The demolition costs of an old building to clear the land for a possible future sale but DID NOT enhance the future economic benefits of the land is: included as cost of land included as cost of old building included as cost of new building recognized as expense

The demolition costs of an old building to clear the land for a possible future sale but DID NOT enhance the future economic benefits of the land is: included as cost of land included as cost of old building included as cost of new building recognized as expense

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion

Section: Chapter Questions

Problem 3DQ

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Question

The demolition costs of an old building to clear the land for a possible future sale but DID NOT enhance the future economic benefits of the land is:

included as cost of land

included as cost of old building

included as cost of new building

recognized as expense

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The demolition costs of an old building before a new building is constructed as: included as cost of land included as cost of old building included as cost of new building recognized as loss
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