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What is the cost of the land for eggplant company

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Reference no: EM132776720

EGGPLANT COMPANY incurred the following expenditures in 2017:

Purchase of land P 3,900,000

Land survey 52,000

Fees for search of title for land 6,000

Building permit fee 35,000

Temporary quarters for construction crews 107,500

Payments to tenants of old building for vacating premises 46,000

Cost to demolish old building 470,000

Excavation of basement 100,000

Special assessment for street project 20,000

Dividends 50,000

Damages awarded for injuries sustained in construction (no insurance carried) 84,000

Cost of construction 9,000,000

Cost of paving parking lot adjoining building 400,000

Cost of shrubs, trees, and other landscaping 330,000

A portion of the building site had been temporarily used by EGGPLANT to operate a car park while the building was being constructed. A total of P162,500 was earned by EGGPLANT from this incidental activity.

Question 1. What is the cost of the land?

Question 2. What is the total cost of the land improvement?

Question 3. What is the cost of the building?

Reference no: EM132776720

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