nment Problem 7-1 Pharoah Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. Expenditures 1. Excavation costs for new building $13,585 2. Architect's fees on building plans 33,040 3. Full payment to building contractor 662,000 4. Cost of real estate purchased as a plant site (land 5301,500 and building $26,200) 327,700 5. Cost of parking lots and driveways 20,00 6. Accrued real estate taxes paid at time of purchase of real estate 1.130 7. Installation cost of fences around property 8,190 B. Cost of demolishing building to make and suitable for construction of building 26,200 9 Real estate taxes paid for the current year of land 0,090 $1,110,915 Receipts Proceeds from salvage of demolished building 10. 11.000 Analyze the transactions using the following table column headings. Enter the amounts in the appropriate columns Por amounts in the Other Accounts column, also indicate the acco preceding the number .. 45 or parentheses e.. (45).) Other Accounts Item Land Building Amounts Account Title 10. Proceeds from salvage of demolished building $11.000 Analyze the transactions using the following table column headings. Enter the amounts in the appropriate columns. For mounts in the Other Accounts columnas indicate the account est amounts her a no preceding the number .. 45 or parentheses . (45).) Other Accounts Item Land Building Amounts Account Tide 1 $ 2 2 4 5 6 7 8 10 5 Inc. All Rights Reserved. A Division of Sinc