121/2017 Problem 9-1A \"Problem 9-1A Sandhill Co. was organized on January 1. Du

Question

121/2017 Problem 9-1A "Problem 9-1A Sandhill Co. was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order Debit $13,740 34,010 670,500 319,400 34,300 3,220 8,370 31,700 7,120 $1,122,360 1 Excavation costs for new building 2. Architect's fees on building plans 3 Full payment to building contractor Cost of real estate purchased as a plant site (land $290,300 and building 4. $29,100) 5. Cost of parking lots and driveways 6. Accrued real estate taxes paid at time of purchase of real estate 7. Installation cost of fences around property Cost of demolishing building to make land suitable for construction of new 8. building 9 Real estate taxes paid for the current year on land Credit 10. Proceeds from salvage of demolished building 11,600 Analyze the transactions using the following table column headings. Enter the amounts in the appropriate columns. For amounts in the Other Accounts column, also indicate the account title. (ir an amount fall into the Land and Buildings column then enter "Not Applicable" in the account title cofumn. Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).,) Other Accounts Item Land Building Amounts Account Title 2 4 5 6 8 https:lledugen.wileyplus.com edugenisharedfassignmenties gprint.uni 1/2

Explanation / Answer

Item

Land

Building

Amounts

Accounts Title

1

13740

2

34010

3

670500

4

319400

0

5

34300

Land improvements

6

3220

7

8370

Land improvements

8

31700

9

7120

Real estate taxes expense

10

(11600)

$342720

$718250

$49790

Item

Land

Building

Amounts

Accounts Title

1

13740

2

34010

3

670500

4

319400

0

5

34300

Land improvements

6

3220

7

8370

Land improvements

8

31700

9

7120

Real estate taxes expense

10

(11600)

$342720

$718250

$49790

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