Question

Bozeman Systems purchased land, paying $ 80,000 cash as a down payment and signing a $ 120,000 note payable for the balance. In addition, Bozeman Systems paid delinquent property tax of $ 2,100, title insurance costing $ 2,500, and a $ 10,400 charge for leveling the land and removing an unwanted building. The company constructed an office building on the land at a cost of $ 800,000. It also paid $ 51,000 for a fence around the property, $ 15,000 for the company sign near the entrance, and $ 6,000 for special lighting of the grounds.
Requirements
1. Determine the cost of the company’s land, land improvements, and building.
2. Which of the assets will Bozeman depreciate?


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  • CreatedJuly 08, 2015
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