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I really need help with this example to understand how to solve future problems:Brady Self
I really need help with this example to understand how to solve future problems:
Brady Self
Storage purchased land, paying $ 190,000 cash as a down payment and signing a $180,000 note payable for the balance. Brady also had to pay delinquent property tax of $ 5,500, title insurance costing $ 4 ,000, and $ 11,000 to level the land and remove an unwanted building. The company paid $ 59, 000 to add soil for the foundation and then constructed an office building at a cost of $ 550, 000. It also paid $ 53,000 for a fence around the property, $ 20,000 for the company sign near the property entrance, and $ 5,000 for lighting of the grounds.
What is the capitalized cost of each of Brady's land, land improvements, and building?
