Expenditures incurred in purchasing the land


Delong Corporation purchased land adjacent to its plant to improve access for trucks making deliveries. Expenditures incurred in purchasing the land were as follows: purchase price $50,000; broker's fee $6,000; title search and other fees $5,000; demoition of an old building on the property, $5,700 grading, $1,200; digging foundation for the road, $3,000; laying and paving driveway, $25,000; lighting $7,500; signs $1,500. List the items and amounts that should be included in the land account.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Expenditures incurred in purchasing the land
Reference No:- TGS066612

Expected delivery within 24 Hours