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i need help. please show work so i understand how to do it. thank you The following costs were incurred by Imports Auto Parts in
i need help. please show work so i understand how to do it. thank you
The following costs were incurred by Imports Auto Parts in connection with the construction of a retail store building: Cost of land, including $18,800 of legal costs Cost to demolish old building Costs of grading land for building site Costs related to building construction Legal costs relating to building permits Costs of paving parking lot $380,000 18,650 11,000 930,000 16,925 98,000 Required: 1 & 2. What are the capitalized costs of the land and the new building? Retail Building Land $ 380,000 18,650 11,000 Purchase price of land Demolition cost of old building Cost to level building site Cost to construct building Legal costs related to building Costs of paving parking lot Total capitalized cost $1,339,650 $ 0 Step by Step Solution
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