Eagle Country Club Has Acquired a Lot to Construct a Clubhouse

Essay

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.