ohy Furniture purchased land, paying

$85,000

cash and signing a

$350,000

r 00 , and

$8,000

to level the land and remove an unwanted building. The comp ind the property,

$20,000

for a sign near the entrance, and

$7,000

for special

d

the requirements.\ quirement 1. Determine the cost of the land, land improvements, and building.\ cost of the land is\ e total cost of the land improvements is\ le cost of the building is\ quirement 2. Which of these assets will Murphy depreciate?\ urphy will depreciate

ohy Fumiture purchased land, paying $85,000 cash and signing a $350,000 n 00 , and $8,000 to level the land and remove an unwanted building. The comp ind the property, $20,000 for a sign near the entrance, and $7,000 for special d the requirements. quirement 1. Determine the cost of the land, land improvements, and building. cost of the land is e total cost of the land improvements is cost of the building is quirement 2. Which of these assets will Murphy depreciate? urphy will depreciate