On May 4, 2013, Strauss Company purchased a tract of land as a factory site for $3,200,000. An existing building on the property was demolished, and construction was begun on a new factory building in July 2013 and completed December 15, 2013. Cost data are shown below. Required:
Compute the capitalized cost of (1) the land and (2) the factory building.

Question

On May 4, 2013, Strauss Company purchased a tract of land as a factory site for $3,200,000. An existing building on the property was demolished, and construction was begun on a new factory building in July 2013 and completed December 15, 2013. Cost data are shown below.  Required:
Compute the capitalized cost of (1) the land and (2) the factory building.

Quizplus · Accepted Answer

The Answer of On May 4, 2013, Strauss Company purchased a tract of land as a factory site for $3,200,000. An existing building on the property was demolished, and construction was begun on a new factory building in July 2013 and completed December 15, 2013. Cost data are shown below.  Required:
Compute the capitalized cost of (1) the land and (2) the factory building.

On May 4, 2013, Strauss Company Purchased a Tract of Land