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Problem 10-1A (P10-1A) Diaz Company was organized on January 1

Problem 10-1A (P10-1A) Diaz Company was organized on January 1
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Solution Guide / Answer Key:

ACCOUNTING

Axia College of University of Phoenix (UoP)

Principles of Accounting

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2008). Financial Accounting
Hoboken, NJ: Wiley Plus.

Problem 10-1A (P10-1A) Diaz 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. Cost of filling and grading the land $4,000
2. Full payment to building contractor $700,000
3. Real estate taxes on land paid for the current year
AND SO ON
9. Cost of demolishing building to make land suitable for construction of new building $15,000
Total $930,000

Instructions:
Analyze the foregoing transactions using the following column headings. Insert the number of each transaction in the Item space, and insert the amounts in the appropriate columns. For amounts entered in the Other Accounts column, also indicate the account titles.

 

FILE: MS WORD

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