Provincial Manufacturing incurred the following costs in acquiring land, making land improvements, and constructing and furnishing a new building:

Provincial Manufacturing depreciates buildings over 30 years, land improvements over 20 years, and furniture over 8 years, all on a straight-line basis with zero residual value.
Requirements
1. Set up columns for Land, Land Improvements, Building, and Furniture. Show how to account for each cost by listing the cost under the correct account. Determine the total cost of each asset.
2. All construction was complete and assets were placed in service on September 1.
Record partial-year depreciation for the year ended December 31.

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a. Purchase price of four hectares of land. b. Additional dirt and earthmoving . c. Fence around the boundary of the property. d. Attorney fee for title search on the land. e. Unpaid property taxes on the land to be paid by Provincial. f. Company signs at the front of the property g. Building permit for the building . h. Architect's fee for the design of the building i. Labour to construct the building . j. Materials used to construct the building k. Landscaping . I. Parking lot and concrete walks. m. Lights for the parking lot and walkways . n. Salary of construction supervisor (85% to building; 15% to parking lot and concrete walks). o. Furniture for the building . p. Transportation and installation of furniture.. $193,000 9,400 17,500 1,100 5,900 4,700 2,100 20,900 498,000 400,000 6,700 29,100 11,000 60,000 106,000 2,000