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Need help with questions. Thank you 1. All of the following costs would be included in the land account except: a. costs to grade the

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1. All of the following costs would be included in the land account except: a. costs to grade the land to build on. b. the cost of building a parking lot on the land. c. the cost of a title search to verify clear title before purchase. d. the cost of tearing down an old building to prepare the land to build on 2. Compton Contractors acquired a used storage building that was in poor physical condition due to inadequate maintenance and vandalism. Before placing the building in use, Compton spent several thousand dollars replacing broken windows, painting the building, and installing new support beams. These fix-up expenditures should be recorded by debiting which of the following accounts? a. Repair Expense c. Building b. Accumulated Depreciation, Building d. Land Improvements 3. A company purchases land and a building on the land. The land is appraised at $80,000, and the building at $120,000. If the cost of the property is $180,000 in total, then the portion of the cost allocable to the land is: a. $84,210 c. $72,000 b. $105,790 d. $114,000 Information for questions 4-7: On January 1, Hanson's Deli purchases for $30,000 a delivery truck that will be driven an estimated 100,000 miles. The truck has an estimated useful life of ten years and an estimated salvage value of $6,000. Hanson's fiscal year is the calendar year. Calculate the amounts requested below. 4. The total accumulated depreciation after the truck has been used for 4 years, using the straight-line method would be: a. $4,800 c. $6,800 b. $12,800d. 89,600 Using the production method, compute the depreciation expense for a year in which the truck was driven 20,000 miles. a $1,200 c. $4,800 b. S6,400 d. $1,600 S

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