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Determine the Cost of the Land, Based on the Following

Question 47

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Determine the cost of the land, based on the following data.
$180,000 Land purchase price 15,000 Broke1’s commission 5,000 Payment for the demolition and removal of existing building 1,000 Cashreceived from the sale of materials salvaged from the demolished building \begin{array}{ll}\$ 180,000 & \text { Land purchase price } \\15,000 & \text { Broke1's commission } \\5,000 & \text { Payment for the demolition and removal of existing building } \\1,000 & \text { Cashreceived from the sale of materials salvaged from the demolished building }\end{array}

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$199,000; ($180,000 ...

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