nd and puilding. the land had to be cleared of trees and brush. Construction costs incurred during the first year are listed -1B The Italian Pizza Company purchased land as a factory site for $90,000. Prior to construction of the new Ihelow: Land clearing costs $ 5,000 Sale of firewood to a worker (400) Architect fees (for new building) 30,000 Title investigation of land 3,500 Property taxes on land (for the first year) 3,000 Building construction costs 400,000 1. Calculate amount capitalized to land and record the journal entry.

nd and puilding. the land had to be cleared of trees and brush. Construction costs incurred during the first year are listed -1B The Italian Pizza Company purchased land as a factory site for $90,000. Prior to construction of the new Ihelow: Land clearing costs $ 5,000 Sale of firewood to a worker (400) Architect fees (for new building) 30,000 Title investigation of land 3,500 Property taxes on land (for the first year) 3,000 Building construction costs 400,000 1. Calculate amount capitalized to land and record the journal entry.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter9: Acquisitions Of Property

Section: Chapter Questions

Problem 45P

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