Question

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Problem 9-1A Venable Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. Cost of filling and grading the land Full payment to building contractor Real estate taxes on land paid for the current year Cost of real estate purchased as a plant site (land $105,990 and building $48,880) Excavation costs for new building Architect's fees on building plans Accrued real estate taxes paid at time of purchase of real estate Cost of parking lots and driveways Cost of demolishing building to make land suitable for construction of new building $3,160 685,070 5,800 154,870 37,210 10,940 1,940 13,500 24,530 $937,020 1. 3 4. 5 6. 7. 8. 9. 10. Proceeds from salvage of demolished building $3,570 Analyze the foregoing transactions using the following column headings. (If an amount reduces the account balance then enter with a negative sign preceding the number, e.g. -15,000 or parenthesis, e.g. (15,000).) tem Buildings Other Accounts 4 8 9 10

Answer 1

Land Building Other Account 3160 685070.00 3160.00 5800 48880.00685070.00 105990 37210.00 1940 10940.00154870.00 24530 -24530.00 -37210.00 5800.00 3570 13500.00 3570.00