How JustAnswer Works:

 
 
 
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
 
 
 
Ask Dave CPA Your Own Question
Dave CPA, Accountant
Category: Finance
Positive Feedback: 99.1 %
Satisfied Customers: 819
Experience: I'm a CPA with over 10 years of experience
Type Your Finance Question Here...
Dave CPA is online now
A new question is answered every 9 seconds

The following expenditures were incurred by Obermeyer Company

Resolved Question:

The following expenditures were incurred by Obermeyer Company in purchasing land: cash price $70,499, accrued taxes $2,104, attorneys' fees $3,007, real estate broker's commission $1,501, and clearing and grading $2,501. What is the cost of the land?

Submitted: 12 months ago.
Category: Finance
Picture
Expert:  Dave CPA replied 12 months ago.


Dave CPA :

Hello again,

Ask Your Own Finance Question
Picture
Expert:  Dave CPA replied 12 months ago.

Our chat has ended, but you can still continue to ask me questions here until you are satisfied with your answer. Come back to this page to view our conversation and any other new information.

What happens now?

If you haven’t already done so, please rate your answer above. Or, you can reply to me using the box below.

Ask Your Own Finance Question
Customer: replied 12 months ago.

Hello

 

Customer: replied 12 months ago.

Okay! Thank you.

Customer: replied 12 months ago.

Are you there?

Expert:  Dave CPA replied 12 months ago.

You are offline so I switched to the Q&A mode.

All the costs that you have listed are capitalized and added to the total cost of the land.

The two links below support this. The first one is the policy for capitalization for Indiana University that is in an easy to read format and the other is the definitive explanation.

http://www.iu.edu/~vpcfo/policies/accounting/i-200.html

http://www.nysscpa.org/cpajournal/2004/304/essencials/p34.htm

Let me know if you have any other questions. Dave

Dave CPA, Accountant
Category: Finance
Positive Feedback: 99.1 %
Satisfied Customers: 819
Experience: I'm a CPA with over 10 years of experience
Dave CPA and 2 other Finance Specialists are ready to help you
Ask Your Own Question Now

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • BusinessTutor's Avatar

    BusinessTutor

    Tutor

    Positive Feedback:

    99.8 %

    Satisfied Customers:

    1882
    More than 5000 online tutoring sessions.
< Last | Next >
  • http://ww2.justanswer.com/uploads/BU/BusinessTutor/2012-2-2_115741_Kouki2.64x64.jpg BusinessTutor's Avatar

    BusinessTutor

    Tutor

    Positive Feedback:

    99.8 %

    Satisfied Customers:

    1882
    More than 5000 online tutoring sessions.
  • http://ww2.justanswer.com/uploads/RA/rakhi.v/2012-7-3_14374_RakhiVasavadaL.64x64.jpeg rakhivasavada's Avatar

    rakhivasavada

    Financial and Legal Consultant

    Positive Feedback:

    95.2 %

    Satisfied Customers:

    1675
    Graduated in law with Emphasis on Finance and have have been working in financial sector for over 8
  • http://ww2.justanswer.com/uploads/JK/jkcpa/2011-1-16_182614_jkcpa.64x64.jpg JKCPA's Avatar

    JKCPA

    CPA

    Positive Feedback:

    99.6 %

    Satisfied Customers:

    835
    Bachelors degree and CPA with Accounting experience.
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg MyVirtualCPA's Avatar

    MyVirtualCPA

    CPA, CMA, CFE

    Positive Feedback:

    97.4 %

    Satisfied Customers:

    591
    TN CPA with Master's degree from Ole Miss
  • http://ww2.justanswer.com/uploads/starside8/2010-2-16_55433_DSCN1175.JPG Eric's Avatar

    Eric

    Financial Manager

    Positive Feedback:

    98.7 %

    Satisfied Customers:

    557
    Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.
  • http://ww2.justanswer.com/uploads/FA/fastfile/2011-12-15_23139_Klein2011small.64x64.jpg fastfile's Avatar

    fastfile

    Accountant

    Positive Feedback:

    95.8 %

    Satisfied Customers:

    363
    Intuit Ask a Tax Expert. QuickBooks Certified Pro Advisor (all editions)
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry Esquire's Avatar

    Dimitry Esquire

    Attorney

    Positive Feedback:

    100.0 %

    Satisfied Customers:

    302
    NASD Licensed Rep, 1997-2001, Business Attorney