S Cala Manufacturing purchases land for $277,000 as part of its plans to build a new plant. The company pays $30,300 to tear down an old building on the lot and $44,791 to fill and level the lot. It also pays construction costs of $1,288,100 for the new building and $81,309 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. View transaction list Journal entry worksheet A Record the total costs of the plant assets. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general Journal

S Cala Manufacturing purchases land for $277,000 as part of its plans to build a new plant. The company pays $30,300 to tear down an old building on the lot and $44,791 to fill and level the lot. It also pays construction costs of $1,288,100 for the new building and $81,309 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. View transaction list Journal entry worksheet A Record the total costs of the plant assets. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general Journal

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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