Acquisitions Land and Building Form

Instructions and help about Acquisitions Land And Building

hello and welcome back to another exercise relating to acquisition of assets in this case we're looking at tangible assets but we have lots of purchase and we have two different uh scenarios we're looking at so let's start with the first basic information given over here samtech manufacturing has purchased land and building for a total of four million dollars in addition to this purchase price they made the following expenditures the title insurance is sixteen thousand dollars legal fees for drawing up the contract is another five thousand dollars prorated property tax for the period after acquisition is 36 000 state transfer fees is four thousand dollars then they tell us an independent appraisal estimated the fair value of the land and building if purchased separately as follows land is 3.3 and welding is 1.1 million shortly after acquisition the company spent 82 dollars to construct a parking lot and forty thousand dollars for landscaping so lots of information given over here let's