Problem 9-1A Crane Company was organized on January 1. During the first year of

Question

Problem 9-1A Crane Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random orden Debit 1.Excavation costs for new building 2 Architect's fees on building plans $14,065 33,450 643,500 317,200 37,350 3,090 8,120 30,700 7,220 $1,094,695 Full payment to building contractor Cost of real estate purchased as a plant site (land $283,100 and building $34,100) 4 5. Cost of parking lots and driveways 6. Accrued real estate taxes paid at time of purchase of real estate 7 Installation cost of fence s around property Cost of demolishing building to make land suitable for construction of new building 9 Real estate taxes paid for the current year on land Credit 10. Proceeds from salvage of demolished building $12,700

Explanation / Answer

other accounts item land Building Amounts account title 1 14,065 2 33,450 3 643,500 4 317,200 5 37,350 land improvement 6 3,090 7 8,120 land improvements 8 30,700 9 7,220 property taxes 10 -12,700 total 338290 691,015 52690

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