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please fill in according to attached excel template. thanks P10.1A Determine acquisition costs of land and building Venable Company was organized on January 1. During
please fill in according to attached excel template. thanks
P10.1A Determine acquisition costs of land and building Venable Company 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. Cost of filling and grading the land 2. Full payment to building contractor $4,000 690,000 5,000 3. 4. Real estate taxes on land paid for the current year Cost of real estate purchased as a plant site (land $100,000 and building $45,000) 145,000 35,000 5. Excavation costs for new building Architect's fees on building plans 6. 10,000 2,000 7. Accrued real estate taxes paid at time of purchase of real estate Cost of parking lots and driveways 14,000 9. Cost of demolishing building to make land suitable for construction of new building 25,000 $930,000 Credit 10. Proceeds from salvage of demolished building $3,500 Instructions Analyze the foregoing transactions using the following column headings. Insert the number of each transaction in the Item space, and insert the amounts in the appropriate columns. For amounts entered in the Other Accounts column, also indicate the account titles. Item Land Buildings Other Accounts 5678 Insert the amounts in the appropriate columns. For amounts entered in the Other Accounts column, also indicate the account titles. Item Land Building Other Accounts 1 Value Value Value Value Value Value Value Value ? ? 23456789 10 Value Value Account Account Step by Step Solution
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