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Ivanhoe Enterprises incurred several costs related to the acquisition of plant assets. Purchase price of land and dilapidated building $280800 Real estate broker's commission 18360
Ivanhoe Enterprises incurred several costs related to the acquisition of plant assets.
Purchase price of land and dilapidated building | $280800 | |
Real estate broker's commission | 18360 | |
Demolition costs of dilapidated building | 23760 | |
Architect's fees and building permits | 25920 | |
Payments to contract for building construction | 939600 | |
Purchase of new furniture and equipment | 79920 | |
Actual interest costs during building construction | 145800 | |
Actual interest cost after completion of building construction | 129600 | |
Costs of walks, driveways, and parking lot | 59400 |
At what amount should the building be recorded in Ivanhoes accounting records?
$965520
$1135080
$1111320
$939600
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