The cost of land includes all of the following exceptGroup of answer choicesaccrued property taxes.real estate brokers' commissions.parking lots.closing costs.

The cost of land does not includeGroup of answer choicesannual property taxes.title fees.accrued property taxes assumed by the purchaser.real estate brokers' commission.

Which of the following expenditures would you NOT include in the cost of land?Group of answer choicesreal estate broker's commissionall of these should be included in the cost of land.net demolition costsattorney's fees

The cost of fees for insuring the title and any accrued property taxes are included in the cost of landGroup of answer choicesTrueFalse

Which of the following costs is NOT included in a Land account?Select answer from the options belowthe cost of tearing down a buildingdrainage costssurveying and legal coststhe cost of building a fence

Merchant Company purchased land for a building site. The costs associated with the property were: Purchase price $ 182,000Real estate commissions 15,700Legal fees 1,500Expenses of clearing the land 2,700What is the total recorded cost of the land?Multiple Choice$201,900$182,000$185,500$199,200$197,700