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S 8-2 Assigning Costs to plant assets LO C1 Listed below are costs (or discounts) to purchase or construct new plant assets. Indicate whether the
S 8-2 Assigning Costs to plant assets LO C1 Listed below are costs (or discounts) to purchase or construct new plant assets. Indicate whether the costs should be expensed or capitalized (included in the cost of the plant assets on the balance sheet.) For costs that should be, indicate in which category of plant assets (Equipment, Building, or Land) the related costs should be recorded on the balance sheet Event List 1 Costs to install necessary lighting in a new building 2 Costs to clear and grade land purchased for a new plant 3 Brokerage fees incurred to purchase a new plant warehouse 4 Attorney fees incurred to complete the purchase documents for a new plant warehouse 5 Costs charged by a contractor to install new equipment into the production line 6. Fees to perform necessary tests of new equipment 7 Costs to pay a crew to test new equipment for a day to ensure it was working properly 8 Sales tax on new equipment purchased Category a new plant warehouse production line Capitalized Building was working properly Capitalized Equipment Capitalized Land - Expensed
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