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​McArthur, Inc. plans to develop a shopping center. In the first​ quarter, the following amounts were​ spent: Acquisition of land $ 18 comma 000 Surveys and legal fees 1 comma 300 Land clearing 500 Fencing 9 comma 000 Install lighting and signage 13 comma 060 What amount should be recorded as the land improvements​ cost?

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abiolataiwo2015

Answer:

$22,060

Explanation:

Calculation for the amount that should be recorded as the land improvements​ cost?

Using this formula

Land improvement cost = Cost of installation lighting and signage +Cost of fencing

Let plug in the formula

Land improvement cost=$13,060 + $9,000

Land improvement cost=$22,060

Therefore the amount that should be recorded as the land improvements​ cost will be $22,060

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