Farley 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 $70000; broker's fees $6000; title search and other fees $5000; demolition of an old building on the property $5700; grading $1200; digging foundation for the road $3000; laying and paving driveway $25000; lighting $7500; signs $1500. List the items and amounts that should be included in the Land account.

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The Answer of Farley 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 $70000; broker's fees $6000; title search and other fees $5000; demolition of an old building on the property $5700; grading $1200; digging foundation for the road $3000; laying and paving driveway $25000; lighting $7500; signs $1500. List the items and amounts that should be included in the Land account.

Farley Corporation Purchased Land Adjacent to Its Plant to Improve