In year 2, Kilroy Company purchased land for a new office building at a purchase price of $325,000. There was an existing building on the site that was demolished at a cost of $12,000. Scrap from the demolition was sold for $3,500. The building was completed during year 2. In addition, the following costs were incurred:

c. $ 359,000 $ 1,323,000 $ 0

Explanation:

The computation of given question is shown below:-

Total cost of land = Purchase cost + Demolition Cost + Cost of Attorneys for the Purchase Contract + Grading Cost - Scrape Sold

= $325,000 + $12,000 + $7,500 + $18,000 - $3,500

= $359,000

Total cost of building = Cost of Architect Design + Cost of Building Permits + Cost of Construction of Building

= $40,000 + $8,000 + $1,275,000

= $1,323,000

There are no costs to be reported as expenses because all expenditures have to be capitalized.

no u can still get a job there u just have to be determined.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know