The following expenditures relating to plant assets were made by Glenn Company during the first 2 months of 2014.(b) Indicate the account title to which each expenditure should be debited. 1.   Paid $7,000 of accrued taxes at the time the plant site was acquired.   choose an account title  Land ImprovementsLandLicense ExpenseEquipmentPrepaid Insurance 2.   Paid $200 insurance to cover a possible accident loss on new factory machinery while the machinery was in transit.   choose an account title  LandLand ImprovementsPrepaid InsuranceEquipmentLicense Expense 3.   Paid $850 sales taxes on a new delivery truck.   choose an account title  LandLand ImprovementsPrepaid InsuranceLicense ExpenseEquipment 4.   Paid $21,000 for parking lots and driveways on the new plant site.   choose an account title  EquipmentLicense ExpenseLand ImprovementsLandPrepaid Insurance 5.   Paid $250 to have the company name and slogan painted on the new delivery truck.   choose an account title  LandEquipmentLicense ExpensePrepaid InsuranceLand Improvements 6.   Paid $8,000 for installation of new factory machinery.   choose an account title  License ExpenseLandEquipmentLand ImprovementsPrepaid Insurance 7.   Paid $900 for a 1-year accident insurance policy on the new delivery truck.   choose an account title  LandPrepaid InsuranceEquipmentLand ImprovementsLicense Expense 8.   Paid $75 motor vehicle license fee on the new truck.

Question

The following expenditures relating to plant assets were made by Glenn Company during the first 2 months of 2014.

(b) Indicate the account title to which each expenditure should be debited.

1.  
Paid $7,000 of accrued taxes at the time the plant site was acquired.
  choose an account title
 Land ImprovementsLandLicense ExpenseEquipmentPrepaid Insurance
2.  
Paid $200 insurance to cover a possible accident loss on new factory machinery while the machinery was in transit.
  choose an account title
 LandLand ImprovementsPrepaid InsuranceEquipmentLicense Expense
3.  
Paid $850 sales taxes on a new delivery truck.
  choose an account title
 LandLand ImprovementsPrepaid InsuranceLicense ExpenseEquipment
4.  
Paid $21,000 for parking lots and driveways on the new plant site.
  choose an account title
 EquipmentLicense ExpenseLand ImprovementsLandPrepaid Insurance
5.  
Paid $250 to have the company name and slogan painted on the new delivery truck.
  choose an account title
 LandEquipmentLicense ExpensePrepaid InsuranceLand Improvements
6.  
Paid $8,000 for installation of new factory machinery.
  choose an account title
 License ExpenseLandEquipmentLand ImprovementsPrepaid Insurance
7.  
Paid $900 for a 1-year accident insurance policy on the new delivery truck.
  choose an account title
 LandPrepaid InsuranceEquipmentLand ImprovementsLicense Expense
8.  
Paid $75 motor vehicle license fee on the new truck.

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