Barton Resort Incurred the Following Costs to Acquire and Prepare

question 141

Multiple Choice

Barton Resort incurred the following costs to acquire and prepare land during 2015 for a new parking lot: purchase price for land, $800,000; cost to clear the land, $30,000; cost of paving, $40,000; and lighting for the parking lot, $20,000.How much should Barton record in the Land Improvements account?

• A)$30,000
• B)$40,000
• C)$60,000
• D)$90,000

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