Question: Hello! please answer all parts to the question clearly please its sometimes hard to understand the experts please thank you! provide the answer TO EACH
57 pints ellook Hint Print References On March 1, 2021, Beldon Corporation purchased land as a factory site for $77,000. An old building on the property was demolished, and construction began on a new building that was completed on December 15, 2021. Costs incurred during this period are listed below: Demolition of old building Architect's fees (for new building) Legal fees for title investigation of land Property taxes on land (for period beginning March 1, 2021) Construction costs Interest on construction loan $ 7,500 16,000 4,000 4,700 670,000 8,500 Salvaged materials resulting from the demolition of the old building were sold for $3,700. Required: Determine the amounts that Beldon should capitalize as the cost of the land and the new building
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
