Swans Ltd constructed a building on a property already owned by the football club.Which of the following items should be included in determining the depreciable amount of the building?

Question

Quizplus · Accepted Answer

Architect's fees and interest during construction are both considered part of the cost of constructing the building and should therefore be included in determining the depreciable amount of the building. Promotional expense is not considered part of the cost of constructing the building and should not be included.

Swans Ltd Constructed a Building on a Property Already Owned