Cullumber Company was organized on January 1, During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. 1. 2 3. 4. 5. 6. Debit Excavation costs for new building Architect's fees on building plans Full payment to building contractor Cost of real estate purchased as a plant site (land $259,000 and building $25,000) Cost of parking lots and driveways Accrued real estate taxes paid at time of purchase of land Installation cost of fences around property Cost of demolishing building to make and suitable for construction of new building Real estate taxes paid for the current year on land $27.000 37.000 644,000 284,000 33,000 3,570 7,200 35,000 6,800 $1.077,570 7. 9. Credit 10 Proceeds from salvage of demolished building $ 12,400 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 falls into either the Land or Buildings column, enter "Not Applicable" in the account title column. Enter negative amounts using either a negative sign preceding the number e.s. -45 or parentheses e...(45)) Other Accounts Amounts Account Building Land Item 31000 1 $ 41000 2 648000 3 288000 4. 37000 Land Improveme 5 3970 6 7600 Land Improveme i 7 39000 8 7200 9 -12800 10 720000 $ 325370 Attempts: 1 of 2 used Submit Answer Save for later