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A company purchased a building on January 1, 2024, for $257,000. In addition, during 2024 the following costs related to the building have been incurred:
A company purchased a building on January 1, 2024, for $257,000. In addition, during 2024 the following costs related to the building have been incurred:
Utilities | $ 19,000 |
---|---|
Property tax | 4,700 |
Expansion of the building | 60,000 |
New air-conditioning system | 35,000 |
General maintenance | $ 26,000 |
The total amount of the expenditures that should be capitalized for the year (not including the initial purchase of the building) equals:
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