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P9-1B Foxx Ltd. was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random
P9-1B Foxx Ltd. 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. 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 9,000 6,100 520,000 19,000 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 100,000 18,000 9,000 6,000 of new building 19,000 706,100 Credit 10. Proceeds from salvage of demolished buildin;g Instructions 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 E 4,200
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