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Culver Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random
Culver 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 Cost of Ming and grading the land $3,000 2. Full payment to building contractor 664,500 Real estate taxes paid for the current year on land 5.500 4. Cost of real estate purchased as a plant site fland $108.000 and building $44,000) 152.000 5 Excavation costs for new building 35,500 A Arhitect's fees on building plans 13500 7 Accrued real estate taxes paid at time of purchase of land 1,500 8 Cost of parking lots and driveways 13.000 9 Cost of demolishing building to make land suitable for construction of new building 26,000 $934.500 Credit 10 Proceeds from salvage of demolished building $3.500 Analyze the transactions using the following table column headings. Enter the amounts in the appropriate columns of an amount reduces the account balance then enter with a negative sign preceding the number eg-15,000 or parenthesis ea (15.0001) Item 10 Land Buildings Other Accounts
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