Delta Company acquired land and a building on March 1,20X3,paying a total of $1,400,000.Separately,the land had an estimated fair market value of $750,000 and the building had an estimated fair market value of $1,125,000.In order to use the property,land improvements of $20,000 were incurred.Additionally,the building needed to be rewired,at a cost of $65,000.Also,certain walls had to be knocked down,while others were constructed.The cost to remove and replace walls was $80,000.The company took occupancy of the building on August 1,20X3.
For all of items noted above,determine how much will be incorporated into the land account,the building account,or expensed as of Delta Company's year end of December 31,20X3.

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The Answer of Delta Company acquired land and a building on March 1,20X3,paying a total of $1,400,000.Separately,the land had an estimated fair market value of $750,000 and the building had an estimated fair market value of $1,125,000.In order to use the property,land improvements of $20,000 were incurred.Additionally,the building needed to be rewired,at a cost of $65,000.Also,certain walls had to be knocked down,while others were constructed.The cost to remove and replace walls was $80,000.The company took occupancy of the building on August 1,20X3.
For all of items noted above,determine how much will be incorporated into the land account,the building account,or expensed as of Delta Company's year end of December 31,20X3.

Delta Company Acquired Land and a Building on March 1,20X3,paying