Journal entry worksheetARecord the total costs of the plant assets.Note: Enter debits before credits.Transaction1Record entryGeneral JournalClear entryDebitCreditView general journal Cala Manufacturing purchases land for $301,000 as part of its plans to build a new plant. The company pays $35,800 to tear down anold building on the lot and $52,922 to fill and level the lot. It also pays construction costs of $1,755,300 for the new building and$110,800 for lighting and paving a parking area.Prepare a single journal entry to record these costs incurred by Cala, all of which are paid in cash.

The journal entries are prepared to keep the record of transactions on regular basis. The cost…

ala Manufacturing purchases land for 1,000 as part of its plans to build a new plant. The company pays $35,800 to tear down d building on the lot and $52,922 to fill and level the lot. It also pays construction costs of $1,755,300 for the new building and 110,800 for lighting and paving a parking area. repare a single journal entry to record these costs incurred by Cala, all of which are paid in cash.

ala Manufacturing purchases land for 1,000 as part of its plans to build a new plant. The company pays $35,800 to tear down d building on the lot and $52,922 to fill and level the lot. It also pays construction costs of $1,755,300 for the new building and 110,800 for lighting and paving a parking area. repare a single journal entry to record these costs incurred by Cala, all of which are paid in cash.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter10: Property, Plant And Equipment: Acquisition And Subsequent Investments

Section: Chapter Questions

Problem 5RE

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