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Problem 10-3 Cullumber Company was incorporated on January 2, 2018, but was unable to begin...

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Problem 10-3 Cullumber Company was incorporated on January 2, 2018, but was unable to begin manufacturing activities until July 1, 2018, because new factory facilities were not completed until that date The Land and Buildings account reported the following items during 2018 January 31 February 28 May 1 May 1 June 1 June 1 June 1 June 30 July 1 December 31 Land and building Cost of removal of building Partial payment of new construction Legal fees paid Second payment on new construction Insurance premium Special tax assessment General expenses Final payment on new construction Asset write-up $168,500 9,970 64,800 4,540 49,100 2,280 4,150 36,675 27,950 56,495 424,460 (3,743) $420,717 December 31 Depreciation-2018 at 1% December 31, 2018 Account balance The following additional information is to be considered

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