Indicate whether each of the following expenditures should be classified as land (L), land improvements (LI), buildings (B), equipment (E), or none of these (X).
____ 1. Parking lots
___ 2. Electricity used by a machine
___ 3. Excavation costs
____4. Interest on building construction loan
____5. Cost of trial runs for machinery
____6. Drainage costs
___ 7. Costto install amachine
______8. Fences
___ 9. Unpaid (past) property taxes assumed
___10. Cost of tearing down a building when land and a building on it are purchased

Question

Indicate whether each of the following expenditures should be classified as land (L), land improvements (LI), buildings (B), equipment (E), or none of these (X).
____ 1. Parking lots
___  2. Electricity used by a machine
___ 3. Excavation costs
____4. Interest on building construction loan
____5. Cost of trial runs for machinery
____6. Drainage costs
___ 7. Costto install amachine
______8. Fences
___ 9. Unpaid (past) property taxes assumed
___10. Cost of tearing down a building when land and a building on it are purchased

Quizplus · Accepted Answer

The Answer of Indicate whether each of the following expenditures should be classified as land (L), land improvements (LI), buildings (B), equipment (E), or none of these (X).
____ 1. Parking lots
___  2. Electricity used by a machine
___ 3. Excavation costs
____4. Interest on building construction loan
____5. Cost of trial runs for machinery
____6. Drainage costs
___ 7. Costto install amachine
______8. Fences
___ 9. Unpaid (past) property taxes assumed
___10. Cost of tearing down a building when land and a building on it are purchased

Indicate Whether Each of the Following Expenditures Should Be Classified