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Lavallee Self Storage purchased land, paying $180,000 cash as a down payment and signing a $150,000 note payable for the balance. Lavallee also had to
Lavallee Self Storage purchased land, paying $180,000 cash as a down payment and signing a $150,000 note payable for the balance. Lavallee also had to pay delinquent property tax of $4,000, title insurance costing $1,500, and $11,000 to level the remove an unwanted building. The company paid $59,000 to add soil for the foundation and then constructed an office building at a cost of $750,000. It also paid $49,000 for a fence around the property, $21,000 for the company sign near the property and $3,000 for lighting of the grounds. Read the requirement. i X - Requirement The cost of the land is SL 1. What is the capitalized cost of each of Lavallee's land, land improvements, and building? Print Done
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