Pharoah Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. Debit 1. Excavation costs for new building $18,000 2. Architect’s fees on building pla
Pharoah Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order.
Debit | ||||
| 1. | $18,000 | |||
| 2. | 28,000 | |||
| 3. | 635,000 | |||
| 4. | 275,000 | |||
| 5. | 24,000 | |||
| 6. | 2,670 | |||
| 7. | 6,300 | |||
| 8. | 26,000 | |||
| 9. | 5,900 | |||
$1,020,870 | ||||
Credit | ||||
| 10. | $ 11,500 | |||
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Pharoah Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. Debit 1. Excavation costs for new building $18,000 2. Architect’s fees on building pla
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Sunland Company was organized on January 1. During the first
year of operations, the following plant asset expenditures and
receipts were recorded in random order.
Debit
1.
Excavation costs for new building
$20,000
2.
Architect’s fees on building plans
30,000
3.
Full payment to building contractor
637,000
4.
Cost of real estate purchased as a plant site (land $252,000
and building $25,000)
277,000
5.
Cost of parking lots and driveways
26,000
6.
Accrued real estate taxes paid at time of...
D o my was organized on January 1 During the first year of operations, the following...
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Please help fill in remaining red! Sunland Company was organized on January 1. During the first...
Please help fill in remaining
red!
Sunland Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. Debit $32.000 Excavation costs for new building 1. Architect's fees on building plans 42,000 2. 649,000 3. Full payment to building contractor Cost of real estate purchased as a plant site (land $264,000 and building $25,000) 4. 289,000 Cost of parking lots and driveways 5. 38,000 6. Accrued real...
F10.1 (LO 1) (Acquisition Costs of Realty) The following expenditures and receipts are related to land,...
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Problems: Set A 19.1A (LOI), Peete Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. Determine acquisition costs of land and building S23000 33.000 640,000 Debit 1. Excavation costs for new building 2. Architect's fees on building plans 3. Full payment to building contractor 4. Cost of real estate purchased as a plant site (land $255,000 and building $25.000) 5. Cost of parking lots and...
Garrison Company was organized on January 1. During the first year of operations, the following expenditures and receipts were recorded in random order in the account Land. Debits Cost of real estate purchased as a plant site (land and building) 1 $250,000 Accrued real estate taxes paid at the time of the purchase of the real estate. 2. 4,000 3. Cost of demolishing building to make land suitable for construction of a new building. 15,000 Architect's fees on building plans...
Oriole Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. 1. 2. 3. Debit Excavation costs for new building Architect's fees on building plans Full payment to building contractor Cost of real estate purchased as a plant site (land $261,000 and building $25,000) Cost of parking lots and driveways Accrued real estate taxes paid at time of purchase of land Installation cost of fences around...
Sunland Company was organized on January 1. During the first
year of operations, the following plant asset expenditures and
receipts were recorded in random order.
Debit
1.
Excavation costs for new building
$20,000
2.
Architect’s fees on building plans
30,000
3.
Full payment to building contractor
637,000
4.
Cost of real estate purchased as a plant site (land $252,000
and building $25,000)
277,000
5.
Cost of parking lots and driveways
26,000
6.
Accrued real estate taxes paid at time of...
D o my was organized on January 1 During the first year of operations, the following plantsspenditures and receipts were recorded in random order 1. 2. 3. 4. 5. 6. 7. 8. 9. Debit Excavation costs for new building Architect's fees on building plans Full payment to building contractor Cost of real estate purchased as a plant site and $268.000 and building $25.000) Cost of parking lots and driveways Accrued real estate taxes paid at time of purchase of land...
Please help fill in remaining
red!
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F10.1 (LO 1) (Acquisition Costs of Realty) The following expenditures and receipts are related to land, land improvements, and buildings acquired for use in a business enterprise. The receipts are enclosed in parentheses. a. Money borrowed to pay building contractor (signed a note) $(275,000) b. Payment for construction from note proceeds 275,000 c. Cost of land fill and clearing 8,000 d. Delinquent real estate taxes on property assumed by purchaser 7,000 e. Premium on 6-month insurance policy during construction 6,000...
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