P10-30A (similar to) Park and Go, near an airport, incurred the following costs to acquire land, make land improvements, and construct and furnish a small building: (Click the icon to view the financial data.) Park and Go depreciates land improvements over 15 years, buildings over 30 years, and furniture over 12 years, all on a straight-line basis with zero residual value Requirements 1. Show how to account for each cost by listing the cost under the correct account. Determine the total cost of each asset. 2. All construction was complete and the assets were placed in service on June 1. Record partial-year depreciation for the year ended December 31. Requirement 1. Show how to account for each cost by listing the cost under the correct account. Determine the total cost of each asset. Begin by listing each cost for items a through i. first, followed by itemsj. through q. Then determine the total cost of each asset. (Leave any unused cells blank.) Land Item Land Improvements Building Furniture Data Table b. a Purchase price of three acres of land $ 88,000 d. 5.500 8.900 f. g 3.500 h. 9.800 i. f. 1.100 20.400 9.400 i. Delinquent real estate taxes on the land to be paid by Park and Go C. Additional dirt and earthmoving d. Title insurance on the land acquisition Fence around the boundary of the property Building permit for the building 9. Architect's fee for the design of the building h. Signs near the front of the property Materials used to construct the building Labor to construct the building Interest cost on construction loan for the building 1. Parking lots on the property m. Lights for the parking lots Salary of construction supervisor (80% to building: 20% to parking lot and concrete walks) Furniture Transportation of furniture from seller to the building 9. Additional fencing 217.000 169.000 J. k. 9.200 29.800 11.100 n 70.000 11.700 2.200 6.000 Print Done Enter any number in the edit fields and then click Check Answer. narts