Mon. Dec 5th, 2022

Education homework help. February 1, 2016, Alpha Company purchased land for the future factory location at a cost of $50,000.  The dilapidated building that was on the property was demolished so that construction could begin on the new factory building. The new factory was completed on November 1, 2016. Costs incurred during this period were:ItemAmountDemolition dilapidated building$4,500Architect Fees$9,750Legal Fees – for title search$2,500Interest During Active Construction Period$17,500Construction Costs$510,000Using this information, how much should be recorded as the cost of: (Enter only whole dollar values.)1. Land2. New Building

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