Question: can you answer this question for me please ? Purchase of a Vineyard (parts 1-2 only) Your client has just purchased land on which it

can you answer this question for me please ?

Purchase of a Vineyard (parts 1-2 only) Your client has just purchased land on which it intends to build a vineyard. In doing so, the client incurs the following costs: land surveys, costs of leveling the land, installation of fencing and the installation of a sprinkler system. 1. Educate your client on how the Codification differentiates between permanent land development costs vs. limited-life land development costs. Review the Glossary under ASC 905-360 for support. 2. Refer to industry guidance in the Codification to determine whether the costs listed below (a through d) should be capitalized and whether they should be depreciated. Hint: Research ASC 905-360 specifically as it relates to recognition and subsequent measurement. List in the following order: a. Land surveys b. Costs of leveling the land c. Installation of fencing d. Installation of a sprinkler system

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