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Sarasota Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random

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Sarasota 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 $ 3,000 2 Full payment to building contractor 697,000 3. Real estate taxes paid for the current year on land 5,000 4. Cost of real estate purchased as a plant site (land $105.500 and building $49.500) 155,000 5. Excavation costs for new building 34,000 6 Architect's fees on building plans 15,000 7 Accrued real estate taxes paid at time of purchase of land 1,000 8 Cost of parking lots and driveways 14,000 9. Cost of demolishing building to make land suitable for construction of new building 26,000 $950,000 Credit 10. Proceeds from salvage of demolished building $4,000 Analyze the transactions using the following table column headings Enter the amounts in the appropriate columns. (If an amount reduces the account balance then enter with a negative sign preceding the number, eg-15,000 or parenthesis (15,000) Item 1 $ 2 9. 10 Land eTextbook and Media List of Accounts Buildings Other Accounts $ $

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