View Policies Current Attempt in Progress The following expenditures and receipts are related to land, land improvements, and buildings that were acquired for use in a business enterprise. The receipts are in parentheses 1. Money borrowed to pay a building contractor (signed a notel. ($274,6101 A payment for building construction from note proceeds $274.610 The cost of landfill and clearing $7,930 Delinquent real estate taxes on property, assumed by the purchaser, $6.810 5. A premium on a six-month insurance policy during construction, $5.900 6. Refund of one month's insurance premium because construction was completed early ($930) 7. An architect's fee on a building $21.970 8. The cost of real estate purchased as a plant site (land $199.900, building $49.975), $249,875 9. A fee paid to a real estate agency for finding the property, $8.770 relating to the land purchase (see 8) ENG 2. 3. 4. 11 AM MITTAD apter 10-F21pa Question 7 of 8 < > /10 B. The cost of real estate purchased as a plant site (and $199.900, building $49,975), $249.875 9. A fee paid to a real estate agency for finding the property, $8,770 relating to the land purchase (see 60 10. The installation of fences around a property, $3,780 11 The cost of razing (demolishing) and removing the building on the plant site (see item 8), $10,840 12. Proceeds from the salvage of the demolished building (54,670) 13. Interest paid during construction on money borrowed for construction, $12.970 14. The cost of parking lots and driveways. $18.630 15. The cost of trees that were planted (non-permanent in nature, to be replaced every 20 years), $13.660 Excavation costs new building, $2.810 16. 17. The recoverable GST on the excavation cost. $550 Identify each itern by number and list the items in columnar form, as shown below. Using the column headings that follow, enter the amount under the column heading where it would be recorded. For any amounts that should be entered in the Other Accounts column ENG 17 1 ♥00 TESTAM 2022-06-12 Question 7 of 8 -/10 1 Identify each item by number and list the items in columnar form, as shown below thing the column headings that followed the amount under the column heading where it would be recorded. For any amounts that should be entered in the Other Accounts colan also indicate the account title. (Show the receipts in using either a negative sign preceding the number ea-15,000 or parentheses (15,000). If there is no entry in other accounts, select "No Entry for the account titles) Land Improvements Hem Land Building $ 1. 2 3 0 11 3823-06-12 Question 7 of 8 4. 5 9 6. NE 8. 6 10 11. 12 C -/10 1 1852 AM 9:00 2003-04-12
