Nerves

Part of the autonomic nervous system that prepares the body for "fight or flight" response, regulating heart rate, blood pressure, and energy mobilization.