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. 3. 4. 5. 6. 7. 8. 9. 10. Excavation costs for new building Architect's fees on building plans Expenditures Full payment to building contractor Cost of real estate purchased as a plant site (land $285,200 and building $32,700) Cost of parking lots and driveways Accrued real estate taxes paid at time of purchase of real estate Installation cost of fences around property Cost of demolishing building to make land suitable for construction of new building Real estate taxes paid for the current year on land Receipts Proceeds from salvage of demolished building $13,545 41,540 667,100 317,900 37,530 3,710 6,240 31,700 6,790 $1,126,055 $ 12,800

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. 3. 4. 5. 6. 7. 8. 9. 10. Excavation costs for new building Architect's fees on building plans Expenditures Full payment to building contractor Cost of real estate purchased as a plant site (land $285,200 and building $32,700) Cost of parking lots and driveways Accrued real estate taxes paid at time of purchase of real estate Installation cost of fences around property Cost of demolishing building to make land suitable for construction of new building Real estate taxes paid for the current year on land Receipts Proceeds from salvage of demolished building $13,545 41,540 667,100 317,900 37,530 3,710 6,240 31,700 6,790 $1,126,055 $ 12,800

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Description: Do not give answer in image Ivanhoe Company was organized on January 1. During the first year of operations, the following plant asset expenditures and receiptswere recorded in random order.1.2.3.4.5.6.7.8.9.10.ExpendituresExcavation costs for new bu

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section19.4: Disposing Of Plant Assets

Problem 1WT

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