Capitalized cost of land Assignment | College Homework Help

10 Homework Saved Help Save & Exit Check my On March 1, 2018, Beldon Corporation purchased land as a factory site for $76,000. An old building on the property was demolished, and construction began on a new building that was completed on December 15, 2018 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, 2018) Construction costs Interest on construction loan $ 7.000 15,000 3,500 4,600 560,000 8.000 ences Salvaged materials resulting from the demolition of the old building were sold for $3,600. Required: Determine the amounts that Beldon should capitalize as the cost of the land and the new building MIVU UUL UCIUUI SIUUIU Capildilze Complete this question by entering your answers Cost of Land Cost of New Building Determine the amounts that Beldon should capitalize as th with a minus sign.) Capitalized cost of land: Inces Total cost of land Determine the amounts that Beldon should capitalize as the cost of the land and the Complete this question by entering your answers in the tabs below. Cost of Land Cost of New Building Determine the amounts that Beldon should capitalize as the cost of the new building. Capitalized cost of building: Total cost of building < Cost of Land Prey 1 of 14 !!! Next > Get Accounting homework help today