Fall 2023-BUS2101 - Chapter 8 Homework Homework should always be hand-written (do not type). You are encouraged to use journal paper for journal entries (Questions 6 through 8). Colors are optional, but encouraged, for this homework. Question 1) On March 1, 2023, Desmond Company acquired real estate, on which it planned to construct a small office building, by paying $101,000 in cash. An old warehouse on the property was demolished at a cost of $28,288; the salvaged materials were sold for $5,787. Additional expenditures before construction began included $1,009 attorney's fee for work concerning the land purchase, $5,200 real estate broker's fee associated with the land, $9,100 architect's fee, and $17,000 to put in driveways and a parking lot. Building [unt improvement) Instructions: A) Determine the amount to be reported as the cost of the land. B) For each cost not used in part (a), indicate the account to be debited.

Fall 2023 - BUS2101 - Chapter 8 Homework Homework should always be hand-written (do not type). You are encouraged to use journal paper for journal entries (Questions 6 through 8). Colors are optional, but encouraged, for this homework. Question 1) On March 1, 2023, Desmond Company acquired real estate, on which it planned to construct a small office building, by paying $101,000 in cash. An old warehouse on the property was demolished at a cost of $28,288; the salvaged materials were sold for $5,787. Additional expenditures before construction began included $1,009 attorney's fee for work concerning the land purchase, $5,200 real estate broker's fee associated with the land, $9,100 architect's fee, and $17,000 to put in driveways and a parking lot. Instructions: imtimprovement) A) Determine the amount to be reported as the cost of the land. B) For each cost not used in part (a), indicate the account to be debited. Mimushiner: locups, and will have a Tycier liff hactras ow: for this machios in 2024 ? in 2018 ? miles, Situge value if expected to be 55mol 2024,52,000; 2025. 41,000, and 2026, 27,600