SUGAR CORP had the following expenditures during 2022. ...
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Accounting
SUGAR CORP had the following expenditures during 2022. |
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Classify each item below and then calculate the totals for each category. | ||||
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Additional plumbing required for the new equipment | 4,000 | |||
Architect's fees | 10,000 | |||
Bricks and lumber salvaged from the demolition of the old building on land | 3,000 | |||
Cash paid for equipment including sales tax of $4,286 | 90,000 | |||
Cash paid for land as a site to build new office on | 200,000 | |||
Closing costs on the purchase of the land | 7,000 | |||
Cost of clearing trees and grading the land for the plant site | 8,000 | |||
Delinquent real estate taxes on land purchased | 16,000 | |||
Building permit for new building | 600 | |||
Gain on purchase of the land: purchase price less than current market value | 20,000 | |||
Cost of moving the equipment into the factory and testing the equipment | 3,000 | |||
Cost of removing old building on the site for the new office | 5,000 | |||
Excavation costs for foundation of new building | 6,000 | |||
Freight and insurance on equipment while in transit | 1,000 | |||
Interest on short term notes during construction | 700 | |||
Routine maintenance on equipment during the first year of its operation | 800 | |||
Title seach on the land | 900 | |||
New building constructed ( construction took 6 months | ||||
from date of purchase of land and old building) | 250,000 | |||
Assessment by city for water and sewer lines | 18,000 | |||
Current year's real estate taxes on land | 1,500 | |||
Cost of parking lots and driveways | 12,000 | |||
Perimeter fencing | 9,000 | |||
Installation of underground sprinkler system | 3,500 | |||
Landscape costs for mowing and planting flowers | 600 | |||
Trees, shrubs and other permanent landscaping | 12,000 |
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