Item 1: Entity A purchased land adjacent to its plant to improve
access for trucks making deliveries. Expenditures incurred in
purchasing the land were as follows: Purchase price $55,000
Broker’s fees 6,000
Title search and other fees 5,000
Demolition 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.
Item 2: Equipment...