LO 1,2, 3 P7-67A. (Learning Objectives 1, 2, 3: Measure and account for plant assets; distinguish a capital expenditure from an expense; measure and record depreciation) Becker Supply, Inc. opened an office in White Bear Lake, Minnesota. Becker incurred the following costs in acquir- ing land, making land improvements, and constructing and furnishing the new sales building: a. Purchase price of land, including an old building that will be used for a garage (land market value is $310,000; building market value is $90,000) b. Grading (leveling) la c. Fence around the land d. Attorney fee for title search on the land c. Delinquent real estate taxes on the land to be paid by Becker Supply f. Com S340,000 8,800 31,400 1,100 5,800 1,900 pany signs at entrance to the property h. Architect fee for the design of the sales building i. Masonry, carpentry, and roofing of the sales building i. Renovation of the garage k. Interest cost on construction loan for sales building L. Landscaping (trees and shrubs m. Parking lot and concrete walks on the property n. Lights for the parking lot and walkways o. Salary of construction supervisor (84% to sales building; 10% 87,800 518,000 37,100 9,900 6,100 52,200 7,500 to land improvements; and 6% to garage building renovations) p. Office furniture for the sales building q. Transportation and installation of furniture 40,000 79,000 1,000 The company depreciates buildings over 30 years, land improvements over 15 years, and furniture over 12 years, all on a straight-line basis with residual values of zero. Requirements 1. Identify the proper account (Land, Land Improvements, Sales Building. Garage Building, or Furniture) for each of the costs listed in the problem. Calculate the total cost of each asset