70.6k views
3 votes
On February 1, 2020, Bonita Industries purchased a parcel of land as a factory site for $328000. An old building on the property was demolished, and construction began on a new building which was completed on November 1, 2020. Costs incurred during this period are listed below: Demolition of old building $ 19800 Architect's fees 36400 Legal fees for title investigation and purchase contract 4600 Construction costs 1378000 (Salvaged materials resulting from demolition were sold for $10200.) Bonita should record the cost of the land and new building, respectively, as:____________

a. $342200 and $1414400.
b. $352400 and $1404200.
c. $337600 and $1419000.
d. $337600 and $1414400.

User JayWHY
by
8.0k points

1 Answer

4 votes
I think is b I hope this helps
User Mirage
by
8.7k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories