Question

The expenditures and receipts below are related to land, land improvements, and buildings acquired for use...

The expenditures and receipts below 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) $(285,400 )
(b) Payment for construction from note proceeds 285,400
(c) Cost of land fill and clearing 11,790
(d) Delinquent real estate taxes on property assumed by purchaser 7,300
(e) Premium on 6-month insurance policy during construction 8,580
(f) Refund of 1-month insurance premium because construction completed early (1,430 )
(g) Architect’s fee on building 26,200
(h) Cost of real estate purchased as a plant site (land $209,100 and building $52,900) 262,000
(i) Commission fee paid to real estate agency 8,970
(j) Installation of fences around property 3,770
(k) Cost of razing and removing building 11,710
(l) Proceeds from salvage of demolished building (4,550 )
(m) Interest paid during construction on money borrowed for construction 13,150
(n) Cost of parking lots and driveways 20,050
(o) Cost of trees and shrubbery planted (permanent in nature) 14,440
(p) Excavation costs for new building 2,700


Identify each item by letter and list the items in columnar form, using the headings shown below. All receipt amounts should be reported in parentheses. (Enter receipt amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Item Land Land
Improvements
Building Other Non-Property, Plant,
and Equipment
(a) $enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

(b) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(c) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(d) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(e) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(f) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(g) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(h) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(i) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(j) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(k) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(l) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(m) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(n) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(o) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

(p) enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

0 0
Add a comment Improve this question Transcribed image text
Answer #1
Item Land Land
Improvements
Building Other Non-Property, Plant,
and Equipment
(a)

(285400)

(b)

285400

(c) 11790

(d) 7300

(e)

8580

(f)

(1430)

(g)

26200

(h) 262000

(i) 8970

(j)

3770

(k) 11710

(l) (4550)

(m)

13150

(n) 20050

(o) 14440

(p)

2700

Add a comment
Know the answer?
Add Answer to:
The expenditures and receipts below are related to land, land improvements, and buildings acquired for use...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • The following expenditures and receipts are related to land, land improvements, and buildings acquired for use...

    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) $(292,600) (b) Payment for construction from note proceeds 292,600 Cost of land fill and clearing 11,790 Delinquent real estate taxes on property assumed by purchaser 7,630 Premium on 6-month insurance policy during construction 11,040 Refund of 1-month insurance premium because construction completed early (1,840)...

  • The expenditures and receipts below are related to land, land improvements, and buildings acquired for use...

    The expenditures and receipts below 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) $(276,900 ) (b) Payment for construction from note proceeds 276,900 (c) Cost of land fill and clearing 10,340 (d) Delinquent real estate taxes on property assumed by purchaser 7,530 (e) Premium on 6-month insurance policy during construction 10,980 (f) Refund of 1-month insurance premium...

  • The following expenditures and receipts are related to land, land improvements, and buildings acquired for use...

    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) (b) (c) (d) (e) () () (h) Money borrowed to pay building contractor (signed a note) Payment for construction from note proceeds Cost of land fill and clearing Delinquent real estate taxes on property assumed by purchaser Premium on 6-month insurance policy during construction Refund of 1-month insurance premium because construction completed early...

  • The following expenditures and receipts are related to land, land improvements, and buildings acquired for use...

    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) $(288,800) 2 T Payment for construction from note proceeds 288,800 10,420 (c) Cost of land fill and clearing Delinquent real estate taxes on property assumed by purchaser 8,950 a (e) Premium on 6-month insurance policy during construction 7,200 Refund of 1-month insurance premium because...

  • Exercise 10-1 The expenditures and receipts below are related to land, land improvements, and buildings acquired...

    Exercise 10-1 The expenditures and receipts below 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) $(290,100 ) (b) Payment for construction from note proceeds 290,100 (c) Cost of land fill and clearing 10,580 (d) Delinquent real estate taxes on property assumed by purchaser 7,410 (e) Premium on 6-month insurance policy during construction 12,240 (f) Refund of 1-month...

  • Exercise 10-1 The expenditures and receipts below are related to land, land improvements, and buildings acquired...

    Exercise 10-1 The expenditures and receipts below 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) $(289,100 ) (b) Payment for construction from note proceeds 289,100 (c) Cost of land fill and clearing 11,860 (d) Delinquent real estate taxes on property assumed by purchaser 7,990 (e) Premium on 6-month insurance policy during construction 9,480 (f) Refund of 1-month...

  • The following expenditures and receipts are related to land, land improvements, and buildings acquired for use...

    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) $(284,500 ) (b) Payment for construction from note proceeds 284,500 (c) Cost of land fill and clearing 10,920 (d) Delinquent real estate taxes on property assumed by purchaser 7,730 (e) Premium on 6-month insurance policy during construction 8,520 (f) Refund of 1-month insurance premium...

  • The following expenditures and receipts are related to land, land improvements, and buildings acquired for use...

    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) $(286,200 ) (b) Payment for construction from note proceeds 286,200 (c) Cost of land fill and clearing 11,120 (d) Delinquent real estate taxes on property assumed by purchaser 9,070 (e) Premium on 6-month insurance policy during construction 10,020 (f) Refund of 1-month insurance premium...

  • The following payments and receipts are related to land, land improvements, and buildings acquired for use...

    The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale apparel business. The receipts are identified by an asterisk. a. Fee paid to attorney for title search b. Cost of real estate acquired as a plant site: Land $3,600 720,000 60,000 23,400 15,000 75,000 10,000 3,400* 18,000 8,400 800,000* 13,400 3,000 2,000 14,000 21,600 Building (to be demolished) c. Finder's fee paid to real estate agency d. Delinquent real estate taxes...

  • The following payments and receipts are related to land, land improvements, and buildings acquired for use...

    The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale ceramic business. The receipts are identified by an asterisk next to the item letter. a. Fee paid to attorney for title search $ 2,500 b. Cost of real estate acquired as a plant site: Land 285,000 Cost of real estate acquired as a plant site: Building (to be demolished) 55,000 c. Delinquent real estate taxes on property, assumed by purchaser 15,500...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT