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The expenditures and receipts below are related to land, land improvements, and buildings acquired for use in a business enterprise. The receipts are enclosed in
The expenditures and receipts below are related to land, land improvements, and buildings acquired for use in a business enterprise. The receipts are enclosed in parentheses.
(a) | Money borrowed to pay building contractor (signed a note) | $(286,700) | |||
---|---|---|---|---|---|
(b) | Payment for construction from note proceeds | 286,700 | |||
(c) | Cost of land fill and clearing | 11,670 | |||
(d) | Delinquent real estate taxes on property assumed by purchaser | 8,900 | |||
(e) | Premium on 6-month insurance policy during construction | 9,060 | |||
(f) | Refund of 1-month insurance premium because construction completed early | (1,510) | |||
(g) | Architects fee on building | 27,090 | |||
(h) | Cost of real estate purchased as a plant site (land $209,800 and building $55,800) | 265,600 | |||
(i) | Commission fee paid to real estate agency | 9,710 | |||
(j) | Installation of fences around property | 4,190 | |||
(k) | Cost of razing and removing building | 9,920 | |||
(l) | Proceeds from salvage of demolished building | (5,070) | |||
(m) | Interest paid during construction on money borrowed for construction | 12,120 | |||
(n) | Cost of parking lots and driveways | 17,560 | |||
(o) | Cost of trees and shrubbery planted (permanent in nature) | 14,770 | |||
(p) | Excavation costs for new building | 3,030 |
Identify each item by letter and list the items in columnar form, using the headings shown below. All receipt amounts should be reported in parentheses. (Enter receipt amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Item | Land | Land Improvements | Building | Other Non-Property, Plant, and Equipment | |||||
---|---|---|---|---|---|---|---|---|---|
(a) | $ | $ | $ | $ | |||||
(b) | $ | $ | $ | $ | |||||
(c) | $ | $ | $ | $ | |||||
(d) | $ | $ | $ | $ | |||||
(e) | $ | $ | $ | $ | |||||
(f) | $ | $ | $ | $ | |||||
(g) | $ | $ | $ | $ | |||||
(h) | $ | $ | $ | $ | |||||
(i) | $ | $ | $ | $ | |||||
(j) | $ | $ | $ | $ | |||||
(k) | $ | $ | $ | $ | |||||
(l) | $ | $ | $ | $ | |||||
(m) | $ | $ | $ | $ | |||||
(n) | $ | $ | $ | $ | |||||
(o) | $ | $ | $ | $ | |||||
(p) | $ | $ | $ | $ |
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