Excercise E10 2

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Sheet1Cash price of property$90,000.00Net removal cost of warehouse$4,900.00Attorney's Fees$1,100.00Real Estate Broker's Commission$5,000.00Cost of Land$101,000.00DebitCreditLand$1,010,000.00Cash$101,000.00DebitCreditBuilding Account$7,800.00Cash$7,800.00DebitCreditLand Improvement$14,000.00Cash$14,000.00

&C&18Land

Sheet2

Sheet3

MBD0813825A.doc

Land

Cash price of property

$ 100,000

Net removal cost of warehouse

6,000

Attorneys fee

1,000

Real estate brokers commission

8,000

Cost of land

$ 115,000