Problem 9.1A Name Section Date Peete Company Other Accounts Account Titles Item Land Amount Building 1. 55 63. 6 17 84. 8 99 105T 12 6. 7. 8. 18 9. 10. Problems: Set A P9.1A (LO 1), C Peete Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order Determine acquisition costs of land and building. Debit Excavation costs for new building 1. 23,000 33,000 640,000 280,000 29,000 2. Architect's fees on building plans 3. Full payment to building contractor 4. Cost of real estate purchased as a plant site (land $255,000 and building $25,000) Cost of parking lots and driveways 6. Accrued real estate taxes paid at time of purchase of land 7. Installation cost of fences around property 8. Cost of demolishing building to make land suitable for construction of new building 9. Real estate taxes paid for the current year on land 3,170 6,800 31,000 building 6,400 $1,052,370 Credit Proceeds from salvage of demolished building 10. 12,000