On February 1, 2010, Nelson Corporation purchased a parcel of land as a factory site for $200,000.An old building on the property was demolished, and construction began on a new building which was completed on November 1, 2010.Costs incurred during this period are listed below: (Salvaged materials resulting from demolition were sold for $10,000.)
Nelson should record the cost of the land and new building, respectively, as

Question

On February 1, 2010, Nelson Corporation purchased a parcel of land as a factory site for $200,000.An old building on the property was demolished, and construction began on a new building which was completed on November 1, 2010.Costs incurred during this period are listed below:  (Salvaged materials resulting from demolition were sold for $10,000.)
Nelson should record the cost of the land and new building, respectively, as

Quizplus · Accepted Answer

The Answer of On February 1, 2010, Nelson Corporation purchased a parcel of land as a factory site for $200,000.An old building on the property was demolished, and construction began on a new building which was completed on November 1, 2010.Costs incurred during this period are listed below:  (Salvaged materials resulting from demolition were sold for $10,000.)
Nelson should record the cost of the land and new building, respectively, as

On February 1, 2010, Nelson Corporation Purchased a Parcel of Land