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1 Wildhorse Co, was organized on January 1 . During the first year of operations, the following plant asset expenditures and recelpts were recorded in
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Wildhorse Co, was organized on January 1 . During the first year of operations, the following plant asset expenditures and recelpts were recorded in random order. Debit 1 Excavation costs for new building 2. Architect's fees on building plans 3. Full payment to buildine contractor 4. Cost of real estate purchased as a plant site. The property includes a building which will be demolished to prepare the propert 5. Cost of parking lots and driveways 6. Accrued real estate taxes paid at time of purchase of land 7. Installation cost of fences around property 8. Cost of demolishing building to make land sultable for construction of new building 9. Real estate taxes paid for the current year on land 10. Proceeds from salvage of demolished building Debit property includes a building which will be demolished to prepare the property for bullding a new plant. \begin{tabular}{r} $35,000 \\ 45,000 \\ 652,000 \\ 292,000 \\ 41,000 \\ 4,370 \\ 8,000 \\ 43,000 \\ 7,600 \\ \hline$1,127,970 \\ \hline \end{tabular} Credis $13,200 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, If an amount falfs into either the Land or Ruildings column, enter "Not Applicable" in the occount titie calumn. Enter negathe omounts using either a negative sisn preceding the number es. 45 or parentheses eg. (45)) Step by Step Solution
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