On March 1, 2016, Beldon Corporation purchased land as a factory site for $60,000. An old building on the property was demolished, and construction began on a new building that was completed on December 15, 2016. Costs incurred during this period are listed below:Demolition of old building 4,000Architect's fees (for new building) 12,000Legal fees for title investigation of land 2,000Property taxes on land (for period beginning March 1, 2016) 3,000Construction costs 500,000Interest on construction loan 5,000Salvaged materials resulting from the demolition of the old building were sold for $2,000.(a) Determine the amounts that Beldon should capitalize as the cost of the land.(b) Determine the amounts that Beldon should capitalize as the cost of the new building.

The amount that Beldon should capitalize as the cost of the land IS

$64,000

The amount that Beldon should capitalize as the cost of the new building.is   $517,000

Explanation:

Using the data from the question

Given that the

Land  Purchase price $60,000 Demolition of old building $2,000 ($ 4,000 - $2,000) Legal fees for title investigation of land 2,000

The amounts that Beldon should capitalize as the cost of the land IS

$64,000

In case of New building -The given data is

Architect’s fees (for new building) 12,000 Construction costs 500,000  Interest on construction loan 5,000  

The amounts that Beldon should capitalize as the cost of the new building.is   $517,000

$527.7.if the following was the question  $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?