On January $1,2020,$ Nash Corporation purchased for $$740,000$ a tract of land $($site number $101)$ with a building. Nash paid a real

estate broker's commission of $$53,280,$ legal fees of $$8,880,$ and title guarantee insurance of $$26,640.$ The closing statement indicated

that the land value was $$740,000$ and the building value was $$148,000.$ Shortly after acquisition, the building was razed at a cost of

$$79,920.$

Nash entered into a $$4,440,000$ fixed$-$price contract with Slatkin Builders, Inc. on March $1,2020,$ for the construction of an office

building on land site number $101.$ The building was completed and occupied on September $30,2021.$ Additional construction costs

were incurred as follows.

Plans, specifications, and blueprints

$$31,080$

Architects' fees for design and supervision

$121,360$

The building is estimated to have a $40-$year life from date of completion and will be depreciated using the $150\%$ declining$-$balance

method.

To finance construction costs, Nash borrowed $$4,440,000$ on March $1,2020.$ The loan is payable in $10$ annual installments of

$$444,000$ starting on March $1,2021,$ plus interest at the rate of $10\%.$ Nash's weighted$-$average amounts of accumulated building

construction expenditures were as follows.

For the period March $1$ to December $31,2020$

For the period January $1$ to September $30,2021$

$2,812,000$

Prepare a schedule that discloses the individual costs making up the balance in the land account in respect of land site number

$101$ as of September $30,2021.$

NASH CORPORATION

Cost of Land $($Site #$101)$

As of September $30,2021$Real Estate Broker's Commission

eTextbook and Media

Prepare a schedule that discloses the individual costs that should be capitalized in the office building account as of September $30,$

NASH CORPORATION

Cost of Building

As of September $30,2021$