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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 parentheses. a. b. C. d. e f. & h. L k L m. n. 0. p. Money borrowed to pay building contractor (signed a note) Payment for construction from note proceeds Cost of land fill and clearing Delinquent real estate taxes on property assumed by purchaser Premium on 6-month insurance policy during construction Refund of 1-month insurance premium because construction completed early Architect's fee on building Cost of real estate purchased as a plant site (land $206,100 and building $55,700) Commission fee paid to real estate agency Installation of fences around property Cost of razing and removing building Proceeds from salvage of demolished building Interest paid during construction on money borrowed for construction Cost of parking lots and driveways Cost of trees and shrubbery planted (permanent in nature) Excavation costs for new building $(292,700) 292,700 10,240 7,220 9,900 (1,650) 25,360 261,800 8,720 4,310 12,100 (5.100) 11,850 18,640 15,130 2,940 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.a. (45). If no entry is required in other accounts relect" Fated 6

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. b. C. d. e f. & h. L k L m. n. 0. p. Money borrowed to pay building contractor (signed a note) Payment for construction from note proceeds Cost of land fill and clearing Delinquent real estate taxes on property assumed by purchaser Premium on 6-month insurance policy during construction Refund of 1-month insurance premium because construction completed early Architect's fee on building Cost of real estate purchased as a plant site (land $206,100 and building $55,700) Commission fee paid to real estate agency Installation of fences around property Cost of razing and removing building Proceeds from salvage of demolished building Interest paid during construction on money borrowed for construction Cost of parking lots and driveways Cost of trees and shrubbery planted (permanent in nature) Excavation costs for new building $(292,700) 292,700 10,240 7,220 9,900 (1,650) 25,360 261,800 8,720 4,310 12,100 (5.100) 11,850 18,640 15,130 2,940 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.a. (45). If no entry is required in other accounts relect" Fated 6

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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tem a с d. j. m. n. Land 10240 7220 ▪▪▪▪▪▪ 10000OOD 10000 261800 8720 12100 -5100 Land Improvements SA O Search 4310 18640 Building SA 292700 9900 -1650 25360 11850 S X
Transcribed Image Text:tem a с d. j. m. n. Land 10240 7220 ▪▪▪▪▪▪ 10000OOD 10000 261800 8720 12100 -5100 Land Improvements SA O Search 4310 18640 Building SA 292700 9900 -1650 25360 11850 S X
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. b. Payment for construction from note proceeds Cost of land fill and clearing Delinquent real estate taxes on property assumed by purchaser Premium on 6-month insurance policy during construction f Refund of 1-month insurance premium because construction completed early Architect's fee on building Cost of real estate purchased as a plant site (land $206,100 and building $55,700) Commission fee paid to real estate agency Installation of fences around property Cost of razing and removing building Proceeds from salvage of demolished building Interest paid during construction on money borrowed for construction Cost of parking lots and driveways Cost of trees and shrubbery planted (permanent in nature) Excavation costs for new building P d. al e & h i 1 k L m n 0. Money borrowed to pay building contractor (signed a note) p. $(292,700) 292,700 10,240 7,220 9,900 (1,650) 25,360 261,800 8,720 4,310 12,100 (5.100) 11,850 18,640 15,130 2,940 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 O Search X
Transcribed Image Text: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. b. Payment for construction from note proceeds Cost of land fill and clearing Delinquent real estate taxes on property assumed by purchaser Premium on 6-month insurance policy during construction f Refund of 1-month insurance premium because construction completed early Architect's fee on building Cost of real estate purchased as a plant site (land $206,100 and building $55,700) Commission fee paid to real estate agency Installation of fences around property Cost of razing and removing building Proceeds from salvage of demolished building Interest paid during construction on money borrowed for construction Cost of parking lots and driveways Cost of trees and shrubbery planted (permanent in nature) Excavation costs for new building P d. al e & h i 1 k L m n 0. Money borrowed to pay building contractor (signed a note) p. $(292,700) 292,700 10,240 7,220 9,900 (1,650) 25,360 261,800 8,720 4,310 12,100 (5.100) 11,850 18,640 15,130 2,940 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 O Search X
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