1. Allocating Payments and Receipts to Fixed Asset Accounts

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.

a.	Fee paid to attorney for title search	$3,400
b.	Cost of real estate acquired as a plant site: Land	353,600
	Building (to be demolished)	33,600
c.	Delinquent real estate taxes on property, assumed by purchaser	19,900
d.	Cost of tearing down and removing building acquired in (b)	5,600
e.	Proceeds from sale of salvage materials from old building	3,300*
f.	Special assessment paid to city for extension of water main to the property	13,300
g.	Architects and engineers fees for plans and supervision	48,600
h.	Premium on one-year insurance policy during construction	4,700
i.	Cost of filling and grading land	19,400
j.	Money borrowed to pay building contractor	829,100*
k.	Cost of repairing windstorm damage during construction	6,100
l.	Cost of paving parking lot to be used by customers	16,800
m.	Cost of trees and shrubbery planted	10,000
n.	Cost of floodlights installed on parking lot	1,100
o.	Cost of repairing vandalism damage during construction	2,700
p.	Proceeds from insurance company for windstorm and vandalism damage	6,600*
q.	Payment to building contractor for new building	883,900
r.	Interest incurred on building loan during construction	41,500
s.	Refund of premium on insurance policy (h) canceled after 11 months	392*

Required:

1. Assign each payment and receipt to Land (unlimited life), Land Improvements (limited life), Building, or Other Accounts. Choose the correct account from the dropdown list for each letter and enter the appropriate amount. Enter receipts as negative amounts using the minus sign.

Item	Account	Amount
a.		$fill in the blank 2
b.		$fill in the blank 4
c.		$fill in the blank 6
d.		$fill in the blank 8
e.		$fill in the blank 10
f.		$fill in the blank 12
g.		$fill in the blank 14
h.		$fill in the blank 16
i.		$fill in the blank 18
j.		$fill in the blank 20
k.		$fill in the blank 22
l.		$fill in the blank 24
m.		$fill in the blank 26
n.		$fill in the blank 28
o.		$fill in the blank 30
p.		$fill in the blank 32
q.		$fill in the blank 34
r.		$fill in the blank 36
s.		$fill in the blank 38

2. Determine the amount debited to Land, Land Improvements, and Building.

Land	Land Improvements	Building
$fill in the blank 39	$fill in the blank 40	$fill in the blank 41