requirements :

1. Columns for land, land improvements, building, and furniture have been set up. 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 October 1. Record partial year depreciation for the year ended December 31. Round to the nearest dollar .

P936B (similar to) Question Help Park and Fly, near an airport, incurred the following costs to acquire land, make land improvements, and construct and furnish a small building: Park and Fly depreciates land improvements over 25 years, buildings over 40 years, and furniture over 12 years, all on a straight-line basis with zero residual value. (Click the icon to view the financial data.) Read the requirements Requirement 1. Columns for Land, Land Improvements, Building, and Furniture have been set up. 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 items j. through q. Then determine the total cost of each asset. (If a box is not used in the table, leave the box empty: do not enter a zero.) Land Building Item a. b. C. d. e. Land Improvements Furniture 2013(o complete) Data Table a. Purchase price of three acres of land b. Delinquent real estate taxes on the land to be paid by S 90,000 Park and Fly c Additional dirt and earthmoving d Title insurance on the land acquisition e Fence around the boundary of the property 5.600 8,800 3 600 9 800 Buildina permit for the building 100 - Print Done 2 of 3 (0 complete) Data Table f. Building permit for the building g. Architect's fee for the design of the building h. Signs near the front of the property i. Materials used to construct the building i. Labor to construct the building k. Interest cost on construction loan for the building I. Parking lots on the property 1,100 20,600 9,000 213,000 165,000 9,100 29.300 Print Done 2 of 3 (0 complete) Data Table 29,300 11,100 80,000 L. m. n. Parking lots on the property Lights for the parking lots Salary of construction supervisor (80% to building: 20% to parking lot and concrete walks) o Furniture p. Transportation of fumiture from seller to the building q Additional fencing 11.300 2 600 6200 Print Done