9-1A

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

Debit

1.Excavation costs for new building$13,935

2.Architect's fees on building plans33,430

3.Full payment to building contractor643,100

4.Cost of real estate purchased as a plant site (land $292,400and building $29,400)321,800

5.Cost of parking lots and driveways33,530

6.Accrued real estate taxes paid at time of purchase of real estate2,370

7.Installation cost of fences around property7,420

8.Cost of demolishing building to make land suitable for construction of new building32,600

9.Real estate taxes paid for the current year on land7,800

$1,095,985

Credit

10.Proceeds from salvage of demolished building$11,700

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 fall into the Land and Buildings column then enter "Not Applicable" in the account title column. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Other Accounts

Item

Land

Building

Amounts

Account Title

1

$

enter a dollar amount

$

enter a dollar amount

$

enter a dollar amount

choose an account title

Not Applicable

License Expense

Property Tax Expense

Prepaid Insurance

Land Improvements

2

enter a dollar amount

enter a dollar amount

enter a dollar amount

choose an account title

Prepaid Insurance

Land Improvements

License Expense

Property Tax Expense

Not Applicable

3

enter a dollar amount

enter a dollar amount

enter a dollar amount

choose an account title

Property Tax Expense

Prepaid Insurance

License Expense

Not Applicable

Land Improvements

4

enter a dollar amount

enter a dollar amount

enter a dollar amount

choose an account title

License Expense

Property Tax Expense

Land Improvements

Prepaid Insurance

Not Applicable

5

enter a dollar amount

enter a dollar amount

enter a dollar amount

choose an account title

Not Applicable

Land Improvements

Property Tax Expense

Prepaid Insurance

License Expense

6

enter a dollar amount

enter a dollar amount

enter a dollar amount

choose an account title

Property Tax Expense

License Expense

Prepaid Insurance

Land Improvements

Not Applicable

7

enter a dollar amount

enter a dollar amount

enter a dollar amount

choose an account title

License Expense

Land Improvements

Property Tax Expense

Not Applicable

Prepaid Insurance

8

enter a dollar amount

enter a dollar amount

enter a dollar amount

choose an account title

License Expense

Property Tax Expense

Prepaid Insurance

Not Applicable

Land Improvements

9

enter a dollar amount

enter a dollar amount

enter a dollar amount

choose an account title

Prepaid Insurance

License Expense

Land Improvements

Not Applicable

Property Tax Expense

10

enter a dollar amount

enter a dollar amount

enter a dollar amount

choose an account title

Not Applicable

Land Improvements

Property Tax Expense

Prepaid Insurance

License Expense

$

enter a total for the land column

$

enter a total for the building column