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

\section*{Instructions}
Analyze the foregoing transactions using the following tabular arrangement. Insert the number of each transaction in the Item space and insert the amounts in the appropriate columns. For amounts entered in the Other Accounts column also indicate the account title.

Transcribed Image Text:

Debits 1. Cost of real estate purchased as a plant site (land $100,000 and building $25,000) $125,000 2. Installation cost of fences around property 4,000 3. Cost of demolishing building to make land suitable for construction of new building 13,000 4. Excavation costs for new building 20,000 5. Accrued real estate taxes paid at time of purchase of real estate 2,000 6. Cost of parking lots and driveways 7. Architect's fees on building plans 8. Real estate taxes paid for the current year on land 9. Full payment to building contractor 12,000 10,000 3,000 600,000 Credits $789,000 10. Proceeds from salvage of demolished building $ 2,500