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The following expenditures and receipts are related to land, land improvements, and buildings acquired for use in a business enterprise. The receipts are enclosed in

The following expenditures and receipts 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)

$( 279,600)
(b)

Payment for construction from note proceeds

279600
(c)

Cost of land fill and clearing

10990
(d)

Delinquent real estate taxes on property assumed by purchaser

8760
(e)

Premium on 6-month insurance policy during construction

10980
(f)

Refund of 1-month insurance premium because construction completed early

( 1,830)
(g)

Architects fee on building

26970
(h)

Cost of real estate purchased as a plant site (land $ 204,200 and building $ 58,300)

262500
(i)

Commission fee paid to real estate agency

9420
(j)

Installation of fences around property

4200
(k)

Cost of razing and removing building

11470
(l)

Proceeds from salvage of demolished building

( 5,310)
(m)

Interest paid during construction on money borrowed for construction

12360
(n)

Cost of parking lots and driveways

18560
(o)

Cost of trees and shrubbery planted (permanent in nature)

14070
(p)

Excavation costs for new building

3250

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. For any amounts entered in the Other Accounts column, also indicate the account title. (Enter receipt amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). If no entry is required in other accounts, select "No Entry" for the account titles.)

Item Land Land Improvements Building Other Accounts
(a) $ enter a dollar amount $ enter a dollar amount $ enter a dollar amount $ enter a dollar amount enter an account title

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