Part E--Classification of Fixed Asset Costs Use the code below, classify the following expenditures. A....
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Part E--Classification of Fixed Asset Costs Use the code below, classify the following expenditures. A. Land B. Building C. Equipment and Machinery D. Expense 1. Purchased land for $250,000 2. Paid the contractor $500,000 to design and build the building. 3. Purchased equipment for $100,000 4. Paid $75,000 for a machine. 5. Paid a demolition company $10,000 to remove an old building on the land. 6. Paid $3,500 for a special foundation for machine. 7. Paid $1,000 per month for building maintenance. 8. Paid $3,000 for assembling and testing of equipment 9. Paid $900 to repair vandalism damage incurred during installation of machine. 10. Paid $1,100 transportation charges for delivery of equipment. 11. Paid $12,500 for delinquent real estate taxes. 12. Paid $4,000 for insurance costs incurred during construction of building
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