Question
Montreal Moving Company has incurred the following amounts to acquire a piece of land, to make some improvements, to buy a warehouse and some furniture
Montreal Moving Company has incurred the following amounts to acquire a piece of land, to make some improvements, to buy a warehouse and some furniture to furnish this warehouse: a. Building located on this lot and will be used as the head office $70,000 b. A fence to set the property bounderies $31,600 c. Legal costs associated with finding the land $1,000 d. Overdue property taxes $7,500 e. Company logo in front of the head office $3,400 f. Construction permit for the warehouse $1,500 g. Architect fee for the design of the warehouse $24,500 h. Bricklaying, frame, roofing and other manpower for the building of the warehouse $920,000 i. Renovation of the building which will be used as the head office $50,200 j. Landscaping (trees and shrubs) $8,200 k. Parking facilities and sidewalks $57,600 l. Concrete, wood and other supplies for the building of the warehouse $234,300 m. Salary (warehouse site supervisor) $60,000 n. Office furniture $115,700 o. Office furniture transportation and installation $2,300 p. Land $280,000 q. Office supplies $32,200 Total costs $1,900,000 Using the above information, please answer the following questions: What is the amount in the asset for: 1. The land? 2. The improvements made to the land? 3. The warehouse? 4. The office furniture?
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