The Buildings account of Postera Inc. includes the following items that were used in determining the basis for depreciating the cost of a building.
(a) Organization and promotion expenses. (b) Architect fees. (c) Interest and taxes during construction. (d) Interest revenue on investments held to fund construction of a building. Do you agree with these charges? If not, how would you deal with each of the items above in the corporations books and in its annual financial statements?
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May 2021
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