Venable Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order.
Debit
1. Cost of filling and grading the land ............... .. $ 4,000
2. Full payment to building contractor ............... 690,000
3. Real estate taxes on land paid for the current year ......... 5,000
4. Cost of real estate purchased as a plant site (land $100,000 and
building $45,000) ........................ 145,000
5. Excavation costs for new building ................ 35,000
6. Architect’s fees on building plans ................ 10,000
7. Accrued real estate taxes paid at time of purchase of real estate ..... 2,000
8. Cost of parking lots and driveways ................. 14,000
9. Cost of demolishing building to make land suitable for construction
of new building ....................... 25,000
$930,000
Credit
10. Proceeds from salvage of demolished building ........... $ 3,500

Instructions
Analyze 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 Buildings Other Accounts