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Current Attempt in Progress Culver Company was organized on Janulary 1. During the first year of operations, the following plant asset expenditures and receipts were
Current Attempt in Progress Culver Company was organized on Janulary 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. Debit 1.1. Cost of filling and grading the land 2. Full payment to building contractor $3,000 684,500 3. Real estate taxes paid for the current year on land 5,500 4. Cost of real estate purchased as a plant site (land $108,000 and building $44,000)quad152,000 Excavation costs for new building 35,500 Architect's fees on building plans 13,500 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 dem lishing building to mare land suitable for construction of new
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