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Debit 1. Accrued real estate taxes paid at time of purchase of real estate 2. Real estate taxes on land paid for the current
Debit 1. Accrued real estate taxes paid at time of purchase of real estate 2. Real estate taxes on land paid for the current year 3. Full payment to building contractor 4. Excavation costs for new building 5. Cost of real estate purchased as a plant site (land 75,000 and building 25,000) 6. Cost of parking lots and driveways 7. Architect's fees on building plans 8. Installation cost of fences around property 9. Cost of demolishing building to make land suitable for construction of new building 9,000 6,100 520,000 19,000 100,000 18,000 9,000 6,000 19,000 706,100 Credit 10. Proceeds from salvage of demolished building Instructions 4,200 Analyze the foregoing transactions using the following column headings. Insert the num- ber of each transaction in the Item column, and then insert the amounts in the other appropriate columns. For amounts entered in the Other Accounts column, also indicate the account title. Item Land Buildings Other Accounts
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