Ryan Company purchased a building on January 1, 2018, for $250,000. In addition, during 2018 the following costs related to the building have been incurred: The amount of expenditures to capitalize for the year (not including the initial purchase of the building) is:
A) $35,000.
B) $85,000.
C) $81,000.
D) $72,000.

Question

Ryan Company purchased a building on January 1, 2018, for $250,000. In addition, during 2018 the following costs related to the building have been incurred:  The amount of expenditures to capitalize for the year (not including the initial purchase of the building) is:
A) $35,000. 
B) $85,000. 
C) $81,000. 
D) $72,000.

Quizplus · Accepted Answer

$53,000 + $28,000 = $81,000.

Ryan Company Purchased a Building on January 1, 2018, for $250,000