Question

Ayayai Corp.purchased land adjacent to its plant to improve access for trucks making deliveries. Expenditures incurred in purchasing the land were as follows: purchase price, $57,000; broker's fees. $6,190; title search and other fees, $5,420; demolition of an old building on the property, $6,170; grading. $1,210, digging foundation for the road, $3,330; laying and paving driveway, $25,000; lighting $7,880; signs, $1,750. List the items and amounts that should be included in the Land account.

Answer 1

$57000 $ 6190 $ 5420 fee purch ase vile Broker's fee titte search ae other Demolition of an old prope - grading $6170 $1210 cost of land. 75990 * Expenditures ready for of land incurred to make the use are included in (and cost