Diaz SLU was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order.

Instructions

Analyze the foregoing transactions using the following column headings. Insert the number of each transaction in the Item column, and then insert the amounts in the other appropriate columns. For amounts entered in the Other Accounts column, also indicate the account titles.

Item      Land      Buildings      Other      Accounts

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Debit 1. Cost of filling and grading the land 2. Full payment to building contractor 3. Real estate taxes on land paid for the current year 4. Cost of real estate purchased as a plant site (land €100,000 and building €45,000) 5. Excavation costs for new building € 6,600 780,000 5,000 145,000 35,000 6. Architect's fees on building plans 7. Accrued real estate taxes paid at time of purchase of real estate 8. Cost of parking lots and driveways 10,500 2,800 14,000 9. Cost of demolishing building to make land suitable for construction of new building 15,000 €1,013,900 Credit 10. Proceeds from salvage of demolished building € 3,600