Chapter 8 Assignment Question 5 of 7 View Policies Current Attempt in Progress Peete Company was organized on January 1. During the first year of operations, the follo asset expenditures and receipts were recorded in random order. 1 2. 3. 4. 5. 6. 7. 8. 9. 10. Excavation costs for new building Architect's fees on building plans Full payment to building contractor Item Cost of real estate purchased as a plant site (land $255,000 and building $25,000) Expenditures Cost of parking lots and driveways Accrued real estate taxes paid at time of purchase of real estate installation cost of fences around property Cost of demolishing building to make land suitable for construction of new building Real estate taxes paid for the current year on land Receipts Proceeds from salvage of demolished building $ Land -/2 = 1 Building $23.000 33,000 640,000 280,000 29,000 3,170 6.800 Analyze the transactions using the following table column headings. Enter the amounts in the appropriate columns. For amounts in the Other Accounts column, also indicate the account title. (Enter negative amounts using either a negative sign preceding the number eg. -45 or parentheses e.g. (45)) Amounts 31.000 6,400 $1,052,370 $12,000 Other A Chapter 8 Assignment Question 5 of 7