ent CALCULATOR FULL SCREEN PRINTER VERSION 4 RACK NEXT Problem 7-1 Ivanhoe Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receipts were recorded in random order. 1. 2. $13,540 39,540 655,600 3. 4. 305,100 Expenditures Excavation costs for new building Architect's fees on building plans Full payment to building contractor Cost of real estate purchased as a plant site (land $274,400 and building $30,700) Cost of parking lots and driveways Accrued real estate taxes paid at time of purchase of real estate Installation cont of fences around property Cost of demolishing building to make and suitable for construction of new building Real estate taxes paid for the current year on land 5 6. 28,430 3.730 8,250 7 28,200 9 7.160 $1,089,550 Receipts Proceeds from salvage of demolished building 10. $ 11,900 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 sin preceding the numbered or parentheses (45). Land Building Other Accounts Amounts Account Title