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2.000 Allocating payments and receipts to fixed asset accounts The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale ceramic business. The receipts are identified by an asterisk a. Fee paid to attorney for title search $2,000 1. Cost of real estate acquired as a plant site: Land 285,000 Building to be demolished) 55,000 C. Delinquent real estate taxes on property, assumed by purchaser 16,000 d. Cost of razing and removing building acquired in (b) 6,000 e. Proceeds from sale of salvage materials from old building Special assessment paid to city for extension of water main to the property 20,000 0. Architect's and engineer's fees for plans and supervision 50,000 h. Premium on one year insurance policy during construction Cost of filing and grading land 13,000 1. Money borrowed to pay building contractor 300,000 k Cost of repairing windstorm damage during construction 5.000 Cost of paving parking lot to be used by customers 32.000 m. Cost of trees and shrubbery planted 12,000 n. Cost of floodlights installed on parking lot 1,000 o. Cost of repairing vandalism damage during construction 2.000 p. Proceeds from insurance company for windstorm and vandalism damage 6,000 7,000 - 7.000 p. Proceeds from insurance company for windstorm and vandalism damage 9. Payment to building contractor for new building 700,000 Interest incurred on building loan during construction $. Refund of premium on Imurance policy ch) canceled after 11 months Required: 1. Avign each payment and recriotto Land (urtimited Mel, Land rovements de recounts. Choose the correct the dropdown let read it and enter the appropriate amount. Inter receipts a negative mounts using the minuten 500 Item Account Amount a b C d e . h. 1. 1 1 m. a 2. Determine the amount debited to Land, Land Improvements, and die Land Land Improvements Huilding 3. Land used as a plant site - lose its ability to provide services; thus, depreciated. However, and improvements their ability to provide services as time passes and are, therefore 4. What would be the affect on the Income statement and tatance sheet it the cost of fitting and grading land of 813,000 ( set) was internetty tasutas Lanit moments sur than Land Assume Land improvements are deprecated over 20 year life using the doublede balance method 2.000 Allocating payments and receipts to fixed asset accounts The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale ceramic business. The receipts are identified by an asterisk a. Fee paid to attorney for title search $2,000 1. Cost of real estate acquired as a plant site: Land 285,000 Building to be demolished) 55,000 C. Delinquent real estate taxes on property, assumed by purchaser 16,000 d. Cost of razing and removing building acquired in (b) 6,000 e. Proceeds from sale of salvage materials from old building Special assessment paid to city for extension of water main to the property 20,000 0. Architect's and engineer's fees for plans and supervision 50,000 h. Premium on one year insurance policy during construction Cost of filing and grading land 13,000 1. Money borrowed to pay building contractor 300,000 k Cost of repairing windstorm damage during construction 5.000 Cost of paving parking lot to be used by customers 32.000 m. Cost of trees and shrubbery planted 12,000 n. Cost of floodlights installed on parking lot 1,000 o. Cost of repairing vandalism damage during construction 2.000 p. Proceeds from insurance company for windstorm and vandalism damage 6,000 7,000 - 7.000 p. Proceeds from insurance company for windstorm and vandalism damage 9. Payment to building contractor for new building 700,000 Interest incurred on building loan during construction $. Refund of premium on Imurance policy ch) canceled after 11 months Required: 1. Avign each payment and recriotto Land (urtimited Mel, Land rovements de recounts. Choose the correct the dropdown let read it and enter the appropriate amount. Inter receipts a negative mounts using the minuten 500 Item Account Amount a b C d e . h. 1. 1 1 m. a 2. Determine the amount debited to Land, Land Improvements, and die Land Land Improvements Huilding 3. Land used as a plant site - lose its ability to provide services; thus, depreciated. However, and improvements their ability to provide services as time passes and are, therefore 4. What would be the affect on the Income statement and tatance sheet it the cost of fitting and grading land of 813,000 ( set) was internetty tasutas Lanit moments sur than Land Assume Land improvements are deprecated over 20 year life using the doublede balance method