Park and Fly Parking, near an airport, incurred the following costs to acquire land, make land improvements, and construct and furnish a small building:

Park and Fly Airport Parking depreciates land improvements over 15 years, buildings over 30 years, and furniture over 8 years, all on a straight-line basis with zero residual value.
Requirements
1. Set up columns for Land, Land Improvements, Building, and Furniture. Show how to account for each cost by listing the cost under the correct account. Determine the total cost of each asset.
2. All construction was complete and the assets were placed in service on September 1. Record partial-year depreciation for the year ended December 31.

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a. Purchase price of 3 acres of land.... b. Delinquent real estate taxes on the land to be paid by Park and Fly ... c. Additional dirt and earthmoving d. Title insurance on the land acquisition e. Fence around the boundary of the property f. Building permit for the building. $ 86,000 5,700 8,400 3,400 9,300 1,200 g. Architect's fee for the design of the building 23,200 h. Signs near the front of the property 9,200 i. Materials used to construct the building.. 217,000 j. Labor to construct the building 169,000 k. Interest cost on construction loan for the building 9,100 1. Parking lots on the property. 29,500 m. Lights for the parking lots 10,400 n. Salary of construction supervisor (80% to building; 20% to parking lot and concrete walks) 60,000 o. Furniture .... 11,900 p. Transportation of furniture from seller to the building q. Landscaping (shrubs) 2,700 6,400