Eagle Country Club has acquired a lot to construct a clubhouse. Eagle had the following costs related to the construction: $\begin{array}{lr}
\text { Architects' fees } & 45,000 \
\text { Construction labor } & 80,000 \
\text { Engineers' fees } & 15,000 \
\text { Fences around building } & 9,000 \
\text { Grading and leveling } & 10,000 \
\text { Insurance costs incurred during construction } & 7,000 \
\text { Interest on money borrowed for construction } & 5,000 \
\text { Land } & 73,000 \
\text { Buil ding Materials } & 237,000 \
\text { Sales taxes } & 6,000 \
\text { Trees and shrubs } & 6,000
\end{array}$
Determine the cost of the club house to be reported on the balance sheet.

Question

Eagle Country Club has acquired a lot to construct a clubhouse. Eagle had the following costs related to the construction: $\begin{array}{lr}
\text { Architects' fees } & 45,000 \
\text { Construction labor } & 80,000 \
\text { Engineers' fees } & 15,000 \
\text { Fences around building } & 9,000 \
\text { Grading and leveling } & 10,000 \
\text { Insurance costs incurred during construction } & 7,000 \
\text { Interest on money borrowed for construction } & 5,000 \
\text { Land } & 73,000 \
\text { Buil ding Materials } & 237,000 \
\text { Sales taxes } & 6,000 \
\text { Trees and shrubs } & 6,000
\end{array}$ ​
Determine the cost of the club house to be reported on the balance sheet.

Quizplus · Accepted Answer

The Answer of Eagle Country Club has acquired a lot to construct a clubhouse. Eagle had the following costs related to the construction: $\begin{array}{lr}
\text { Architects' fees } & 45,000 \
\text { Construction labor } & 80,000 \
\text { Engineers' fees } & 15,000 \
\text { Fences around building } & 9,000 \
\text { Grading and leveling } & 10,000 \
\text { Insurance costs incurred during construction } & 7,000 \
\text { Interest on money borrowed for construction } & 5,000 \
\text { Land } & 73,000 \
\text { Buil ding Materials } & 237,000 \
\text { Sales taxes } & 6,000 \
\text { Trees and shrubs } & 6,000
\end{array}$ ​
Determine the cost of the club house to be reported on the balance sheet.

Eagle Country Club Has Acquired a Lot to Construct a Clubhouse