Homework: Week Nine: Chapter 9: Problems Score: 0 of 1 pt P10-30A (similar to) Perfect Parking, near an airport, incurred the following costs to acquire land, make land improvements, and construct and furnish a small building 1 of 6 (0 complete) (Click the icon to view the financial data) Perfect Parking depreciates land improvements over 20 years, buildings over 40 years, and furniture over 8 years, all on a straight-line basis with zero residual value Requirements 1. 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 August 1. Record partial-year depreciation for the year ended December 31 Begin by listing each cost for items a. through i. first, followed by items j through q. Then determine the total cost of each asset. (Leave any unused cells blank.) Land BuildingFu Furniture Item Land a. Enter any number in the edit fields and then click Check Answer. Clear All parts O Type here to search ,en] w1 @ a. Purchase price of three acres of land 87,000 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. Sians near the front of the propertv 5,900 8,800 3,500 9,100 700 20,000 9.400 Print Done Materials used to construct the building j. 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 (85% to building: 15% 215,000 170,000 9,300 29,500 11,400 40,000 11,900 2.700 to parking lot and concrete walks) o. Furniture Transportation of furniture from seller to the buildina Print Done k. Interest cost on construction loan for the building L. Parking lots on the property m. Lights for the parking lots n. Salary of construction supervisor (85% to building: 15% 9,300 29,500 11,400 to parking lot and concrete walks) o. Furniture p. Transportation of furniture from seller to the building q. Additional fencing 40,000 11,900 2,700 6,500 Print Done