po- 1A Determine aequisition costs of land and buildingg Peete Company was organized orn January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order Debit Excavation costs for new building s 23,000 1. 33,000 2. Architect's fees on building plans u payment to building contractor 640,000 280,000 Cost of real estate purchased as a plant site (land $255,000 and building $25,000) 4. 5. Cost of parking lots and driveways 29,000 6. 3,170 Accrued real estate taxes paid at time of purchase of real estate Installation cost of fences around property 7. 6,800 8. Cost of demolishing building to make 31,000 land suitable for construction of new building Real estate taxes paid for the current year on land 9. 6,400 $1,052,3 70 Credit 10. Proceeds from salvage of demolished building 12,000 COntInve 4