Airport Parking incurred the following costs to acquire land, make land improvements, and construct a small building. Select from the dropdown menu how each cost is to be classified as either Land, Land improvements, building, or other. Purchased three acres of land Paid delinquent real estate taxes on the land Additional dirt and bulldozing Title acquisition on the land acquisition Fence around the perimeter of the property Pavement of parking lot Lighting for the parking lot Building permit for the building Architect's fees for the design of the building Materials and labor to construct the building Shrubs and landscaping Cost of razing and removing an unwanted building on the purchased land
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
Airport Parking incurred the following costs to acquire land, make land improvements, and construct a small building. Select from the dropdown menu how each cost is to be classified as either Land, Land improvements, building, or other.
Purchased three acres of land
Paid delinquent real estate taxes on the land
Additional dirt and bulldozing
Title acquisition on the land acquisition
Fence around the perimeter of the property
Pavement of parking lot
Lighting for the parking lot
Building permit for the building
Architect's fees for the design of the building
Materials and labor to construct the building
Shrubs and landscaping
Cost of razing and removing an unwanted building on the purchased land
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