Question: Please help me to fill out this table Allocating payments and receipts to fixed asset accounts Instructions Allocation to Fixed Asset Accounts Final Questions Instructions

Please help me to fill out this table  Please help me to fill out this table Allocating payments and
receipts to fixed asset accounts Instructions Allocation to Fixed Asset Accounts Final
Questions Instructions The following payments and receipts are related to land, land
improvements, and buildings acquired for use in a wholesale ceramic business The
receipts are identified by an asterisk next to the item letter b.
$2,400 273.700 51,500 16,670 5,495 G. d. Fee paid to attorney for

Allocating payments and receipts to fixed asset accounts Instructions Allocation to Fixed Asset Accounts Final Questions Instructions The following payments and receipts are related to land, land improvements, and buildings acquired for use in a wholesale ceramic business The receipts are identified by an asterisk next to the item letter b. $2,400 273.700 51,500 16,670 5,495 G. d. Fee paid to attorney for title search Cost of real estate acquired as a plant site: Land Cost of real estate acquired as a plant site:elding Delinquent real estate taxes on property, assumed by purchaser Cost of razing and removing building acquired in B Proceeds from sale of salvage materials from old building Special assessment paid to city for extension of water main to the property Architect's and engineer's fees for plans and supervision Premium on one-year insurance policy during construction e. 1 4,070 29,005 57.780 5.760 g h. Instructions 5,760 10,910 941,000 5,910 k 30.280 1 10,120 m Premium on one-year insurance policy during construction Cost of hiling and grading land Money borrowed to pay building contractor Cost of repairing windstorm damage during construction Cost of paving parking lot to be used by customers Cost of trees and shrubbery planted Cost of floodlights installed on parking lot Cost of repairing vandalism damage during construction Proceeds from Insurance company for windstorm and vandalisme damage Payment to building contractor for new building Interest incurred on building loan during construction Refund of premium on Insurance policy (h) canceled after 11 months 1,995 n 2,325 0. 7.105 p. 852.000 a 31,290 480 Instructions Allocation to Fixed Asset Accounts Final Questions 852,000 Instructions a Payment to building contractor for new building Interest incurred on building loan during construction Refund of premium on Insurance policy (h) canceled after 11 months 31,290 . 480 Required: 1. Assign each payment and receipt to Land (unlimited life), Land improvements (limited Me) Building, or Other Accounts in the table provided. Enter receipts as negative amounts using the minus sign. 2. Determine the amount debited to Land, Land Improvements, and Building 3. The costs assigned to the land, which is used as a plant site, will not be depreciated while the costs assigned to land improvements will be depreciated. Explain this seemingly contradictoly application of the concept of depreciation 4. What would be the effect on the income statement and balance sheet the cost of niling and grading land of $10,910 (payment was incorrectly classified as Land improvements rather than Land? Assume Land Improvements are depreciated over a 20-year life using the double-declining balance method Allocation to Fixed Asset Accounts Shaded cells have feetback X 1. Assign each payment and receipt to Land (unlimited life). Land improvements (limited life). Building, or Other Accounts in the table provided. Enter receipts as negative amounts using the minus sign 2. Determine the amount debited to Land, Land improvements, and Buildling. Score: //145 Item Allocation to Fixed Asset Accounts Land Land Improvements $2,500.00 Building Other Accounts a. b 340,000.00 Instructions Allocation to Fixed Asset Accounts $24UUUU Shaded cells have feedback 3 b 340,000.00 15,500.00 4 c 6 e 7 f 9 9 10 11 j 12 k Instructions Allocation to Fixed Asset Accounts Shaded cells have feedback 13 - 14 m 15 n 16 0 17 P 18 19 20 5. 71 Debited amounts

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