On March 1, 2024, Beldon Corporation purchased land as a factory site for $60,000. An old building
Question:
On March 1, 2024, Beldon Corporation purchased land as a factory site for $60,000. An old building on the property was demolished, and construction began on a new building that was completed on December 15, 2024. Costs
incurred during this period are listed below:
Salvaged materials resulting from the demolition of the old building were sold for $2,000.
Required:
Determine the amounts that Beldon should capitalize as the cost of the land and the new building.
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Capitalized cost of land Purchase price 60000 Demolition of old build...View the full answer
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