BUS $212-$ FINANCIAL REPORTING AND ANALYSIS $/$ HANDOUT $2$

Q$1.$ Oslo Company began operation on January $1$ of the current year. At the end of the year, the company's auditor discovered that all expenditures involving long$-$term assets debited to an account called Fixed Assets. An analysis of the account, which had a year$-$end balance of $$2,644,972,$ disclosed that it contained the following items:

Cost of land

Surveying costs

Transfer of title and other fees required by the county

Broker's fees for land

Attorney's fees associated with land acquisition

Cost of removing unusable timber from land

Cost of grading land

Cost of digging building foundation

Architect's fee for building and land improvements $(80$ percent building$)$

Cost of building construction

Cost of sidewalks

Cost of parking lots

Cost of lighting for grounds

Cost of landscaping

Cost of machinery

Shipping cost on machinery

Cost of installing machinery

Cost of testing machinery

Cost of changes in building to comply with safety regulations pertaining to machinery

Cost of repairing building that was damaged in the installation of machinery

Cost of medical bill for injury received by employee while installing machinery

Cost of water damage to building during heavy rains prior to opening the plant for operation Account balance

$\backslash$table$[[$$$316,600$