Question

Lynch Brothers manufactures conveyor belts. Early in January 2015, Lynch Brothers constructed its own building at a materials, labour, and overhead cost of $ 900,000. Lynch Brothers also paid for architect fees and building permits of $ 72,000.
Requirements
1. How much should Lynch Brothers record as the cost of the building in 2015?
2. Record Lynch Brothers’ transactions related to the construction of the building.


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  • CreatedJuly 08, 2015
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