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, €73,000; 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.

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The Answer of 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, €73,000; 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.

DeLong Corporation Purchased Land Adjacent to Its Plant to Improve