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List the items and amounts that should be included 1 Indicate whether each of the following expenditures should be classified as land (L), land improvements (LI), buildings (B), equipment (E), or none of these (X). _____ 1. Parking lots _____ 2. Electricity used by a machine _____ 3. Excavation costs _____ 4. Interest on building construction loan _____ 5. Cost of trial runs for machinery _____ 6. Drainage costs _____ 7. Cost to install a machine _____ 8. Fences _____ 9. Unpaid (past) property taxes assumed ____10. Cost of tearing down a building when land and a building on it are purchased 2 DeLong 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, €65,000; broker- fees, €6,000; title search and other fees, €5,000; demolition of an old building on the property, €5,700; grading, €1,200; digging foundation for the road, €3,000; laying and paving driveway, €25,000; lighting €7,500; signs, €1,500. List the items and amounts that should be included in the Land account. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help
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List the items and amounts that should be included
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