Chapter 10, Problem 1PB

1.

To determine

Identify each item by letter and the list the amounts in columnar form.

2.

To determine

Determine the amount debited to Land, Land Improvements, and Building.

3.

To determine

Explain the contradictory application of the concept of depreciation for Land and Land Improvements.

4.

To determine

Explain the effect on the current year’s income statement and balance sheet due to wrong classification of the cost of filling and grading land.