MEASURING PLANT ASSETS
Read short exercise S9-1 located in Chapter 9 of the Accounting text. Post your response and interactions with your classmates. suppose smart touch needs property and purchases land for $50,000 with a note payable for the same amount. smart touch also pays cash as follows:$4,000 with a property taxes in arrears, $2,000 in transfer taxes, $5000 to remove an old building and a $1,000 survey fee, what is the company's cost of this land.