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6 7 9 11 12 6 8 10 13 4 2 14 5 3 15 16 Return to course Finish attempt .... eBook Question 1 Answer saved Marked out of 2.00 P Flag question Determining Amount of PP&E to Capitalize Williams Corporation purchased an old building and the land on which it is located for $250,000. The old building will be demolished at a net cost of $7,500. A new building will be built on the site. Williams also incurred the following costs: closing fees including commission of $15,000, and title insurance costing $1,250. Williams assumed property taxes for the 6 months prior to the purchase totaling $5,000. Determine the amount Williams should capitalize for land and building related to the purchase. Total amount to capitalize for land $ Total amount to capitalize for building $ 0 0 Save Answers Next >> 28 MacBo