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Please answer. refer to the image. it is all complete questions. all you have to is to answer. Please show solutions in every answer. 10.

Please answer. refer to the image. it is all complete questions. all you have to is to answer.

Please show solutions in every answer.

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10. In 2015, FIE Company constructed a new building incurred the following: Excavation fees P120,000 Architecture design fees 50,000 Building permit fees 50,000 Imputed interest [on funds used in oonstructionstoclt financing] 20,000 Cost of removal of old building 50,000 Labor costs 150,000 Overhead oosts 50,000 Materials used 500,000 Profit on selfconstruction 100,000 Safety inspection costs prior to use 25,000 IQuestion: The amount initially recorded as the cost of the building is? 11. The following expenditures were incurred by Gold Company during 2012 0 Cost of real estate purchased as a plant site [land P4315000 and building P2,5000] 500,000 - Delinquent property taxes assumed by Gold Company 40,000 i Commission fees paid to real estate agency 15,000 i Cost of demolishing old building 30,000 i Proceeds from salvage of demolished building 5,000 i Cost of land fill and clearing 315,000 0 Land survey 40,000 i Building permit 20,000 - Excavation costs 30,000 i Temporary quarters for oonstruction crews 15,000 i Installation of fences around the property 40,000 i Cost of paving the driveways and parking bays 20,000 i Interest paid on money borrowed for construction 20,000 0 Payment for construction of building 1,200,000 i lnsuranoe premium on building during construction 120,000 0 Opening ceremony oosts of new building 50,000 Questions: Identify the costs to be charged as: a. Land =? b. Land Improvements =? c. Building 2? d. Charged in Prot or Loss =

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