Question

Carla Vista Clinic purchases land for $480000 cash. The clinic assumes $4200 in property taxes due on the land. The title and attorney fees totaled $3200. The clinic had the land graded for $8100. What amount does Carla Vista Clinic record as the cost for the land?A. $476200 B. $470000. C. $484500 D. $478300.

Answer 1

$495,500

Step-by-step explanation:

Carla costs clinic purchases a land for $480,000

The clinic assumes $4,200 in property taxes

The title and attorney fee is $3,200

The land was graded for $8,100

Therefore the cost of the land can be calculated as follows

= $480,000 + $4,200+$3,200 + $8,100

= $495,500