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On July 1, 2018 Dryor & Jekel, Inc. purchased land and incurred other costs relative to the construction of a new warehouse. A summary of

On July 1, 2018 Dryor & Jekel, Inc. purchased land and incurred other costs relative to the construction of a new warehouse. A summary of economic activities is listed below:

Purchase price $185,000
Title Insurance 1,500
Legal fees to purchase land 1,000
Cost of razing old building on lot 8,500
Proceeds of sale of salvageable materials (1,200)
Property taxes January 1,2018 - June 30, 2018 3,000
Cost of grading and filling building site 9,000
Cost of building construction 620,000
Interest on construction loan 12,000
Cost of constructing new driveway 8,000
Cost of parking lot and fencing 12,000

Required:

List the assets affected by the above transactions and give the resulting balance of each asset account.

Show your calculations.

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