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Sagot :
Answer:
1. Sales tax on factory machinery purchased - $5,000
Account to be debited: Equipment
2. Painting of and lettering on truck immediately upon purchase - $700
Account to be debited: Equipment
3. Installation and testing of factory machinery - $2,000
Account to be debited: Equipment
4. Real estate broker’s commission on land purchased - $3,500
Account to be debited: Land
5. Insurance premium paid for first year’s insurance on new truck - $880
Account to be debited: Prepaid Insurance
6. Cost of landscaping on property purchased - $7,200
Account to be debited: Land Improvements
7. Cost of paving parking lot for new building constructed - $17,900
Account to be debited: Land Improvements
8. Cost of clearing, draining, and filling land - $13,300
Account to be debited: Land
9. Architect’s fees on self-constructed building - $10,000
Account to be debited: Buildings
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