Franz Company 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 transactions using the table column headings provided here. Enter the number of each transaction in the Item column, and enter the amounts in the appropriate columns. For amounts in the Other Accounts column, also indicate the account titles.

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Debits 1. Cost of real estate purchased as a plant site (land $190,000 and building $80,000) 2. Accrued real estate taxes paid at time of purchase of real estate 3. Cost of demolishing building to make land suitable for construction of new building 4. Cost of filling and grading the land 5. Excavation costs for new building 6. Architect's fees on building plans 7. Full payment to building contractor 8. Cost of parking lots and driveways 9. Real estate taxes paid for the current year on land Credits 10. Proceeds for salvage of demolished building $ 270,000 6,000 32,000 6,700 21,900 44,000 629,500 36,000 7,300 $1,053,400 $ 12,700