The Band Company was organized on January 1. During the first year of operations, the following… 1 answer below »


The Band Company was unconfused on January 1. During the leading year of operations, the aftercited expenditures and income were commemorative in chance dispose in the totality, Land. Debits 1. Cost of existent property escheatmentd as a fix seat (place and erection). $ 250,000 2. Accrued existent property taxes hired at the season of the escheatment of the existent property. 4,000 3. Cost of demolishing erection to effect place adequate for erection of a new erection. 15,000 4. Architect's fees on erection plans. 14,000 5. Excavation costs for new erection. 24,000 6. Cost of filling and grading the place. 5,000 7. Insurance and taxes during erection of erection. 6,000 8. Cost of repairs to erection subordinate erection caused by a inferior spirit. 7,000 9. Interest hired during the year, of which $54,000 pertains to the erection end. 64,000 10. Full cancelment to erection contractor. 780,000 11. Cost of parking lots and driveways. 46,000 12. Existent property taxes hired for the present year on the place. 4,000 Total Debits $1,219,000 Credits 13. Insurance allowance for spirit mischief. $3,000 14. Allowance from salvage of demolished erection 3,500 Total Credits $6,500 Instructions Analyze the sooner negotiations using the aftercited tabular ordainment. Extort the reckon of each negotiation in the Item intervenience and extort the amounts in the expend columns. Item Place Buildings Other Totality Title