Halifax Resort Incurred the Following Costs to Acquire and Prepare

Multiple Choice

Halifax Resort incurred the following costs to acquire and prepare land during 2013 for a new parking lot: purchase price for land,$800,000;cost to clear the land,$30,000;cost of paving,$40,000;and lighting for the parking lot,$20,000.How much should Halifax record in the Land Improvements account?

A) $30,000
B) $40,000
C) $60,000
D) $90,000