Com Chapter 9 Exercises & Problems och Allocating Payments and Receipts to Paed Asset Accounts The following payments and receipts are related to und, and improvements, and buildings acquired for use in a wholesale more business. The receipts are entity a. Fee paid to attorney for title search b. Cost of real estate acquired as a plant sites and $3,000 316,400 Building to be demolished 30,100 C. Finder's fee paid to real estate agency 17.800 a. Delinquent real estate taxes on property, assumed by purchaser 5,000 c. Artritect's and engineer's fees for plans for new building 3,000 1. Cost of removing building purchased with and in (D) 11.900 9. Proceeds from sale of salvage materials from old building 43,500 h. Cost of filing and grading and 4,200 Premium on one-year Insurance polic during construction 17.400 3. Money borrowed to pay building contractor 742.000 Special assessment paid to city for extension of water main to the k. 5.500 property Cost of repairing windstorm damage during construction 15,000 m Cost of repairing vandalism damage during construction n. Cost of trees and shrubbery planted 1.000 0. Cost of paving paring lot to be used by customers 2,500 5.900 p. Interest incurred on building loan during construction 37,200 G. Proceeds from insurance company for windstorm and vandalism damage 791000 Payment to building contractor for new building Refund of premium on Insurance policy (I) canceled after 11 months Required: 2.900 350 NO hapter 9 Exercises & Problems BOOK Prim Requiredi 1. Assign each payment and receipt to Land (unlimited e), Land Improvements (limited e Building, or Other Accounts on the correct to the door amount. Enter receipts as negative amounts using the minus sign Item Account Amount C 0 1 0 th m p m 0 P. 9 5. 2. Determine the amount debited to Land, Land Improvements, and Building Land Land Improvements Building 3. Since and used as a plant site lose its blity to provide services, Deprecated and more time passes and are, therefore 4. What would be the effect on the income statement and balance sheet of the cost of fing and rang ndo 317.400 metara Improvements are depreciated over a 20-year life using the doubledecin-balance method Check My Workmore Check My Working Com Chapter 9 Exercises & Problems och Allocating Payments and Receipts to Paed Asset Accounts The following payments and receipts are related to und, and improvements, and buildings acquired for use in a wholesale more business. The receipts are entity a. Fee paid to attorney for title search b. Cost of real estate acquired as a plant sites and $3,000 316,400 Building to be demolished 30,100 C. Finder's fee paid to real estate agency 17.800 a. Delinquent real estate taxes on property, assumed by purchaser 5,000 c. Artritect's and engineer's fees for plans for new building 3,000 1. Cost of removing building purchased with and in (D) 11.900 9. Proceeds from sale of salvage materials from old building 43,500 h. Cost of filing and grading and 4,200 Premium on one-year Insurance polic during construction 17.400 3. Money borrowed to pay building contractor 742.000 Special assessment paid to city for extension of water main to the k. 5.500 property Cost of repairing windstorm damage during construction 15,000 m Cost of repairing vandalism damage during construction n. Cost of trees and shrubbery planted 1.000 0. Cost of paving paring lot to be used by customers 2,500 5.900 p. Interest incurred on building loan during construction 37,200 G. Proceeds from insurance company for windstorm and vandalism damage 791000 Payment to building contractor for new building Refund of premium on Insurance policy (I) canceled after 11 months Required: 2.900 350 NO hapter 9 Exercises & Problems BOOK Prim Requiredi 1. Assign each payment and receipt to Land (unlimited e), Land Improvements (limited e Building, or Other Accounts on the correct to the door amount. Enter receipts as negative amounts using the minus sign Item Account Amount C 0 1 0 th m p m 0 P. 9 5. 2. Determine the amount debited to Land, Land Improvements, and Building Land Land Improvements Building 3. Since and used as a plant site lose its blity to provide services, Deprecated and more time passes and are, therefore 4. What would be the effect on the income statement and balance sheet of the cost of fing and rang ndo 317.400 metara Improvements are depreciated over a 20-year life using the doubledecin-balance method Check My Workmore Check My Working