Determining Ending Balances in Land and Building Accounts Maldive Company completes the construction of a building. The following separate items are the costs relevant to the purchase of the lot and construction of the building. $60,000 1,800 30,000 12,000 1,000 Cash payments to contractor Costs of constructing foundation Cost of land (building site) Gross cost to rare old building on land Proceeds from old building salvage Utility charges for electricity used in construction capitated interest on construction 1,200 1,800 Determine the ending balance for (1) the Land account and for (2) the Building account. Ending balance in the Land account Ending balance in the Building account 0 0