Homework: Homework Chapter 9 Save 6 of 6 (0 complete) HW Score: 0%, 0 of 100 pts Score: 0 of 50 pts -9-30A (similar to) Question Help Perfect Parking near an airport, incurred the following costs to acquire land, make land improvements, and construct and furnish a small building: (Click the icon to view the financial data.) Perfect Parking depreciates land improvements over 20 years, buildings over 50 years, and furniture over 8 years, all on a straight-line basis with zero residual value. Read the requirements Requirement 1. Columns for Land, Land Improvements, Building, and Furniture have been set up. Show how to account for each cost by listing the cost under the correct account. Determine the total cost of each asset. Begin by listing each cost for items a through i. first, followed by Roms), through a. Then determine the total cost of each asset. (If a box is not used in the table, leave the box empty, do not enter a zero.) Land Improvements Item Land Building Furniture Enter any number in the edit fields and then click Check Answer. 3 parts S remaining Clear All Check Answer i Data Table $ 86,000 6,000 8,200 3,400 9,900 400 Imp a. Purchase price of three acres of land b. Delinquent real estate taxes on the land to be paid by Perfect Parking 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 g. Architect's fee for the design of the building h. Signs near the front of the property I. Materials used to construct the building 1. Labor to construct the building k. Interest cost on construction loan for the building I. Parking lots on the property m. Lights for the parking lots n. Salary of construction supervisor (75% to building: 25% to parking lot and concrete walks) 20,300 9,600 218,000 165,000 9,400 29,700 10,300 60,000 dit fields Print Done Che Data Table 8,200 3,400 9,900 400 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 g. Architect's fee for the design of the building h. Signs near the front of the property I. Materials used to construct the building j. Labor to construct the building k. Interest cost on construction loan for the building 1. Parking lots on the property m. Lights for the parking lots n. Salary of construction supervisor (75% to building; 25% to parking lot and concrete walks) o. Furniture P. Transportation of furniture from seller to the building q. Additional fencing 20,300 9,600 218,000 165,000 9,400 29,700 10,300 60,000 11,600 2,700 6,100 Print Done 6 of 6 (0 complete) the following costs to acquire land, make Perfect Parking depreciates land improveme nish a small building: years, and furniture over 8 years, all on a str ata.) value. Read the requirements Improvements, Building, and Furniture have been set up. Show how to account for each of each asset. 0 Requirements 1. Columns for Land, Land Improvements, Building, and Furniture have been set up. 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 October 1. Record partial-year depreciation for the year ended December 31. Round to the nearest dollar. Print Done