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Exercise 8-2 (Algo) Recording costs of assets LO C1 Cala Manufacturing purchases land for $461,000 as part of its plans to build a new plant. The company pays $29,200 to tear down an old building on the lot and $43,165 to fill and level the lot. It also pays construction costs of $1,636,300 for the new building and $103,288 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash.

Exercise 8-2 (Algo) Recording costs of assets LO C1 Cala Manufacturing purchases land for $461,000 as part of its plans to build a new plant. The company pays $29,200 to tear down an old building on the lot and $43,165 to fill and level the lot. It also pays construction costs of $1,636,300 for the new building and $103,288 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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B m Solving M M View transaction list < A O Journal entry worksheet M Transaction 1 Record the total costs of the plant assets. Note: Enter debits before credits. Q M M General Journal ezto.mheducation.com M 2-Ch 8... Exercise 8-2 (Algo) Recording costs of assets LO C1 Cala Manufacturing purchases land for $461,000 as part of its plans to build a new plant. The company pays $29,200 to tear down an old building on the lot and $43,165 to fill and level the lot. It also pays construction costs of $1,636,300 for the new building and $103,288 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash. Saved Debit < Prev M Credit M 2 of 15 # M Next > M M Help M
Transcribed Image Text:B m Solving M M View transaction list < A O Journal entry worksheet M Transaction 1 Record the total costs of the plant assets. Note: Enter debits before credits. Q M M General Journal ezto.mheducation.com M 2-Ch 8... Exercise 8-2 (Algo) Recording costs of assets LO C1 Cala Manufacturing purchases land for $461,000 as part of its plans to build a new plant. The company pays $29,200 to tear down an old building on the lot and $43,165 to fill and level the lot. It also pays construction costs of $1,636,300 for the new building and $103,288 for lighting and paving a parking area. Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash. Saved Debit < Prev M Credit M 2 of 15 # M Next > M M Help M
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