Problem $10-2($Algo$)$ Acquisition costs; land and building $[$LO$10-1,10-2,10-7]$

On January $1,2024,$ the Blackstone Corporation purchased a tract of land $($site number $11)$ with a building for $$780,000.$ Additionally, Blackstone paid a real estate broker's commission of $$54,000,$ legal fees of $$5,000,$ and title insurance of $$27,000.$ The closing statement indicated that the land value was $$590,000$ and the building value was $$190,000.$ Shortly after acquisition, the building was razed at a cost of $$93,000.$

Blackstone entered into a $$4,800,000$ fixed$-$price contract with Barnett Builders, Incorporated, on March $1,2024,$ for the construction of an office building on land site $11.$ The building was completed and occupied on September $30,2025.$ Additional construction costs were incurred as follows:

Plans, specifications, and blueprints $$30,000$

Architects' fees for design and supervision $102,000$

To finance the construction cost, Blackstone borrowed $$4,800,000$ on March $1,2024.$ The loan is payable in $10$ annual installments of $$480,000$ plus interest at the rate of $14\%.$ Blackstone's average amounts of accumulated expenditures were as follows:Required:

Prepare a schedule that discloses the individual costs making up the balance in the land account in respect of land site $11$ as of September $30,2025.$

Prepare a schedule that discloses the individual costs that should be capitalized in the office building account as of September $30,2025.$

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Required $1$

Prepare a schedule that discloses the individual costs making up the balance in the land account in respect of land site $11$ as of September $30,2025.$

$\backslash$table$[[$BLACKSTONE CORPORATION$],[,$Land Account $($Site Number $11)],[$As of September $30,2025,],[,],[,],[,],[,],[,],[,]]$