9-1A

Problem 9-1A Pharoah Company was organized on January 1. During the first year of operations, the following plant asset Debit 1. Excavation costs for new building 2. Architect's fees on building plans 3. Full payment to building contractor $13,730 39,820 653,500 Cost of real estate purchased as a plant site (land $275,000 and building 309,100 38,730 3,890 8,580 31,000 6,990 $1,105,340 4. $34,100) 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 8. building 9. Real estate taxes paid for the current year on land Cost of demolishing building to make land suitable for construction of new Credit Proceeds from salvage of demolished building 10. $11,100