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AP8-1A (Capitalizing costs related to PP&E) C & M Securities made several expenditures during the...

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Accounting

AP8-1A (Capitalizing costs related to PP&E) C & M Securities made several expenditures during the current fiscal year, including the following:
Amount
Description of Expenditure
1.
$150,000
Acquisition of a piece of land to be used as a building site
2.
3,000
Demolition of a small building on the land, to make way for the new building
3.
7,500
Levelling of the land to prepare it for construction of the new building
4.
290,000
Construction of the new building
5.
12,000
Paving of a parking lot beside the building
6.
6,000
Addition of decorative landscaping around the building (such as planting flowers and ornamental shrubs)
7.
80,000
Purchase of a new piece of equipment
8.
6,000
Sales taxes on the new equipment
9.
3,000
Installation of the new equipment
10.
1,500
Testing and adjustment of the new equipment prior to its use
11.
1,000
Minor repairs to some old equipment
12.
7,000
Major overhaul of an old piece of equipment, extending its useful life by three years
13.
1,200
Routine maintenance of equipment
14.
2,000
Replacement of windows broken by disgruntled employees during a labour dispute

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