1) What items are included as part of the construction cost of an asset? 2) What items would not be included as part of the cost of an asset? 3) In the case of land purchased for the purpose of building a new office for business use, if the cost was $90,000, other costs were $2,500 for construction plans, $1,050 for a fence around the land, $4,750 for the installation of electrical installations, $1,250 for hiring a security guard, $3,450 for a "shot" of gravel and tar, $2,000 for the State Insurance Fund policy and $5,000 for permits from the municipality of Bayamn , and on the other hand we sold some debris for $1,500 that already existed on that land, when would the cost be recorded as the total cost of the land? Assuming that $20,000 was contributed to the land purchase and the rest was financed, make the journal entries corresponding to the above situation presented. Also assume that a small building was built simultaneously whose costs including permits, materials, labor, building permits and others totaled $45,000, what would the cost of that building be? And what would be the daily income for it? Referring to the previous table, why should the entrances of the land and the building be made separately?