Question

Can somebody please help me wirh this?

Name: Instructor: Intermediate Accounting. 15 Edition by Kieso, Weygandt, and Warfield Date: Course: E10-2 (Acquisition Costs of Realty) Martin Buber Co. purchased land as a factory site for $400,000The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid sold salvaged lumber and brick for were paid for title investigation and drawing the purchase contract. Martin Buber paid to an engineering firm for a land survey, and$68,000 for drawing the factory plans. The land survey had to be made before definitive plans could be drawn. Title insurance on the property cost $42.000 to raze the old buildings and Legal fees of $1,850 $2,200 $1,500 and a liability insurance premium paid during construction was 900 The contractor's charge for construction was installments: $1.200,000 completion. Interest costs of 170,000 Iwere incurred to finance the construction. $2,740,000 The the contractor in two at the end of three months and $1.540,000 Jupon Determine the cost of the land and the cost of the building as they should be recorded on the books of Martin Buber Co. Assume that the land survey was for the building. Land Building Amount Amount Amount Amount Text Title Text Title Less: Salvage Text Title Text Title Text Title Text Title Text Title Text Title Text Title Amount Amount Amount Amount Amount Amount Formula Formula

Answer 1

Particulars	Land	Building
Land acquisition cost	400000
Raze expense	42000
Less : Salvage	(6300)
Legal Fees	1850
Engineering Consultancy		2200
Architect fees		68000
Insurance	1500	900
Construction Cost		2740000
Interest Cost		170000
Total Cost	439050	2981100