Solution-List the items and amounts that make up the land

List the items and amounts that make up the land account

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Reference no: EM133115533

Question - Entity A incurred the following plant asset expenditures in during the year.

1. Real estate purchased as plant site (land $190,000 and building $80,000) $270,000

2. Accrued real estate taxes (owed by seller) paid at time of purchase of real estate 6,000

3. Cost of demolition of building to make land suitable for construction of new building 32,000

4. Cost of filling and grading the land 6,700

5. Excavation costs for new building 21,900

6. Architect's fees on new building plans 44,000

7. Full payment to building contractor 629,500

8. Cost of parking lots, driveways, landscaping 36,000

9. Proceeds from salvage of demolished building 12,700

Required - List the items and amounts that make up the Land account. Be sure to provide a total.

Reference no: EM133115533

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List the items and amounts that make up the land account

Reference no: EM133115533

Reference no: EM133115533

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