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

InstructionsAnalyze the foregoing transactions using the following column headings. 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 titles. Item Land Building OtherAccounts

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Debits 1. Cost of filling and grading the land 2. Full payment to building contractor 3. Real estate taxes on land paid for the current year 4. Cost of real estate purchased as a plant site (land $100.000 and building $45,000) 5. Excavation costs for new building 6. Architect's fees on building plans 7. Accrued real estate taxes paid at time of purchase of real estate 8. Cost of parking lots and driveways 9. Cost of demolishing building to make land suitable for construction of new building $ 4,000 700,000 5.000 145,000 35,000 10,000 2.000 14,000 15,000 $930,000 Credits $ 3.500 10. Proceeds from salvage of demolished building