Chapter 16 Problem 16-2
Problem 16-2
Land Building
Cash paid for land and old building 1,000,000
Removal of old building 50,000
Payment to tenants of old building to vacate premises 15,000
Architect fee 200,000
Building permit 30,000
Fee for title search 10,000
Survey before construction 20,000
Excavation 100,000
Cost of new building constructed 6,000,000
Assessment fee 5,000
Cost of grading, leveling and landfill 45,000
Driveways and walks 40,000
Temporary quarters for construction crew 80,000
Temporary building to house tools and materials 60,000
Cost of construction changes _________ 50,000
1,145,000 6,560,000
Note: The cost of replacing windows is treated as expense.
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