IS Wewandte Accounting Principles, 130 CALCULATOR PRINTER VERSION & BACK Problem 10-01A Martinez 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 filing and grading the land $ 3,000 2. Full payment to building contractor 695,000 3. Real estate taxes on land paid for the current year 4,500 Cost of real estate purchased as a plant site (land $117,500 and building $42,000) 159,500 5. Excavation costs for new building 37,500 6. Architect's fees on building plans 10,500 7. Accrued real estate taxes paid at time of purchase of real estate 2,500 8. Cost of parking lots and driveways 13,500 9. Cost of demolishing building to make land suitable for construction of new building 25,500 $951,500 Credit 10. Proceeds from salvage of demolished building $ 4,000 Analyze the foregoing transactions using the following column headings. Insert the amounts in the appropriate columns. (If an amount reduces the account bald then enter with a negative sign preceding the number, e.g. -15,000 or parenthesis, e.g. (15,000).) Item Land Buildings Other Accounts Weygandt, Accounting Principles, 13e Help System Announcements CALCULATOR PRINTER VERSION BACK NE Credit 10. Proceeds from salvage of demolished building $ 4,000 Analyze the foregoing transactions using the following column headings, Insert the amounts in the appropriate columns. (If an amount reduces the account balance then enter with a negative sign preceding the number, e.g. -15,000 or parenthesis, e.g. (15,000).) Item Land Buildings Other Accounts 1. 2. 3. 5 6. 7. 8. 9. 10