Question

The expenditures and receipts below are related to land, landimprovements, and buildings acquired for use in a businessenterprise. The receipts are enclosed in parentheses.

(a)		Money borrowed to pay building contractor (signed a note)		$(282,800	)
(b)		Payment for construction from note proceeds		282,800
(c)		Cost of land fill and clearing		11,770
(d)		Delinquent real estate taxes on property assumed bypurchaser		7,920
(e)		Premium on 6-month insurance policy during construction		11,460
(f)		Refund of 1-month insurance premium because constructioncompleted early		(1,910	)
(g)		Architect’s fee on building		26,160
(h)		Cost of real estate purchased as a plant site (land $201,700and building $54,400)		256,100
(i)		Commission fee paid to real estate agency		8,410
(j)		Installation of fences around property		4,280
(k)		Cost of razing and removing building		11,740
(l)		Proceeds from salvage of demolished building		(5,090	)
(m)		Interest paid during construction on money borrowed forconstruction		12,550
(n)		Cost of parking lots and driveways		20,330
(o)		Cost of trees and shrubbery planted (permanent in nature)		13,380
(p)		Excavation costs for new building		3,010

identify each item by letter and list the items in columnarform, using the headings shown below. All receipt amounts should bereported in parentheses. For any amounts entered in the OtherAccounts column, also indicate the account title.(Enter receipt amounts using either a negative signpreceding the number e.g. -45 or parentheses e.g. (45). If no entryis required in other accounts

Item

Land

Land Improvements

Building

Other Accounts

a
b
c
d
e
f
g
h
i
j
k
l
m
n
o
p