Serenity Ski Co. has developed a tract of land into a ski resort. The company has cut

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Serenity Ski Co. has developed a tract of land into a ski resort. The company has cut the trees, cleared and graded the land and hills, and constructed ski lifts.
(a) Should the tree cutting, land clearing, and grading costs of constructing the ski slopes be debited to the land account?
(b) If such costs are debited to Land, should they be depreciated?

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Accounting

ISBN: 978-0324401844

22nd Edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

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