Ellen purchased a home in 2011 for 60000 she paid 12000 and, Financial Accounting

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Ellen purchased a home in 2011 for 60000 she paid 12000 and

Ellen purchased a home in 2011 for $60,000. She paid $12,000 and borrowed $48,000. In 2012 she added a room to the house which cost $10,000. In 2013, she paid $625 to have the house painted and $800 for built-in bookshelves. As of January 1 of the current year, the mortgage balance is $43,000. What is Ellen's basis her home?

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Financial Accounting: Ellen purchased a home in 2011 for 60000 she paid 12000 and

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Financial Accounting: Ellen purchased a home in 2011 for 60000 she paid 12000 and

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