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The following expenditures were incurred by Danni Enterprises Co. in 2021: Determine the cost of each of the following: a. Land b. Land improvements c.
The following expenditures were incurred by Danni Enterprises Co. in 2021:
Determine the cost of each of the following:
a. Land
b. Land improvements
c. building
Purchase of land Land survey Fees for search of title for land Building permit Temporary quarters for construction crews Payment to tenants of old building for vacating premises Razing old building Excavating basement Special assessment tax for street project Dividends Damaged awarded for injuries sustained in construction (no insurance was carried) Costs of construction Cost of paving parking lot adjoining building Cost of shrubs, trees and other landscaping P3,900,000 52,000 6,000 35,000 107,500 46,000 470,000 100,000 20,000 50,000 84,000 29,000,000 400,000 330,000Step by Step Solution
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